Dhaka, Bangladesh (BBN) – Bangladesh’s stocks ended flat last week that ended on Thursday as the investors followed cautious stance ahead of the Holy Ramadan.
The week featured five trading sessions as usual. Of those, the market closed positive in the mid-three sessions while first and last sessions saw correction.
Week-on-week, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up slightly by 4.72 points or 0.10 percent to settle at 4,519.85 points.
The DSE Shariah Index advanced 2.44 points or 0.22 percent to close at 1,101.66 points.
However, the DS30 index, comprising blue chips, moved down by 1.68 points or 0.10 percent to finish at 1,742.62 points.
The port city bourse Chittagong Stock Exchange (CSE) also inched up slightly with its Selective Categories Index – CSCX – gained 3.42 points or 0.04 percent to end the week at 8,458.62 points.
The total turnover for the week came down to BDT 19.36 billion against BDT 26.74 billion the week before.
The daily turnover for the week averaged BDT 3.87 billion, registering a decline of 27.6 per cent over the previous week’s averaged BDT 5.35 billion.
“The market reached a blank spot last week, where impacts of budgetary bets and undervaluation were wearing thin, while year-end disclosures of June closing companies were yet to fuel expectations,” said IDLC Investments, a merchant bank, in its weekly analysis.
The gainers took a marginal lead over the losers as out of 321 issues traded, 154 advanced, 139 declined and 28 remained unchanged on the DSE trading floor.
United Airways was the week’s top turnover leader with shares worth BDT 944.47 million changing hands during the week followed by GP, KPCL, Beximco and Familytex (BD).
Hakkani Pulp and Paper was the week’s best performer, posting a rise of 53.37 percent while First Bangladesh Fixed Income Fund was the week’s worst loser, plunging by 14.71 percent.