Benchmark index at the country’s premier bourse Dhaka Stock Exchange (DSE) came under the 4,700-point mark last week as it has continued to fall due to selling pressure of large cap stocks, UNB reports. The daily average turnover at the DSE was Tk 383.57 crore, up by 1.22 percent, while last week’s average turnover was Tk 378.95 crore.
The DSE benchmark index, DSEX, closed the week at 4,676.63 points, 104.73 points, which is 2.19 percent lower than the previous week. DSEX closed the previous week at 4,781.36 points, losing 1.56 points or 75.60 percent. The DSEX Shariah Index, DSES, closed the week at 1,114.84 points losing 34.89 points or 3.03 percent.
DS30, the blue chip index of DSE, shed 49.50 points or 2.73 percent to close at 1,766.50 points on the previous week. Observing the last week’s capital market, LankaBangla Securities said, “Stock faltered heavily closing the week below 4,700 mark in this week as selling frenzy continued to mar the investors’ confidence.”
“Selling pressure on large cap stocks continued to batter market sentiment while investors were eyeing on sector specific stocks to take position as the earnings season directed the market movement”, the leading stockbroker said .
Referring to the exporters, LankaBangla said, “Export earnings from the US market rebounded strongly in the first quarter (Q1) of current fiscal year growing by 15.75 percent compared with that in the same period of last fiscal year due to progress in RMG remediation work. The earnings from India also witnessed a growth of 11.42 percent year-on-year in Q1.”
Of the 326 issues traded at the DSE last week, 58 gained, 253 suffered loss and 15 remained unchanged. The top losing sectors at the DSE were Telecommunication losing 13.93 percent, Cement 7.30 percent and NBFI 5.78 percent. The major gaining sectors of the week were Food & Allied gaining 1.60 percent, Mutual Fund 0.18 percent and Bank 0.09 percent.
Top 10 losers at the DSE were Matin Spinning Mills losing 14.07 percent, BD Welding Electrodes 13.66 percent, Appollo Ispat 12.50 percent, Modern Dyeing & Screen Printing 10.65 percent, Green Delta Mutual Fund 10.53 percent, Lafarge Surma Cement 10.47 percent, Midas Financing 10.37 percent, Hakkani Pulp & Paper 10.16 percent, Sunlife Insurance Company 10.00 percent, and Monno Ceramic 9.48 percent.
Beximco Pharma dominated the week’s top turnover chart with shares worth Tk 113.05 crore, followed by Lafarge Surma Cement Tk 99.53 crore, Mozaffar Hossain Spinning Mills Tk 56.42 crore, BRAC Bank Tk 50.87 crore and KDS Accessories with shares worth Tk 45.77 crore.
The week’s top five gainers were Alltex Industries gaining 10.92 percent, Industrial Promotion and Development Company (IPDC) 8.67 percent, Zahintex Industries 7.66 percent, Jamuna Bank 7.21 percent and Reliance One: The first scheme of Reliance Insurance Mutual Fund 7.14 percent.