Dhaka, Bangladesh (BBN) – Bangladesh’s stocks edged slightly lower last week that ended on Thursday, breaking four-week gaining spell, as investors were cautious amid mixed corporate earnings news and concern over monetary policy statement.
The week witnessed five trading sessions as usual. Of them, three sessions closed lower while two sessions ended marginally higher.
Week-on-week, DSEX, the prime index of the Dhaka Stock Exchange (DSE), dipped below the 4,800-mark and settled the week at 4,792.31, shedding 16.09 points or 0.33 per cent.
The DS30 index, comprising blue chips, fell 4.93 points or 0.26 percent to end at 1,883.91. The DSE Shariah Index dropped 5.36 points or 0.45 per cent to finish at 1,189.86.
The port city bourse Chittagong Stock Exchange (CSE) also ended higher with its Selective Categories Index - CSCX – moved down by 5.66 points or 0.06 per cent to close the week at 8,959.59.
The total turnover for the week stood at BDT 33.83 billion, which was 67.35 per cent higher than the previous week’s total turnover of BDT 20.22 billion, as last week saw five sessions instead of previous week’s three.
The daily turnover for the week averaged BDT 6.77 billion, registering an increase of 0.41 per cent over the previous week’s averaged BDT 6.74 billion.
“As half yearly earnings figures are hitting onto the screen, investors are carefully considering about taking positions on stocks,” said LankaBangla Securities, a stockbroker, in its weekly analysis.
IDLC Investments, a merchant bank, said, “Certain issues failed to meet investors’ expectations and index started to move sideways as sell pressure started to pile up. However, investor optimism prevailed as evidenced by buoyant turnover”.
Most of the sectors witnessed price correction last week. Among the major sectors, telecommunication lost 2.2 per cent, financial institutions 1.5 per cent, fuel and power lost 0.9 per cent.
The losers took a modest lead over the gainers as out of 325 issues traded, 157 declined, 150 advanced and 18 remained unchanged on the DSE trading floor.
Lafarge Surma Cement was the week’s top turnover leader with shares worth above BDT 1.93 billion changing hands during the week followed by Square Pharma, KPCL, Beximco Pharma and Bexmco.
Zaheen Spinning was the week’s best performer, posting a rise of 30.10 per cent while Fareast Islami Life Insurance was the week’s worst loser, plunging by 19.09 per cent.
BBN/SSR/BB