Dhaka, Bangladesh (BBN)- Country’s stocks fell in the first week of new calendar year breaking three weeks of gaining streak with turnover value shrinking further as the investors lost their interest in the market.
The market witnessed four trading sessions like previous week as trading was closed Monday due to bank holiday. Among those, two sessions fell 80.23 points while two others gained marginally by 35.97 points.
Week-on-week, the benchmark general index of the Dhaka Stock Exchange (DGEN) ended at 4,160.88, losing 44.27 points or 1.05 per cent.
The all share price index DSI lost 39.47 points or 1.11 per cent to close at 3,525.69. However, the DSE-20, the blue chips gained 14.90 points or 0.43 per cent to close at 3,462.06.
Chittagong Stock Exchange (CSE) also decreased marginally with the CSE Selective Category Index dropped 62.19 points or 0.76 per cent to close at 8,084.28.
The outlook of the market deteriorated mostly due to lack of turnover which turned out to be acute in the week. The market needs much more turnover immediately to raise index, market operators said.
"The market is suffering from liquidity shortage and fell to 6-month low during the week, leading the market to a more shaky position," commented Zenith Investments.
"The most of the sectors saw their volume dip significantly as the investors remained reluctant from trading in the week," LankaBangla Securities, leading stock broker said.
The most surprising thing was the turnover improvement of mutual funds which increased from BDT 57.5 million to BDT 368.1 million, a 540 per cent increase in the last trading session.
The turnover value of the week stood at BDT 6.88 billion, down by 15.97 percent from the turnover value of the previous week's BDT 8.19 billion.
Since the last week also had four trading sessions, the daily average turnover value was also 15.97 per cent lower than that of the previous week.
Of the total 282 shares and mutual fund units traded during the week, 91 advanced, 179 declined and 12 remained unchanged.
The market capitalization of the DSE decreased slightly by 0.80 percent, as it was BDT 2,397.05 billion on the opening day of the week and at the end of the week it stood at BDT 2,377.98 billion.
None of the major sectors gained in the week. Non-banking financial institutions (NBFIs) lost 4.12 percent, followed by telecommunications 1.96 percent, pharmaceuticals 0.77 percent, while fuel and power and banks went down by 0.66 percent and 0.23 percent respectively.
Among all the sectors, Mutual Fund was the highest gainer of the week, gaining 4.26 percent. Mutual Fund sector also dominated the week's top gainer chart and eight mutual funds featured in top ten gainers list.
Beximco Limited continued to dominate the week's top turnover chart for the third week with shares worth BDT 433.71 million changing hands.
The other turnovers leaders were United Airways, Unique Hotel and Resorts, National Bank, Summit Power, BSCCL, Beximco Pharma, GrameenPhone, Envoy Textile and Generation Next Fashion.
Reliance One was the week's highest gainer posting a rise of 10.71 percent followed by Orion Infusion, Popular Life First Mutual Fund, NLI First Mutual Fund, PHP First Mutual Fund, Sixth ICB, ICB AMCL Second NRB Mutual Fund, IFIC Bank First Mutual Fund and ICB AMCL First NRB Mutual Fund.
The week's worst losers included Midas Financing, FAS Finance, BIFC, Savar Refractories, Delta Life Insurance, AB Bank, BD Finance, Modern Dyeing, ICB and Sonali Ansh.
BBN/SSR/AD-05Jan13-12:10 pm (BST)
