Dhaka, Bangladesh (BBN)): Stocks plunged for the third straight week that ended Thursday with significant declining turnover as investors went for selling spree amid political turmoil throughout the week.
Week-on-week, the General Index of the DSE—DGEN ended at 3,914.23 points, after losing 133 points or 3.29 per cent.
The DSEX plunged 140.43 points or 3.53 per cent to close at 3,832.85 points. The DSE-30 Index (DS30) also declined 39.55 points or 2.76 per cent to close at 1,392.35.
Total turnover for the week deteriorated further and came down to 11.96 billion which was 15.6 per cent lower than the previous week’s value.
Consequently, the daily average turnover value of the week declined by 15.6 per cent to Tk 2.4 billion compared to previous week’s average Tk 2.83 billion.
Out of the 284 issues traded during the week, 220 declined, 58 advanced while six remained unchanged.
All the sectors were in the losing territory. NBFI 7.15 per cent was the biggest loser of the week. Fuel and power, telecommunications, banks and pharmaceuticals lost 3.10 per cent, 2.99 per cent, 1.95 per cent and 1.83 per cent respectively.
Newly listed securities dominated the week’s top turnover chart with Premier Cement dominated the week’s top turnover list with shares worth Tk 1.08 billion changing hands.
It was followed by Golden Harvest Agro Industries, Summit Purbanchol Power, Global Heavy Chemicals, United Airways, Argon Denims, Beximco Limited, RN Spinning and Sun Life Insurance.
Reliance Insurance was the week’s highest gainers posting a rise of 4.49 per cent followed by ICB AMCL First Mutual Fund, Berger Paints, Eastern Bank, Sub 25 per cent Covetable Bonds of Brac Bank, Libra Infusion, BATBC, Orion Infusion, Pubali Bank and BD Finance.
The week’s worst losers included FAS Finance, IDLC, LankaBangla Finance, Prime Insurance, Green Delta Insurance, Argon Denims, Generation Next Fashion, Modern Dyeing, Kay and Que and Savar Refractories.
The market capitalisation of the DSE, decreased by 1.75 per cent, as it was Tk 2,335.77 billion on the opening day of the week and at the end of the week it stood at Tk 2,295 billion.
Nine listed companies—Bank Asia, BSRM Steels, Eastland Insurance, Golden Harvest Agro Industries, LankaBangla Finance, Prime Bank, Union Capital, United Insurance and United Leasing made their corporate declaration during the week.
The Chittagong Stock Exchange (CSE) also suffered loss heavily last week with the CSE Selective Categories Index plunged 272.37 points or 3.45 per cent to close at 7,608.39.
BBN/BB/AD/08Mar-13-8.10pm (BST).
