Dhaka, Bangladesh (BBN)– Bangladesh’s stocks closed almost flat last week that ended on Thursday as investors were active both sides of trading fence throughout the week.
Analysts said some investors preferred to take cautious approach while some other continued with profit taking sales ahead of earnings and dividend declarations.
The week featured five trading sessions as usual. Of them, three sessions closed higher while last two ended lower.
The prime index of the Dhaka Stock Exchange (DSE), went down by 3.37 points or 0.06 percent to settle at 5,358 points.
“Selling of shares mostly from food & allied, banking and pharmaceuticals sectors stock contributed to fall of indices,” said a leading broker.
The food & allied sector posted the highest loss of 2.94 percent, followed banking with 2.0 percent and pharmaceutical 0.52 percent.
He noted that some investors took position in the power, engineering, telecommunication and financial institutions issues anticipating positive earnings disclosure.
The DS30 index, comprising blue chips, also fell 19.68 points to finish at 1,906 points.
However, the DSE Shariah index advanced 6.06 points to end at 1,267.
EBL Securities said the market participants were active showing sign of revival of confidence to the market that was reflected on later part of the week.
Total turnover on the DSE stood at BDT 48.50 billion, registering an increase of 58 percent, from BDT 30.56 billion in the previous week, as last week saw five sessions instead of previous week’s four.
The daily turnover averaged BDT 9.70 billion, which was 27 percent higher than the previous week’s average of BDT 7.64 billion.
Of the traded issues, 171 closed higher, 148 ended lower and 25 issues remained unchanged on the DSE floor.
The newly listed Bashundhara Paper Mills was the week’s most traded stock with 13 million shares worth BDT 2.14 billion changing hands followed by BBS Cables, Ratanpur Steel, United Power and Singer Bangladesh.
The Peninsula Chittagong was the week’s best performer, posting a gain of 40.51 percent last week while BD Autocars was the worst loser, losing 25.37 percent.
However, the Chittagong Stock Exchange (CSE) finished slightly higher with the CSE All Share Price Index – CASPI –advancing 9.0 points to settle at 16,513.
The Selective Categories Index – CSCX – also gained 11 points to close at 9,994.