Dhaka, Bangladesh (BBN) – Bangladesh’s stocks slipped into the red last week that ended on Thursday with turnover remained low as most of the investors followed cautious stance.
The market witnessed five trading sessions as usual. Of them, three sessions closed lower while two sessions saw marginal gains.
The benchmark index of the Dhaka Stock Exchange (DSE), came down below the 4,800-mark after three-week and settled the week at 4,781.36, shedding 75.60 points or 1.56 percent over the previous week.
The DS30 index, comprising blue chips, plunged 35.27 points or 1.91 percent to finish at 1,816.00. The DSE Shariah Index dropped 32.41 points or 2.74 percent to end the week at 1,149.73.
The port city bourse Chittagong Stock Exchange (CSE) also closed lower with its Selective Categories Index – CSCX – losing 134.76 points to close the week at 8,913.20.
The week’s total turnover stood at BDT 18.94 billion against BDT 17.50 billion in the week before as last week saw five trading sessions instead of previous week’s four.
The daily turnover averaged BDT 3.79 billion, which was 13.4 percent lower than the previous week’s average of BDT 4.4 billion.
“Benchmark index took significant correction last week eroding some gains of the previous month,” said LankaBangla Securities, a stockbroker, in its weekly analysis.
Market turnover value plunged amid shaky market confidence triggered by first quarter economic results, said the stockbroker.
IDLC Investments, a merchant bank, said, the market crossed a week full of significant economic developments but underlying tone of the market stayed negative.
Losers outpaced gainers as out of 325 issues traded, 221 declined, 89 advanced and 15 remained unchanged on the DSE trading floor during the week.
Beximco Pharma dominated the week’s turnover list with shares of BDT 1.03 billion changing hands during the week followed by Far Chemical, Saif Powertec, GP and Lafarge Surma Cement.
Green Delta Mutual Fund was the week’s best performer, posting a rise of 21.28 percent while Far Chemical was the week’s worst loser, plunging by 16.26 percent.