Staff Correspondent
Dhaka stocks dropped last week due to a profit-taking selling pressure from investors after a two-week bull run, market operators said.
The daily average turnover at the Dhaka Stock Exchange, however, went up by 6.11 per cent to Tk 407.39 crore from the previous week’s Tk 383.93 crore.
The DSE general index lost 46.94 points, or 1.67 per cent, in the week to close at 2,760.67 on Wednesday, while its blue chips index, DSE20, shed 45.34 points, or 1.96 per cent, to finish at 2,271.20.
The country’s prime bourse shortened last week to four trading days from five as it remained closed on Thursday due to a public holiday on the occasion of Ashura.
DSE stockbrokers said the profit-taking selling pulled the market down during the week after the two-week rally. The retailers dominated the market, they said.
Before the last week’s bear run, the market had seen a bull run for a couple of weeks thanks to an increased participation of investors after a two-and-a-half-month lull.
Out of 295 issues, 155 advanced, 102 declined, four remained unchanged, and 34 were not traded in the week.
The DSE market capitalisation stood at Tk 1,04,339 crore on Wednesday, 0.32 per cent down from the previous week’s closing at Tk 1,04,678 crore.
Beximco Pharmaceuticals topped the turnover leaders with a total transaction of Tk 137 crore, which accounted for 8.41 per cent of the week’s total market turnover of Tk 1,630 crore at the bourse.
Summit Power, Titas Gas, Shinepukur Ceramics, Beximco, ACI Formulations, Grameen Two Mutual Fund, Aims 1st Mutual Fund, Uttara Bank, and National Bank were the rest of the week’s top 10 turnover leaders.
Maksons Spinning Mills was the week’s biggest gainer with a 28.81 per cent rise in its share price, while Wata Chemicals was the worst loser with a 16.67 per cent fall.
Of the total turnover of the week, ‘A’ category issues accounted for 69.65 per cent, ‘B’ category 1.54 per cent, ‘N’ category 25.06 per cent, and ‘Z’ category 3.75 per cent.
Courtesy: newagebd.com
