Dhaka, Bangladesh (BBN)- The country’s stocks moved up slightly in the last week, breaking the consecutive two weeks losing streak though investors' participation was in decline with turnover hitting a five-year low on Tuesday last.
The market witnessed five trading sessions as usual. Among those, first two sessions lost marginally by 39.99 points while last three gained 74.06 points.
Week-on-week, the benchmark general index of the Dhaka Stock Exchange (DSE) ended at 4,167.06, adding 34.07 points or 0.82 percent.
The all share price index DSI went up marginally by 25.50 points or 0.73 per cent to close at 3,533.51. The DSE-20, the blue chip, however, rose sharply by 80.32 points or 2.33 per cent to close at 3,533.95.
Chittagong Stock Exchange (CSE) also closed marginally higher with the CSE Selective Category Index went up by 38.26 points or 0.47 per cent to close at 8,078.99.
"Market hovered within a band of hundred points for last two weeks. Market seems to pass through an accumulation phase with very low turnover and volatility," commented LankaBangla Securities in its weekly market analysis.
"Initially market tracking index consolidated above 4,100 points with slumping turnover, however, slowly rising turnover on last two trading days eased the investors' bearish sentiment marginally," it added.
Turnover is decreasing day by day making liquidity situation worse. DSE daily turnover even failed to cross BDT 2.0 billion in the last 12 consecutive trading sessions.
The total turnover value of the week deteriorated further to stand at BDT 6.33 billion, down by 11.83 percent from previous week's BDT 7.18 billion.
Hence the last week had five trading sessions, the daily average turnover value also dropped 11.83 percent to BDT 1.26 billion from previous week's average BDT 1.43 billion.
Of the total 280 issues traded during the week, 122 advanced, 20 declined and 138 remained unchanged.
The market capitalization of the DSE, increased slightly by 0.43 percent, as it was BDT 2,366.69 billion on the opening day of the week and at the end of the week it stood at BDT 2,376.95 billion.
Among the major sectors, pharmaceutical was the highest mover which posted a gain of 2.0 percent, followed by fuel and power 0.96 percent and banks 0.09 percent. Non-banking financial institutions (NBFIs) and telecommunications lost 0.32 percent and 0.14 percent respectively.
United Airways dominated the week's top turnover chart with shares worth BDT 591.95 million changed hands.
The other turnovers leaders were RN Spinning, Unique Hotel and Resorts, Beximco Limited, Generation Next Fashion, National Bank, BSCCL, Titas Gas, Envoy Textile amd GrameenPhone.
ACI Formulations was the week's highest gainer posting a rise of 11.79 percent followed by BATBC, Glaxo SmithiKline, Republic Insurance, First Bangladesh Fixed Income Fund, Marico Bangladesh, Berger Paints, Mithun Knitting, Bata Shoe and Monno Jute Stafflers.
The week's worst losers included ICB Third Mutual Fund, AB Bank First Mutual Fund, Phoenix Finance First Mutual Fund, Fifth ICB, Fourth ICB, ICB AMCL Islamic Mutual Fund, Kohinoor Chemical, Second ICB, NCC Bank Mutual Fund One and Libra Infusions.
BBN/SSR/AD-19Jan13-12:27 pm (BST)
