Home | Breaking News | DSE ends week in red

DSE ends week in red

Share prices at the country’s premier bourse — Dhaka Stock Exchange (DSE) — experienced fall for the two consecutive weeks to end the session in red amid ongoing political turbulence in the country, report news agencies. The DSE benchmark index, DSEX, closed the week at 4763.22 points, 25.01 points or 0.52 percent low than the previous week. DSEX closed the previous week at 4788.23 points, losing 53.49 points or 1.10 percent.

 The daily average turnover at the DSE was Tk 301.69 crore, a rise by 14.29 percent from the last week. Previous week’s average turnover was Tk 263.96 crore.  DSE Shariah Index, DSES, closed the week at 1130.92 points gaining 2.62 points or 0.23 percent than the previous week.  LankaBangla Securities on their weekly stock market analysis, said, “The benchmark index consolidated this week losing 25.01 points with average daily turnover up by 14.3 percent. Intraweek volatility was high during the week as investors remained cautious throughout the week amid political uncertainly hovering in the country.”

 “Multinational Corporations (MNC) performed well during the week as some of the MNCs reported outstanding earnings growth with good annual dividend,” said the stockbroker.  “The net investments in the savings instruments increased by 215.82 percent to Tk 157389.4 million in the seven months of the fiscal year 2015 compared with that of Tk 49834.4 million in the same period a financial year ago due to lucrative yield,” said LankaBangla Securities.

 IDLC Finance said, “Market responded positively to earnings growth despite gloomy forward outlook. However, political fault lines continued to concern long term investors and turnover remained muted throughout the session.”  Of the 319 issues traded at the DSE last week, 87 gained, 218 suffered loss and 14 remained unchanged.  Pharmaceutical sector among the 21 sectors in DSE witnessed the best week gaining 3.1 percent while Food and Allied gained 2.3 percent and Fuel and Power 1.7 percent.

 On the contrary, the losing sectors of the week were IT sector shedding 3.6 percent following by Cement 2.4 percent, Mutual Fund 2.3 percent, and Bank 2.2 percent.  Square Pharma dominated the week’s top turnover chart with shares worth Tk 68.46 crore, followed by MJL Bangladesh, ACI, Lafarge Surma Cement, and Shahjibazar Power with shares worth Tk 58.88 crore, Tk 52.86 crore, Tk 52.13 crore, and Tk 50.44 crore respectively.

 The week’s top gainers were Shahjibazar Power, National Tubes, Renwick Jajneswar & Company, Bangladesh Submarine Cable Company and Sonali Aansh gaining 29.16, 22.99, 16.78, 15.74 and 5.35 percent respectively.  Top losers at the DSE on the last week were International Leasing & Financial Service Limited, Dulamia Cotton, NCCBL Mutual Fund-1, IFAD Autos, and United Insurance.

Leave a Reply

Your email address will not be published. Required fields are marked *

*

%d bloggers like this: