Share price indices at the country’s premier bourse Dhaka Stock Exchange (DSE) has seen big drop last week amid low market participation due to fall in the major heavyweight stocks, UNB reports.
The daily average turnover at the DSE was Tk 378.95 crore, a down by 13.37 percent while last week’s average turnover was Tk 437.45 crore.
The DSE benchmark index, DSEX, closed the week at 4,781.36 points, 75.60 points or 1.56 percent higher than the previous week. DSEX closed the previous week at 4,856.97 points, gaining 3.67 points or 0.08 percent.
The DSEX Shariah Index, DSES, closed the week at 1,149.73 points losing 32.41 points or 2.74 percent.
DS30, the blue chip index of DSE shed 35.27 points or 1.91 percent to close at 1,816.00 points on the previous week.
A leading stockbroker of the country, LankaBangla Securities observing the last week’s capital market, said, “Benchmark index took significant correction in this week eroding some gains of the previous month. Market turnover value plunged by 13.4 percent amid shaky market confidence triggered by first quarter economic results.”
All the major sectors dragged down on heavy sell off as investors remained in sideline, the stockbroker said adding “Textile stocks was battered in his week as soon as Trans-Pacific Partnership Agreement (TPP) signed among 11 countries.”
“Fear about the RMG export outlook entrenched in investors’ mind as economists viewed the TPP (Trans-Pacific Partnership) agreement as threatening for competitiveness of RMG products in USA market” they also added.
Of the 325 issues traded at the DSE last week, 89 gained, 221 suffered loss and 15 remained unchanged.
The top losing sectors at the DSE were Telecommunication losing 8.89 percent, Cement 4.84 percent and Engineering 4.11 percent.
The major gaining sectors of the week were Bank gaining 2.08 percent and Mutual Fund 1.94 percent.
Top five losers at the DSE were Far Chemical Industries losing 16.26 percent, Alltex Industries 13.00 percent, Apex Foods 11.91 percent, Beach Hatchery 11.56 percent and Libra Infusions 11.45 percent.
Beximco Pharma dominated the week’s top turnover chart with shares worth Tk 102.74 crore, followed by Far Chemical Industries Tk 59.77 crore, SAIF Powertec Tk 56.66 crore, Grameenphone Tk 55.29 crore and Lafarge Surma Cement with shares worth Tk 54.26 crore.
The week’s top five gainers were Green Delta Mutual Fund gaining 21.28 percent, BRAC Bank 12.65 percent, DBH First Mutual Fund 12.24 percent, Anwar Galvanizing 11.31 percent and Legacy Footwear 11.04 percent.