Dhaka, Bangladesh (BBN) – Dhaka stocks ended the last week marginally higher with turnover declined slightly as the investors booked profit on the later part of the week following World Bank’s latest statement relating to the Padma Bridge funding.
The week witnessed five trading sessions as usual. Among those, two sessions gained heavily while three sessions lost marginally.
Week-on-week, the benchmark general index of the Dhaka Stock Exchange (DGEN) went up by 3.27 points or 0.07 per cent to close at 4,682.19. However, other two indices failed to maintain gaining momentum.
The broader All Shares Price Index (DSI) lost 2.85 points or 0.07 per cent to close at 3,957.91. The DSE-20 Index comprising blue chips also lost 65.48 points or 1.80 per cent to close at 3,575.45.
“The week started with spontaneous participation with World Bank’s positive announcement regarding the revival of its funding in construction of Padma Bridge,” stated IDLC Investments in its weekly analysis.
However, as World Bank clarified its position regarding Padma Bridge issue, the market went through mild corrections on the later part of the week with investors being ‘watchful’, it added.
“At the beginning of the week, the market was buoyant as World Bank announced its reengagement in Padma Bridge project. Later on, market mood changed modestly due to profit taking and World Bank’s restatement on misrepresentation of senior officials of Bangladesh government regarding World Bank’s reengagement,” commented LankaBangla Securities in its weekly analysis.
Total turnover value stood at BDT 53.56 billion against BDT 55.85 billion in the previous week. The average daily turnover stood at BDT 10.71 billion, down by 4.09 percent compared to previous week’s BDT 11.17 billion.
Out of 281 issues traded, 179 advanced, 96 declined and six remained unchanged in the week.
The market capitalization of the DSE increased marginally by 0.22 percent in the week, as it was BDT 2,584.94 billion on the opening day of the week and at the end of the week it stood at BDT 2,590.13 billion.
Among the heavy weighted sectors, bank, non-banking financial institutions (NBFIs) and telecommunications lost 1.04 percent, 1.06 per cent and 1.87 percent respectively.
But the sector that suffered most was the cement sector as it lost 5.31 percent while biggest gainer was the mutual fund sector which gained 11.41 percent in the week. Most of the top 10 gainers’ list for the week belonged to mutual fund sector.
United Airways topped the week’s turnover chart with shares worth BDT 3.66 billion changed hands during the week, followed by Titas Gas, RN Spinning, BSCCL, UCBL, Keya Cosmetics, National Bank, Jamuna Oil, BSRM Steels, and CMC Kamal.
Prime Finance First Mutual Fund was the week’s highest gainer posting a rise of 36.55 percent, followed by IFIL Islamic Mutual Fund, Phoenix Finance First Mutual Fund, United Airways, PHP First Mutual Fund, Gemini Sea Food, Green Delta Mutual Fund, Bangas and Pharma Aids.
The week’s worst losers included Second ICB, Unique Hotel, Prime Islami Life Insurance, Seventh ICB, BSCCL, Legacy Footwear, Confidence Cement, Aramit Cement, Miracle Industries and S Alama Cold Rolled Steels.
BBN/SSR/AD-29Sept12-9:20 pm (BST)
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