Dhaka, Bangladesh (BBN) – The country’s stocks edged lower for the second week of the new calendar year with drastic fall in turnover value, as most of the investors remained reluctant in making fresh investments, market operators said.
The outlook of the market deteriorated mostly due to poor turnover which has turned out to be acute in the week, they added.
The market witnessed five trading sessions as usual. Among those, three sessions gained marginally by 17.07 points while two sessions lost 44.96 points.
Week-on-week, the benchmark general index of the Dhaka Stock Exchange (DSE) ended at 4,132.99 after losing 27.89 points or 0.67 per cent.
The all share price index DSI shed 17.69 points or 0.50 per cent to close at 3,508.01. The DSE-20, the blue chip, also lost 8.43 points or 0.24 per cent to close at 3,453.64.
Chittagong Stock Exchange (CSE) also went down marginally. The CSE Selective Category Index dropped 44 points or 0.53 per cent to close at 8,040.
The week witnessed low turnover value. The total turnover value of the week stood at BDT 7.18 billion, registering a rise of 4.42 per cent from previous week’s BDT 6.88 billion.
As last week had five trading sessions instead of previous week’s four, the daily average turnover value dropped 16.46 percent to BDT 1.43 billion from previous week’s average BDT 1.72 billion.
“Most of the sectors saw their volume dip significantly, as the investors refrained from trading,” commented LankaBangla Securities.
Of the total 282 shares and mutual fund units traded during the week, 65 advanced, 206 declined and 11 remained unchanged.
The market capitalization of the DSE, decreased slightly by 0.47 percent as it was BDT 2,377.98 billion on the opening day of the week and at the end of the week it stood at BDT 2,366.69 billion.
Among the major sectors, pharmaceutical posted a rise of 0.09 per cent, while fuel and power sector lost 1.25 percent followed by non-banking financial institutions (NBFIs) 1.23 percent.
Banks and Telecommunications lost 0.75 percent and 0.68 percent respectively. Among all sectors, Cement advanced the most by posting a gain of 2.79 percent.
Beximco Limited continued to dominate the week’s top turnover chart for the third week with shares worth Tk 549.02 million changed hands.
The other turnovers leaders were United Airways, Unique Hotel and Resorts, RN Spinning Mills, National Bank, Beximco Pharma, Summit Power, Pubali Bank, Lafarge Surma Cement and Saiham Cotton Mills.
First Lease Finance and Investments was the week’s highest gainer posting a rise of 9.20 per cent followed by RN Spinning Mills, Fifth ICB, Third ICB, First ICB, Saiham Cotton Mills, United Airways, Standard Ceramic, Libra Infusions and Renwick Jajneswar & Co. (BD) Ltd.
The week’s worst losers included Samorita Hospital, Orion Infusion, EBL NRB Mutual Fund, First Bangladesh Fixed Income Fund, Popular Life First Mutual Fund, Savar Refractories, Prime Finance First Mutual Fund, Phoenix First Mutual Fund, Purabi General Insurance and Grameen Mutual One.
BBN/SSR/AD-12Jan13-11:50 am (BST)
