Dhaka, Bangladesh (BBN)- The country’s stock markets witnessed a positive week that ended on Thursday after two week’s consecutive fall – in terms of index movement and investors’ participation – despite countrywide 48-hour hartal enforced by Bangladesh Jamaat-e-Islami.
Out of five trading sessions, the first two sessions witnessed gain while last three sessions saw marginal losses.
The sluggishness of the market partially disappeared in the week as the total turnover value marked 20.20 percent rise and amounted to BDT 28.81 billion compared to BDT 23.96 billion in the previous week.
The daily average turnover value stood at BDT 5.76 billion, registering 20.20 percent rise compared to BDT 4.79 billion in the previous week.
Week-on-week, the prime index of the Dhaka Stock Exchange — DSEX went up by 19.76 points or 0.48 percent to close the week at 4,097.71 points. The DS30 Index, comprising blue chips accumulated a gain of 3.0 points or 0.20 percent to close at 1,512.43 points, according to the DSE data.
The Chittagong Stock Exchange (CSE) also ended marginally higher with its Selective Category Index gained 50.10 points or 0.63 percent to close at 7,983.08 points.
“Neither demand nor supply force could strongly dominate over the week, putting the bourse flat in positive region,” IDLC Investments, said its weekly market analysis.
“Investors’ preference to quick return and scrip-wise swings kept investment scenario mostly volatile,” the merchant bank said.
In the meantime, fear of potential political turmoil kept confidence shaky, prompting participants to focus on short-term profit booking, said the investments bank.
“Factually, investors were seemed indecisive for long term positioning,” the merchant bank added.
“Consolidation on large-cap stocks against positioning in the small-cap stocks helped to close the market higher than the previous week,” stated LankaBangla Securities, in its weekly analysis.
Investors are waiting the official direction of the DSEX chart. “It’s hard to say that the chart has turned bullish, since market has been consolidating above the support level,” said the stock broker.
“Market participation expedited in this week as turnover increased, though uncertainty over the political frontier kept the index volatile throughout the week,” the stock broker added.
“The DSE showed no significant improvement as the small cap scrips that ruled the market for a few days could not sustain its dominance later part of the week,” stated Zenith Investments.
The gainers took a marginal lead over the losers as out of 298 issues traded during the week on DSE, 162 advanced, 116 declined and 16 remained unchanged.
All the major sectors ended in green except pharmaceuticals which retraced 1.06 per cent.
Among the major sectors, NBFIs saw the highest gain of 3.18 percent. Banks, telecommunications and fuel and power advanced 0.76 percent and 0.75 per cent and 0.68 per cent respectively.
The top gaining sectors of the week are IT 10.10 percent, Ceramic 3.65 percent, Cement 2.98 percent, textile 2.62 per cent.
Like previous week, investors participated most in textile, pharmaceutical and fuel and power sectors, accounted for 17.29 per cent, 11.11 percent and 10.65 percent respectively of total turnover
The market capitalisation of the DSE went up slightly by 0.13 percent as it was BDT 2,602.63 billion at the opening day and at the end week it stood at BDT 2,606.12 billion.
Two listed companies — Delta Brac Housing Finance and United Airways made corporate decoration during the week. Delta Brac Housing declared 25 percent cash dividend while United Airways recommended 12 per cent stock dividend.
Bangladesh Submarine Cable Company became the week’s top turnover leader with shares worth BDT 1.14 billion changing hands followed by United Airways, CMC Kamal, Heidelberg Cement, GP, RN Spinning, Meghna Petroleum, Jamuna Oil, Active Fine Chemicals and Padma Oil.
Meanwhile, a total of 17 listed companies informed the DSE that there is no undisclosed price sensitive information behind their recent ‘unusual’ share price hike. Of them, 7 companies featured in the week’s top ten gainer chart.
Information Services Network was the week’s top gainers, posting a rise of 56.03 percent while ICB Third Mutual Fund was the week’s worst loser, plunging by 19.27 per cent.
BBN/SSR/AD-21Sept13-1:48 pm (BST)
