Dhaka stocks ended flat last week after two weeks on the up while the turnover increased thanks to the investors’ profit-taking moves. The benchmark general index of the Dhaka Stock Exchange, DSEX, ended flat at 4,127.48 points, gaining 0.05 per cent, or 2.21 points.
The blue chip index of the DSE, DS30, lost 1.35 per cent, or 21.07 per cent, in the week to close at 1,540.02 points.
The daily average turnover of the bourse increased to Tk 663.43 crore from the previous week’s Tk 586.64 crore.
Market operators said the investors had moved to make some profits in the week due to the rise in shares prices following two weeks in the positive zone and that had pushed the market down.
Investors’ participation on the trading floor increased during the week as the Bangladesh Bank move to release the first instalment of the Tk 900 crore refinancing scheme made them happy, they added.
On the other hand, Bangladesh Securities and Exchange Commission’s decision to investigate unusual price hike of four companies made the gamblers dejected, which was another reason behind the market’s sluggish trend, said the operators.
Among the 296 shares and mutual funds traded in the week, 117 advanced, 167 declined and 12 remained unchanged.
‘In the midst of the increased participation of individual and institutional investors than earlier week amid lack of political turmoil united with the news of sectoral earnings facilitated the market to keep on green by 2.21 points,’ IDLC Investments said in its weekly report.
‘However, market showcased mixed scenario of upbeat, downbeat and flatness throughout the week. Additionally, frequent sector and scrip wise swings put the market sentiment back and forth. Acumen investors mostly played this week’s market sentiment,’ it said.
‘Besides, investors were seemed to be meticulous in their day-to-day trading activities,’ it also said.
Sector-wise, mutual funds lost the most as most of the MFs witnessed significant fall in shares prices due to their failure to declare attractive dividends for the unit holders.
Grameenphone led the week’s turnover chart as its shares worth Tk 167.38 crore changed hands.
Sunlife Insurance Company gained the most in the week as the price of its shares went up by 36.97 per cent, while Samorita Hospital, Libra Infusions, Pragati life Insurance, The Ibn Sina, Meghna Cement, Monno Stafflers, Safko Spinnings, Standard Ceramic and Marico Bangladesh were the other major gainers.
Square Pharmaceuticals lost the most as the price of its shares declined by 23.12 per cent, while ICB AMCL First Mutual Fund, Southeast Bank First Mutual Fund, Forth ICB Mutual Fund, Trust Bank First Mutual Fund, EBL First Mutual Fund and Seventh ICB Mutual Fund incurred heavy losses.
-With New Age input
