Dhaka, Bangladesh (BBN)-Bangladesh’s stocks ended flat last week with participation remained low as investors were cautious ahead of third-quarterly earnings declaration.
The market witnessed another shortened week with four trading sessions instead of five as opening day of the week fall on Eid holiday.
During the four sessions’ long-week, the market edged higher two sessions while two sessions closed in the red.
DHAKA STOCK EXCHANGE:
Week-on-week, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 3.67 points or 0.08 percent to settle the week at 4,856.97.
However, the DS30 index, comprising blue chips, shed 9.08 points or 0.49 percent to finish at 1,851.27. The DSE Shariah Index dropped 8.90 points or 0.75 percent to end the week at 1,182.14.
CHITTAGONG STOCK EXCHANGE:
The port city bourse Chittagong Stock Exchange (CSE), however, closed flat with no significant movement with its Selective Categories Index – CSCX – ending the week at 9,047.96.
“Financial stocks supported the market to sustain above 4,850-level in index,” LankaBangla Securities, a stockbroker, in its weekly analysis.
International Leasing Securities, a stockbroker, said, “Stocks witnessed choppy trading almost throughout the week as investors might have preferred to rebalance their portfolio ahead of third-quarterly earnings disclosure”.
The total turnover for the week stood at BDT 17.50 billion against BDT 13.02 billion in the week before as the last week saw four trading sessions instead of previous week’s three.
The daily turnover averaged BDT 4.37 billion, which was 0.77 percent higher that the previous week’s BDT 4.34 billion.
Telecommunication took a significant hit last week, plunging by 4.5 percent following regulatory approval for Robi-Airtel merger and proposed mobile number portability mechanism.
Losers outpaced gainers as out of 325 issues traded, 165 declined, 139 advanced and 21 remained unchanged on the DSE trading floor during the week.
Far Chemical Industries dominated the week’s turnover list with shares of BDT 868 million changing hands during the week followed by Saif Powertec, GP, Square Pharma and Islami Bank.
AIBL First Mutual Fund was the week’s best performer, posting a rise of 28.33 per cent while ICB Seventh Mutual Fund was the week’s worst loser, plunging by 11.89 percent.