Dhaka, Bangladesh (BBN)- Bangladesh’s stocks posted a marginal gain last week after previous week’s significant correction as the investors followed meticulous strategy amid mixed corporate earnings declarations.
The market featured five trading sessions as usual. Of them, two sessions managed to close positive while three sessions saw negative trend.
Week-on-week, DSEX, the prime index of the Dhaka Stock Exchange (DSE) went up marginally by 19.13 points or 0.37 percent to close the week at 5,173.23 points.
The two other indices also saw marginal gain. The DS30, comprising blue chips index gained 5.80 points or 0.30 percent to close at 1,949.48 points. The DSE Shariah Index advanced 3.80 points or 0.31 percent to close at 1,220.04 points.
The port city bourse Chittagong Stock Exchange (CSE) also saw marginal gain with its Selective Categories Index-CSCX – rose 23.41 points or 0.24 percent to close at 9,701.21 points.
Trading at DSE remained dry and total turnover for the week stood at BDT 27.67 billion against BDT 32.73 billion in the week before.
The daily turnover for the week averaged BDT 5.53 billion, registering a decline of 15.45 percent over the previous week’s average BDT 6.54 billion. The week posted lowest average turnover in the last seven weeks.
“Earnings disclosures and dynamic trading pattern highlighted last week’s market movements,” said IDLC Investments in its weekly analysis.
Mixed market scenario was observed due to investors’ cautious re-balancing of portfolio ahead of corporate announcements, said the merchant bank.
“Fear of further fall condensed amid investors and as an aftermath favourable earnings could not encourage investors much to return in market,” the merchant bank added.
LankaBangla Securities said: “The market experienced volatility throughout the week as most of the listed companies have published their Q3 (Jul-Sept 2014) earnings”.
“There is no apparent trend. Some observed astounding growth, while most of them observed negative growth,” said the stock broker.
“The investors responded on quarterly earnings declarations of several stocks last week. Particular issues from fuel and power and textile sectors grabbed the investors’ special attention,” observed International Leasing Securities.
Fuel and power stocks dominated the week registering 3.15 per cent gain in market cap. Fuel and power companies showed on an average meager growth in earnings in Q3 2014. Banks observed mixed performance in Q3 2014.
The major sectors yield mix performance last week. Banks and NBFIs gained 0.68 per cent and 0.50 per cent respectively.
Losers outpaced gainers as out of 314 issues traded, 150 declined, 146 advanced and 18 remained unchanged on DSE floor during the week.
Some 34 listed companies made corporate declaration last week.
GrameenPhone (GP) dominated the week’s top turnover chart with shares worth BDT 1.29 billion changing hands followed by MJL BD, Titas Gas, Square Pharma and Khulna Power Company Ltd.
Shahjibazar Power Company was the week’s top gainer for the second consecutive week, posting a rise of 59.66 percent while Popular Life Insurance was the week’s worst loser, slumping by 27.44 percent.
BBN/SSR/AD-02Nov14-12:06 pm (BST)
