Dse Weekly Review
Dhaka stocks end dull for second week
Dhaka stocks ended flat for the second week last week as the investors continued with the wait-and-see policy with a fear that the country’s political situation might turn unstable ahead of the next national election. DSEX, the benchmark general index of the Dhaka Stock Exchange, lost 0.98 per cent or 40.55 points, to close at 4,077.95 points.The blue-chip index of the bourse, DSE30, lost 2.33 per cent, or 36.06 points.
The average daily turnover of the bourse inched down by 0.95 per cent to Tk 479.39 crore from the previous week’s Tk 484.01 crore.
As the election is drawing closer, anxiety among the investors is increasing with the political parties yet to reach an amiable solution, said market operators.
The recent development gives us the impression that it is very unlikely the ruling alliance and the opposition allies would find a peaceful solution ahead of the polls, they observed.
‘With the repetition of opening hype and eventually slowing down amid on-going political developments fostered market sentiment to remain volatile over the week,’ IDLC Investments said in its weekly market analysis.
‘Investment outlook stayed bleak over rising potential political warm-up as fear grew strong among investment community, keeping market participation indolent,’ said the merchant bank.
Among the 296 issues traded during the week, 151 advanced, 132 declined and 13 remained unchanged.
All the major sectors ended in red except pharmaceuticals and chemicals that gained 2.23 per cent as two of its issues — Libra Infusion and JMI Syringes & Medical Devices — recorded hefty gains of 46.01 per cent and 40.48 per cent respectively.
Telecommunications lost the most, 7.56 per cent, resulting from sharp decline of Grameenphone, which lost 7.4 per cent, as investors feared its huge investment for 3G service would hamper the earnings.
Bangladesh Submarine Cable Company lost 8.9 per cent followed by NBFI, 4.52 per cent, banks, 2.66 per cent, and fuel and power, 1.42 per cent.
GP became the week’s turnover leader with shares worth Tk 113 crore changing hands.
The other turnover leaders were BSCCL, RN Spinning, Heidelberg Cement, Padma Oil, Meghna Petroleum, Apex Adelchi, Active Fine Chemicals and Square Pharma.
-With New Age input
