Dhaka, Bangladesh (BBN) – Bangladesh’s stocks posted marginal fall last week that ended on Wednesday as the risk-averse investors were on selling mood, especially on large-cap stocks.
The week saw four trading sessions instead five as the market was closed on August 25 (Thursday) on the occasion of Janmashtami, one of the major religious festivals of the Hindu Community. All the four trading sessions closed in the red zone.
The benchmark index of the Dhaka Stock Exchange (DSE) went down by 30.81 points or 0.67 percent, finishing the week at 4,554.27 points over the previous week.
The two other indices also closed in the red zone. The DS30 index, comprising blue chips, fell sharply by 17.76 points or 1.01 percent to settle at 1,748.17 points.
The DSE Shariah Index also lost 14.14 points or 1.26 percent to close at 1,107.35 points.
The port city bourse Chittagong Stock Exchange (CSE) also finished lower with its Selective Categories Index, CSCX, falling 62.45 points or 0.72 percent to close at 8,521.28 points.
LankaBangla Securities, a stockbroker, said, “The market scenario indicates investors’ profit taking intention. The top turnover list was dominated by large-cap shares, whereas small-cap shares were predominant in the list of top gainers”.
The week’s total turnover stood at BDT 20.03 billion, which was BDT 17.77 billion in the week before, despite last week saw four trading sessions like previous week.
The daily turnover averaged BDT 5.0 billion, registering an increase of 12.71 percent higher over the previous week’s average of BDT 4.44 billion.
“The market continued to reel under pressure as investors opted for profit booking from some large-cap stocks like,” said IDLC Investments, a merchant bank, in its weekly market analysis.
The losers took a strong lead over the gainers as out of 327 issues traded, 175 closed lower, 126 closed higher and 26 remained unchanged on the DSE trading floor last the week.
MJL Bangladesh dominated the week’s turnover chart with about 7.73 million shares worth BDT 862 million changing hands, followed by Shahjibazar Power Company, National Tubes, Bangladesh Steel Re-rolling Mills and Brac Bank.
Federal Insurance was the week’s best performer, posting a gain of 19.78 percent, while ICB 8th Mutual Fund was the worst loser, slumping by 18.32 percent.