Dhaka stocks finished in the red last week with a declining turnover as political unrest and four straight dawn-to-dusk strikes took its toll on the bourse.
The key index of the Dhaka Stock Exchange, DSEX, declined to 4,223.62 points, shedding 0.92 per cent, or 39.32 points while the old benchmark general index of the bourse, DGEN, finished at 4,568.47 points, losing 2.48 per cent, or 116.01 points.
The average daily turnover of the DSE declined to Tk 855.40 crore from that of the previous week’s Tk 983.05 crore.
Market operators said the investors had been apprehensive of prolonged political unrest after Jamaat-e-Islami and its student wing called the nationwide strikes.
They think the situation will get worse when the question of implanting the verdicts will come, as
most of the accused in the war crimes are opposition leaders, the operators added.
Fuel and power sector remained the most attractive option to the buyers as its companies occupied 30.63 per cent of the week’s total turnover.
General insurance companies gained the most, 7.62 per cent, followed by tannery sector, 5.51 per cent, and fuel and power sector, 3.76 per cent.
Among the 295 shares and mutual funds traded in the week, 94 advanced, 191 declined and 10 remained unchanged.
‘Expectation based rollercoaster seemed to dominate the bourse over the week ahead of corporate declaration. As sentiment rocked back and forth over vibrant political scenario and stock-wise expectations, indices eventually went negative as week ended,’ IDLC Investments said in its weekly market commentary.
‘Participation got sluggish by 12.98 per cent as investors stayed cautious. Overall market observed a mixed investors’ response to earning expectations and investment scenario, which eventually reflected a multi mania situation of profit booking, natural correction, scrip wise movements, fresh positioning and repositioning in lucrative scrips throughout the week,’ it also said.
Meghna Petroleum led the turnover chart last week as its shares worth Tk 331.47 crore changed hands.
AMCL Pran gained the most in the week as the price of its shares increased by 36.69 per cent, while Pioneer Insurance, Renwick Jajneswar, Apex Adelchi Footwear, Green Delta Insurance, Republic Insurance Company, Argon Denims, Tallu Spinning, Apex Tannery and National Housing Finance and Investments were the other top gainers.
JMI Syringes & Medical Devices lost the most as the price of its shares dipped 39.70 per cent while Delta Life Insurance, Stylecraft, Savar Refractories, First Lease Finance and Investment, Rupali Life Insurance Company, Sunlife Insurance Company, AIBL First Islamic Mutual Fund, Ambee Pharma and Grameenphone followed the chart.
-With New Age input
