Dhaka, Bangladesh (BBN)-Bangladesh’s stocks edged lower for the second week straight with key index of the major bourse dipping below 5,000-mark as investors followed “wait-and-see” approach amid cautious stance.
Week-on-week, DSEX, the prime index of the Dhaka Stock Exchange (DSE), came down below the 5,000-mark and closed the week at 4,984.46 points, shedding 40.64 points or 0.81 percent.
The DS30, comprising blue chips, index lost 6.83 points or 0.37 percent to close at 1,860.15 points.
The DSE Shariah Index drooped 5.76 points or 0.49 percent to close at 1,174.55 points.
The port city bourse Chittagong Stock Exchange (CSE) also saw marginal decline last week with its Selective Categories Index – CSCX – went down by 71.69 points or 0.75 percent to close the week at 9,371.12 points.
The total turnover for the week stood at BDT 37.77 billion against BDT 27.77 billion the week before.
The daily turnover for the week averaged BDT 7.55 billion, registering an increase of 8.80 per cent over the previous week’s average of BDT 6.94 billion.
International Leasing Securities said: “The stock market encountered a bumpy ride throughout the week’s trading as the investors were yet to make up their mind regarding the market’s turnaround”.
LankaBangla Scurrilities said: “Market got some footing during the week though benchmark index lost slightly,”
Some of the companies’ encouraging earnings, which were published during the week, might have lured investors from sideline, said the stock broker.
IDLC Investments said: “Despite clear downward direction, large positive swings were observed which couldn’t fade the bearish trend”.
Despite initial push from buyers in a number of occasions market ended in red and all these soared the turnover eventually, the merchant bank added.
Losers outpaced gainers as out of 314 issues traded, 198 declined, 97 advanced and 19 remained unchanged on DSE floor last week.
The market capitalisation of the DSE went down slightly by 0.60 percent as it was BDT 3,322.52 billion on the opening day of the week and it stood at BDT 3,302.69 billion on closing day of the week.
The new issue – Western Marine Shipyard – dominated the week’s top turnover chart for the second consecutive week with shares worth BDT 2.29 billion changing hands followed by Keya Cosmetics, BEDL, DESCO and Jamuna Oil.
National Polymer was also the week’s top gainer, posting a rise of 45.31 percent while Tallu Spinning was the week’s worst loser, plunging by 27.95 percent.
BBN/BB/ASI-13Nov14-8:15pm (BST)