Dhaka, Bangladesh (BBN) – Bangladesh’s stocks saw major correction last week with sluggish trading activities as the investors were remained reluctant to take fresh exposure amid shaky confidence.
 
The week featured all five trading sessions as usual and the market saw all sessions red.
Week-on-week, DSEX, the prime index of Dhaka Stock Exchange (DSE) went down by 73.12 points or 1.65 percent to close at 4,363.09 points.
 
The DS30, comprising blue chips went down 17.46 points or 1.08 percent to close at 1,604.40 points. The DSE Shariah Index (DSES) lost 6.02 points or 0.60 percent to close at 996.90 points.
 
The port city bourse, the Chittagong Stock Exchange (CSE), also ended lower last week with its Selective Categories Index – CSCX— lost 136.12 points or 1.60 percent to close the week at 8,327.12 points.
 
The week’s total turnover stood at BDT 9.60 billion, against BDT 12.87 billion in the previous week despite last week saw one more trading session against previous week’s four days.
 
The daily turnover for the week averaged BDT 1.92 billion which was 40.32 percent lower compared to previous week’s average of BDT 3.12 billion.
 
“The sluggish movements were privileging throughout the week as the investors prefer to stay in the sideline and participated cautiously,” said International Leasing Securities.
“Revived tone of expected half-yearly and yearly declarations and upcoming monetary policy statement (MPS) for July-December period could not stand ahead of prolonged shaky market sentiment,” commented IDLC Investments, in its weekly market analysis.
 
“Market keeps losing points relentlessly. Turnover has also come down to a very minimal level. This low level of turnover is indicating gradually falling interest to sell at this level of prices,’ said LankaBangla Securities, in its weekly analysis. 
 
Out of 305 issues traded during the week, 243 declined, 49 advanced and 13 remained unchanged on the DSE trading floor.
 
Beximco dominated the week’s top turnover chart for the second straight week with shares worth BDT 627.95 million changing hands during the week followed by GP, FAR Chemical, Appollo Ispat and Lafarge Surma Cement.
 
Bangladesh Industrial Finance Corporation (BIFC) was the week’s top gainer, posting a rise of 16.80 percent while National Life Insurance was the week’s worst loser, slumping by 28.33 percent.
 
BBN/SSR/BB-12July14-1:13 pm (BST)