Dhaka, Bangladesh (BBN) - The Dhaka Stock Exchange (DSE) went to negative territory this week that ended on Thursday, breaking the fourth straight week of gaining streak with significantly declining turnover value, as the investors’ sold-off shares, fearing further fall of the market.
The market analysts said the investors sold shares out of panic following the trade body’s concern over the country’s overall economic condition and upcoming caution monetary policy.
The week witnessed five trading sessions, as usual. Among them four sessions suffered big losses while one session gained marginally.
In the week, the DSE General Index (DGEN), the yardstick of the market slipped 352.51 points or 6.45 percent to close at 5,114.49 on Thursday.
The broader All Shares Price Index (DSI) plunged 287.98 points or 6.31 per cent to close at 4,273.35. The DSE-20 Index comprising blue-chip shares also dropped 202.42 points or 5.04 per cent to close at 3,816.39.
Turnover value also declined significantly this week compared to the previous week as turnover continued to fall throughout the week. Total turnover stood at BDT 22.95 billion against last week’s total value of BDT 34.60 billion.
Average daily turnover value stood at BDT 4.6 billion which was 33.67 percent lower compared to BDT 6.92 billion in the previous week.
All sectors declined this week: the commercial banks lost 6.58 percent whereas non-banking financial institutions (NBFIs), pharmaceuticals, fuel and power and telecommunications sectors lost 7.46 per cent, 4.40 per cent, 6.81 per cent, and 1.13 per cent respectively.
Grameenphone (GP) continued to top the week’s turnover chart, with shares worth BDT 1.03 billion changing hands.
Standard Ceramics was the week’s highest gainer, posting a rise of 5.89 percent while Meghna Petroleum was the week’s worst loser.
BBN/SSR/AD-13Jan12-8:00 pm (BST)