Dhaka, Bangladesh (BBN)– Bangladesh’s stocks ended the last week of outgoing fiscal year ended lower that ended on Thursday.
The benchmark index of the Dhaka Stock Exchange (DSE) lost 251 points or 4.44 percent in the Fiscal Year (FY) 2017-18.
Analysts said investors sold shares to book profit ahead of year-ending, taking the market in the downward trend.
Selling of shares mostly from telecommunication, banking, power and food & allied sectors contributed to fall of indices, they said.
The week featured five trading sessions as usual. Of them, two sessions saw positive trend while three ended lower.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), went down by 36.30 points or 0.67 percent to settle at 5,405 points.
The DS30 index, comprising blue chips, also fell 21.86 points to finish at 1,960.
But, the DSE Shariah index saw a fractional gain of 0.34 points to end at 1,264.
The Chittagong Stock Exchange (CSE) also ended lower with the CSE All Share Price Index – CASPI –losing 228 points to settle at 16,558.
The Selective Categories Index – CSCX – also fell 163 points to close at 10,009.
Total turnover on the DSE rose to BDT 35.42 billion, registering an increase of 33 per cent, from BDT 26.57 billion in the previous week, as last week saw five sessions instead of previous week’s four.
The daily turnover averaged BDT 7.08 billion, which was 6.63 percent higher than the previous week’s average of BDT 6.64 billion.
According to International Leasing Securities, shaky investors booked profit on telecom, bank, fuel & power stocks, leading the market in the downward trend.
The heavyweight telecommunication sector posted the highest loss of 3.50 percent, followed by banking with 1.72 percent, power 1.32 percent and food & allied 0.98 percent.
Of the traded issues, 196 closed lower, 126 ended higher and 20 issues remained unchanged on the DSE floor.
Ratanpur Steel Re-rolling Mills was the week’s most traded stock with 17.61 million shares worth BDT 1.15 billion changing hands, closely followed by Monno Ceramic, Grameenphone, Paramount Textile and Alif Industries.
BD Autocars was the week’s highest gainer, posting a gain of 42 percent while Standard Insurance was the worst loser, losing 20 per cent.