Dhaka, Bangladesh (BBN) – The Dhaka Stock Exchange (DSE) closed flat last week after a significant correction with declining turnover value, market operators said.
They also said the week ended flat, as most of the investors traded shares cautiously while some of them followed wait-and-see policy.
The week witnessed four trading sessions instead of five as Tuesday was government holiday. Among those, two sessions witnessed gain while two sessions lost.
During the week, the DSE General Index (DGEN) lost only 2.21 points or 0.04 per cent to close at 5,161.23.
The broader All Shares Price Index (DSI), however, closed 7.35 points or 0.17 per cent higher to close at 4,337.68. The DSE-20 Index comprising blue-chip shares also ended 20.44 points or 0.53 per cent higher to close at 3,985.01.
“The Dhaka stocks ended flat after a significant correction last week. At opening bell of the week, DGEN went down by 152 points due to political unrest and spurious rumour,” commented LankaBangla Securities in its weekly market analysis.
The market passed first two sessions amid countrywide shutdown enforced by main opposition BNP and its alliance.
The market witnessed lower turnover last week and the total turnover value stood at BDT18.14 billion against BDT 38.07 billion in the previous week, as there was one less trading session in the week following government holiday Tuesday.
The average daily turnover value came down to BDT 4.53 billion which was 40.44 percent lower compared to BDT 7.61 billion in the previous week.
Out of 273 issues traded in the week, 135 declined, 128 advanced and 10 remained unchanged.
Companies continued to disclose their corporate declarations for the year 2011. During the week, a total of 32 companies disclosed their corporate declarations.
The market capitalization of the DSE also declined by 0.15 percent last week, as it was BDT 2,689.16 billion on the opening day of the week, and at the end of the week it stood at BDT 2,685.01 billion.
General insurance and life insurance were the two highest gaining sectors of the week which gained 3.23 percent and 3.16 percent respectively, the DSE data showed.
Among the major sectors, banks sector was the only gaining sector last week which gained 0.91 percent.
Pharmaceuticals closed flat, while telecommunications, fuel and power and non-banking financial institutions (NBFIs) lost 1.68 percent, 0.64 percent and 0.33 percent respectively.
LankaBangla Finance topped the week’s turnover chart with shares worth BDT 944.47 million changed hands.
The other turnover leaders were GP, Jamuna Oil, Meghna Petroleum, Beximco Limited, Square Pharma, Beximco Pharma, GPH Ispat, MI Cement, Titas Gas.
Northern General Insurance was the week’s top gainer, posting a rise of 30.91percent, followed by Aramit, Reliance Insurance, Global Insurance, Seventh ICB, Continental Insurance, Orion Infusion, Rupali Insurance, Glaxo Smithkline and Kay Que.
The week’s worst losers included Uttara Finance, Popular Life Insurance, RD Food, Jamuna Bank, Al-Arafah Islami Bank, MJL Bangladesh, Square Textile, Safko Spinning, BD Finance and Salvo Chemicals.
BBN/SSR/AD-05May12-12:20 pm (BST)
