Dhaka stocks decreased last week after a week of gains as pre-budget tension kept investors watchful. Finance minister AMA Muhith on Thursday placed before parliament the proposed budget for the fiscal year 2014-2015. DSEX, the benchmark general index of Dhaka Stock Exchange, shed 0.77 per cent, or 33.93 points, to close at 4,396.54 points on Thursday, last trading day of the week.
Market operators said there was an apprehension in the market that the budget might not contain any stock market stimulating proposal that kept investors inactive throughout the week.
Investors also feared that if the budget dejects investors, it would affect the market with fall in share prices further, they said.
Operators said a section of investors sold shares to keep their losses minimum.
‘The market started with a mild positive tone at the beginning of the month of national budget,’ IDLC Investments said in its weekly market commentary.
During the rest of the week, the market was slow after recent early-year rally as budgetary expectations were only enough to create little buzz across the bourse, it said.
‘Besides, as sector wise movement was not vigilant due to lack of room in each sector with respect to respective valuation level, the market was more scrips concentrated,’ said IDLC.
DS30, the blue-chip index of the bourse, however, added 0.85 per cent, or 13.68 points, to finish at 1,622.95 points.
The Shariah index of the bourse, DSES, increased by 1.51 per cent, or 15.01 points, to finish at 1,007.83 points in the week.
Daily average turnover of the bourse increased to Tk 405.16 crore from Tk 260.71 crore in the previous week.
Of the 303 shares and mutual funds traded in the week, 66 advanced, 229 declined and eight remained unchanged.
Grameenphone led the turnover leaders with its shares worth Tk 183.11 crore changing hands in the week.
Lafarge Surma Cement, Meghna Petroleum, BSRM Steels, Heidelberg Cement, MJL Bangladesh, Square Pharma, Delta Life Insurance, ACI Limited and Mercantile Bank were among the other turnover leaders in the week.
Wata Chemicals gained the most in the week with a 529.60-per cent increase in its share price.
The Bangladesh Securities and Exchange Commission on Tuesday formed a committee to investigate abnormal rise in the share prices of the company.
Union Capital lost the most in the week, shedding 16.18 per cent.
-With New Age input
