DSE sees another shaky week
Key index loses 670 points in the last 30 trading days
Stock investors experienced a tumultuous week, as the indices of the Dhaka Stock Exchange (DSE) continued to bleed in selling pressure.
In 24 out of the last 30 trading days, the Dhaka bourse experienced downward momentum after lifting of the floor price.
Within these working days, the DSE benchmark index went down by 670 points, unnerving general investors.
The weekly turnover on the DSE dropped by 0.47% to Tk1975.75 crore compared to the previous week.
At the end of the week, the prime index, DSEX, decreased by 2.75% to 5778.33 points. The blue-chip index DS30 dropped by 2.27% to 2,011.09 points while the shariah-compliant index DSES declined by 2.98% to 1,254.54 points. But, DSMEX (DSE SME Index) increased by 6.11% to 1,630.38 points.
Of the total scrips traded, 35 advanced, 343 declined and 15 remained unchanged. Eighteen scripts were not traded.
Meghna Pet Industries, City General Insurance, and ICB AMCL First Agrani Bank Mutual Fund captured the DSE weekly top gainer list followed by Asiatic Laboratories, City Bank, and Shahjalal Bank.
On the other hand, Intech, AFC agro, and Shepherd Industries captured the DSE weekly top loser list followed by Fortune, Fareast Finance, Evince Textiles, and Bangladesh Building Systems Ltd.
The top three most-traded stocks were Asiatic Laboratories, Central Pharmaceuticals, and Alif Industries Limited.
EBL Securities, in its daily market commentary, said the benchmark index of the capital bourse failed to hold onto the revival spirit as the market turned back to its bearish vibe since selling pressure continued to dominate the trading board for the majority of the week owing to the enduring pessimism pervading across the trading floor.
The prolonged downbeat vibe in the market caused a subdued market sentiment among investors, inducing them to trim their equity positions further to protect their funds from the volatile market and remain on the sidelines until there is any major trigger for the market to a persistent positive momentum, the brokerage house said.
Investors' participation in the market continued its declining trend as average turnover decreased by 11.2% to Tk4,939 million as compared to Tk4,963 million in the previous week, according to the brokerage firm.
Investors were mostly active in the pharmaceutical sector with 20.4% of the transaction, followed by engineering sector 13.9% and textile sector 11.2%. Sectors ended in the red were led by the engineering stocks.
The port city bourse, Chittagong Stock Exchange (CSE), also settled on the red terrain last week. The turnover of the bourse stood at Tk97.17 crore.
Of the total scrips traded, 48 advanced, 243 declined, and 21 remained unchanged.
The selected indices (CSCX) and All Share Price Index (CASPI) declined by 2.13% and 2.26%, respectively.