Dhaka, Bangladesh (BBN)-Bangladesh’s stocks went down back-to-back weeks that ended on Thursday amid sluggish trading activities as investors were maintaining sideline strategies amid profit taking attempt.
Week-on-week, DSEX, the benchmark index of Dhaka Stock Exchange (DSE), went down by 11.74 points or 0.26 percent to close the week at 4,555.12 points.
The other two indices also closed lower.
The DS30, comprising blue chips lost 5.92 points or 0.35 percent to close at 1,666.01 points.
The DSE Shariah Index went down by 5.28 points or 0.52 percent to close at 1,012.92 points.
The port city bourse-the Chittagong Stock Exchange (CSE)-also edged marginally down and its Selective Categories Index – CSCX –lost 7.64 points or 0.08 percent to close the week at 8,763.40 points.
The total turnover value on the prime bourse stood at BDT 19.13 billion which was 12.97 percent higher compared to previous week’s BDT 16.93 billion.
The rise in total turnover has mainly resulted as there was one trading session less in the previous week.
The average daily turnover for the week came down to BDT 3.82 billion, registering a decline of 10 percent over the previous week’s average of BDT 4.23 billion.
“The continuous selling is probably the result of banks’ reducing exposure trying to comply with capital market exposure limit set by Bangladesh Bank,’ said LankaBangla Securities, in its weekly market analysis.
Out of 301 issues traded during the week, 163 advanced, 114 declined and 24 issues remained unchanged on the DSE trading floor.
GrameenPhone (GP) dominated the week’s top turnover chart with shares worth Tk 1.54 billion changing hands during the week followed by Meghna Petroleum, Heidelberg Cement, Matin Spinning and Olympic Industries.
Salvo Chemicals was the week’s top gainer that posted a rise of 20.74 percent following its corporate declaration of 10 percent stock dividend.
On the other hand, Information Services Network was the week’s worst loser, slumping by 27.78 percent following its no dividend declaration.