Dhaka, Bangladesh (BBN) – Bangladesh’s stocks extended losses for the sixth straight weeks that ended on Thursday as worried investors were on selling frenzy amid lack of confidence.
The week featured five trading sessions as usual. Of them, first four sessions closed in the red while last one managed to close higher.
The benchmark index of the Dhaka Stock Exchange (DSE) plunged 68.58 points or 1.52 percent to end the week at 4,433.58 point.
The DS30 index, comprising blue chips, plunged 22.28 points or 1.30 percent to finish at 1,689.08. The DSE Shariah Index shed 17.01 points or 1.57 percent to end the week at 1,067.47.
The port city bourse Chittagong Stock Exchange (CSE) also closed lower with its Selective Categories Index – CSCX – losing 135.59 points or 1.62 percent to end the week at 8,232.27.
“Lack of investment stories, fear of sale pressure from banks to bring down capital market exposure to allow level and consistent targeted violence took a major toll on investors’ sentiment last week,” said IDLC Investments, a merchant bank, in its weekly analysis.
The daily turnover average turnover for the week stood at BDT 2.98 billion, which was 1.0 percent lower than the previous week’s average of BDT 3.0 billion.
LankaBangla Securities, a stockbroker, said, “The market passed another tensed week, though the last trading day showed some improvement by lifting up the benchmark by 62 points with higher participation”.
The losers took a strong lead over the gainers as out of 325 traded issues, 245 closed lower, 67 higher and 13 remained unchanged on the DSE trading floor last week.
Titas Gas dominated the week’s turnover chart with shares of BDT 1.30 billion changing hands during the week followed by IFAD Autos, Square Pharma, Saif Powertec and United Airways.
Aramit was the week’s best performer, posting a rise of 16.81 percent while Aman Feed was the week’s worst loser, plunging by 22.04 percent.