Staff Correspondent
Dhaka stocks dropped last week, extending its bear run for the second consecutive week, amid decreased participation of investors, market operators said.
The general index of Dhaka Stock Exchange lost 65.09 points, or 2.36 per cent, in the week closing at 2,695.58 on Thursday, while its blue chips index, DSE20, shed 71.86 points, or 3.16 per cent, to finish at 2,199.34.
A merchant bank official said the market witnessed a selling pressure from investors, especially from retailers, who—dejected by the recent prevalence of dullness at the market—scurried to sell off their holdings. He, however, said some investors also offloaded shares to gather cash to buy initial public offerings of Bay Leasing and Investment Ltd, subscription of which starts today.
Before the recent bear run, the market had been in a bull run for a couple of weeks thanks to an increased participation of investors after a two-and-a-half-month lull.
A DSE stockbroker said the price movement at the market fluctuated almost every day in the week, reflecting the investors’ shakiness about the market trend. The market also saw volatility in the share prices of a number of low-profile ‘Z’ category issues following various rumours and speculations, he said.
Out of the 295 issues, 104 advanced, 158 declined, two remained unchanged, and 31 were not traded in the week.
The DSE market capitalisation stood at Tk 1,02,467 crore on Thursday, 1.79 per cent down from the previous week’s closing at Tk 1,04,339 crore.
The DSE daily average turnover went down by 15.50 per cent to Tk 344.26 crore from the previous week’s Tk 407.39 crore.
Titas Gas topped the turnover leaders with a total transaction of Tk 176 crore, which accounts for 10.22 per cent of the week’s total turnover of Tk 1,721 crore at the bourse.
Shinepukur Ceramics, Beximco, Summit Power, Beximco Pharmaceuticals, Grameen Two Mutual Fund, Aims 1st Mutual Fund, ACI Formulations, Summit Alliance Port, and Keya Cosmetics are the rest of the week’s top 10 turnover leaders.
Al-Haj Textile is the week’s biggest gainer with a 61.69 per cent rise in its share price, with Lexco being the worst loser with a 19.74 per cent fall.
Of the total turnover of the week, ‘A’ category issues account for 64.60 per cent, ‘B’ category 2.12 per cent, ‘N’ category 29.41 per cent, and ‘Z’ category 3.87 per cent.
Courtesy: newagebd.com
