Dhaka, Bangladesh (BBN) – Bangladesh’s finished slightly lower last week that ended on Thursday as risk-averse investors opted for quick-profit on sector specific stocks.
The week witnessed five trading sessions as usual. Of them, two sessions saw correction, while three posted marginal gain within a thin band.
The prime index of the Dhaka Stock Exchange (DSE) went down by 3.21 points or 0.07 percent to close the week at 4,574.36 points, over the previous week.
The DS30 index, comprising blue chips, saw sharp fall, plunging by 14.18 points or 0.79 percent to settle at 1,781.02 points.
However, the DSE Shariah Index saw a fractional gain of 0.44 point or 0.04 percent to close at 1,123.47 points.
The port city bourse Chittagong Stock Exchange (CSE) also finished slightly lower with its Selective Categories Index, CSCX, falling 3.18 points or 0.04 percent to settle at 8,562.09 points.
The week’s total turnover, however, improved to BDT 23.18 billion, which was BDT 22.16 billion in the week before.
The daily turnover averaged BDT 4.64 billion, registering an increase of 4.60 percent over the previous week’s average of BDT 4.43 billion.
International Leasing Securities, a stockbroker, said, “Investors decided to book quick-gain over the recent price hike in shares, which triggered the market to close in negative territory”.
LankaBangla Securities, a stockbroker, said, “Benchmark index witnessed volatility and closed the week almost flat. Investors seem to be consolidating at this level”.
The stockbroker noted that earning declaration remained the major trigger in the market, thus market saw significant shift in stock positioning almost throughout the week.
The major sectors showed mixed performance. Among the major sectors, engineering, textile, NBFI and cement gained by 4.13 per cent, 2.07 percent, 1.0 percent and 0.44 per cent respectively.
Telecommunication posted the highest loss of 1.31 percent, followed by fuel and power 0.72 percent, food and allied 0.67 percent and banks 0.60 percent.
The gainers took a modest lead over the losers as out of 328 issues traded, 169 closed higher, 121 closed lower and 38 remained unchanged on the DSE trading floor last the week.
MJL Bangladesh dominated the week’s turnover chart with some 6.78 million shares worth BDT 737 million changing hands, followed by Titas Gas, Bangladesh Steel Re-rolling Mills, Delta Brac Housing Finance Corporation and BSRM Steels.
Ambee Pharmaceuticals was the week’s best performer, posting a gain of 28.83 percent, while Exim Bank First Mutual Fund was the worst loser, slumping by 20.88 percent.