Dhaka stocks declined slightly last week amid increased turnover as investors’ went for sell-offs later in the week to book some profit or to minimise some losses.
DSEX, the benchmark index of Dhaka Stock Exchange, declined by 0.52 per cent or 18.76 points,
to close at 3,571.27 points.DGEN, the previous benchmark index of the DSE, declined by 0.35 per cent or 12.87 points, to close at 3,707.49 points.
The DSEX and DGEN gained in the previous week after losing heavily in earlier three weeks.
The blue-chip index of the bourse, DS30, ended flat to 1,322 points by losing 0.06 points in the week.
Average daily turnover of the bourse increased by 23.92 per cent last week to Tk 200.01 crore compared with previous week’s Tk 161.40 crore.
Market operators said as the political situation did not deteriorate further last week some investors opted to go for short-term profit making which kept the market vibrant.
They said the market started with optimism last week as the share prices gained value in the week before.
But, in the later part of the week the market failed to keep the gains as investors went for profit-taking sell-offs, they said.
The market witnessed four trading sessions in the week, as Sunday was a public holiday on the occasion of Pahela Baishakh, the first day of the Bangla New Year 1420. Among them, three sessions gained marginally and one session lost heavily.
‘The market is still dull as most of the investors are reluctant to the market,’ said a stockbroker.
He said the institutional investors were still out of the trading floor which held the market from getting back in track.
‘As the political situation did not deteriorate further and there was no strikes and violence in the week the investors were little relaxed than before,’ he said.
Among the 287 issues traded last week, 134 advanced, 136 declined and 17 remained unchanged.
Top gaining sectors of the week were jute which gained 14.88 per cent, followed by IT 7.44 per cent, engineering 6.44 per cent and textile 1.48 per cent.
All the major sectors ended in the red except fuel and power which gained 1.48 per cent. Non-bank financial intuitions declined the most by 2.01 per cent, followed by banks that lost 1.22 per cent.
Pharmaceuticals declined by 0.82 per cent and telecommunications lost 0.55 per cent in last week.
Newly-listed Bengal Windsor Thermoplastic was week’s most traded stock with shares worth Tk 52.24 crore changing hands.
The other turnover leaders were Orion Pharma, Summit Purbanchol Power, Aamra Technologies, Titas Gas, Premier Cement, Unique Hotel, Beximco and RN Spinning Mills.
-With New Age input
