Dhaka, Bangladesh (BBN)– Bangladesh’s stocks returned to the red last week that ended on Thursday as cautious investors booked profit on sector-wise large-cap stocks.
Analysts said the downward shift in the index was mainly driven by negative changes in large-cap sectors like power, food, banking and telecommunication.
The week featured five trading sessions as usual. Of them, three sessions closed lower while two managed to edge higher.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 24.70 points or 0.47 percent to settle the week at 5,281 points.
Two other indices—the DS30 index and the DSE Shariah Index (DSES)–also ended slightly lower.
The DS30 index, comprising blue chips, fell 7.41 points to finish at 1,861 and the DSE Shariah Index lost 4.08 points to close at 1,223.
According to International Leasing Securities, the shaky investors went for profit booking sell-off while some of the investors adopted ‘wait-and-see’ approach amid ongoing fickle market trend.
The stockbroker noted that though the bargain hunters tried to revive the bearish trend, the heavy sell pressure in power, financial institution, food, bank and telecom sectors eroded the buyers’ attempt.
Total turnover, however, rose to BDT 31.54 billion on the DSE which was BDT 26.29 billion in the week before as last week saw five sessions instead of previous week’s four.
The daily turnover averaged BDT 6.30 billion, registering a decline of 4.04 percent over the previous week’s average of BDT 6.57 billion.
Of the 346 traded issues, 206 closed lower, 117 ended higher and 23 issues remained unchanged on the DSE trading floor last week.
Khulna Power Company topped the week’s turnover chart with 19.21 million shares worth BDT 1.29 billion changing hands during the week.
The other turnover leaders were Saiham Textile, United Power, SK Trims & Industries and Intech Ltd.
Monno Jute Stafflers was the week’s best performer, posting a gain of 25.66 percent while Kohinoor Chemicals was the worst loser, losing 22.84 percent.
The port city’s bourse, Chittagong Stock Exchange (CSE), also ended marginally lower with its CSE All Share Price Index – CASPI –losing 102 points to settle at 16,182.
The Selective Categories Index – CSCX – also fell 65 points to close the week at 9,810.