Dhaka stocks declined last week after a straight gain in the previous four weeks with fall in turnover due to the ongoing political unrest across the country which
made investors panicky, market operators said.
The benchmark general index of Dhaka Stock Exchange, DSEX, declined by 3.76 per cent, or 165.21 points, to finish at 4230.73 points in last week.
DS30, the blue-chip index of the bourse, closed at 1,503.78 points, shedding 2.60 per cent or 40.21 points in last week.
The DSEX and the DS30 had advanced 486.79 points and 157.56 points respectively in earlier four weeks.
The daily average turnover of the bourse declined to Tk 616.53 crore from Tk 696.79 crore in the previous week.
Of the traded 296 shares and mutual funds, 45 advanced, 247 declined and 4 remained unchanged in last week.
Shares under the entire sector witnessed decline over the week, while life insurance sector lost 13.57 per cent and banking sector lost 5.33 per cent.
The market operators said that investors were very much tensed about the political confrontation across the county which drived them to go for shares sell-offs
anticipating further fall on the market.
They also said that some other institutional investors adopted a ‘wait-and-see’ policy to take the next investment move which was an important reason behind the
decline in turnover.
Profit-taking was another reason behind the decline in shares prices in last week as the market had advanced in the previous four weeks, the market operators said.
‘The final week of November made a depressive end. Negative vibe was prevalent as the week started, and persisted throughout,’ IDLC Investments said in its weekly
market commentary.
‘In the end, DSEX shed 165.21 points, while S30 accompanied with 40.21 points loss, as confidence continued to evaporate over political gloom. Investors naturally were
rather disappointed, since this weeks’ correction wiped out the previous weeks’ gain, entirely,’ it said.
‘Consequently, investors went back to the sideline causing diminishing turnover in the final sessions of the week,’ IDLC also said.
RN Spinning Mills led the turnover chart as its shares worth Tk 108.19 crore changed hands over the week.
Generation Next Fashions, Paramount Textile, Delta Life Insurance, Bengal Windsor Thermoplastics, Orion Pharma, Envoy Textiles, Meghna Petroleum, Jamuna Oil and
Grameenphone were among other turnover leaders.
Central Pharmaceuticals gained the most as its share prices increased by 22.86 per cent.
Olympic Industries lost the most over the week shedding 31.64 per cent, while Samorita Hospital, Delta Life Insurance, Al-Haj Textile, Jute Spinners, Kohinoor
Chemicals, Monno Stafflers, Apex Spinning, Libra Infusions and Miracle Industries followed the chart.
Three companies listed with the stock exchange had made corporate declaration in the week. Jamuna Oil issued 90 per cent cash and 10 per cent stock dividend, Bata Shoe
declared 195 per cent interim cash dividend and Aftab Automobiles declared 8 per cent cash and 12 per cent stock dividend for the shares of the respective companies.
-With New Age input
