Dhaka, Bangladesh (BBN)-Bangladesh stocks extended their losing streak for the three weeks in a row that ended on Thursday as major economic updates and financial disclosures dominated the market movement.
The week featured five trading sessions as usual.
Of them, three sessions closed lower while two sessions managed to closed higher.
DHAKA STOCK EXCHANGE:
Week-on-week, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 2.47 points or 0.05 per cent to settle at 4,571.12 points.
However, the two other indices managed to edged higher. The DS30 index, comprising blue chips, advanced 13.57 points or 0.78 per cent to finish at 1,742.73.
The DSE Shariah Index gained 5.72 points or 0.52 per cent to close at 1,108.42.
CHITTAGONG STOCK EXCHANGE:
The port city bourse Chittagong Stock Exchange (CSE) also slipped into the red for thee weeks with its Selective Categories Index, CSCX, falling 16.46 points or 0.19 per cent to end at 8,549.82.
The total turnover for the week also came down to Tk 20.57 billion which was BDT 21.52 billion in the week before.
The daily turnover averaged BDT 4.11 billion, which was 4.42 per cent lower than the previous week’s average of BDT 4.30 billion.
LankaBangla Securities, a stockbroker, said, “Major economic updates dominated the market movement, while investors were mostly in selling mood amid lack of market direction”.
International Leasing Securities, a stockbroker, said, “Favorable earnings declarations from corporations lured the investors to jump for buoyancy in the mid two sessions but shaky confidence among the market participants regarding capital market outlook triggered short-term profit booking”.
The losers took a strong lead over the gainers as out of 330 issues traded, 221 closed lower, 94 higher and 15 issues remained unchanged on the DSE trading floor during the week.
Square Pharmaceuticals dominated the week’s turnover chart with 3.20 million shares worth BDT 842 million changing hands followed by City Bank, Beximco Pharma, Appollo Ispat and IT Consultants.
Libra Infusion was the best performer, posting a rise of 34.39 per cent while IT Consultants was the week’s worst loser, slumping by 22.29 per cent.