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DSE fall continues

WT24 Desk

Benchmark index at Dhaka Stock Exchange (DSE) continued to fall last week as the investors remain cautious since the prime index came down under 4,600 points psychological mark, UNB reports.  The daily average turnover at the DSE was Tk 351.38 crore, a rise by 4.73 percent while last week’s average turnover was Tk 335.51 crore.

The DSE benchmark index, DSEX, closed the week at 4,564.49 points, 83.19 points or 1.79 percent lower than that of the previous week. DSEX closed the previous week at 4,647.68 points, losing 0.62 points or 28.95 percent.  DS30, the blue chip index at the DSE, also shed 36.58 points or 2.08 percent to close at 1,725.97 points on the previous week.

The DSEX Shariah Index, DSES, closed the week at 1,092.30 points losing 20.95 points or 1.88 percent.  Observing the last week’s capital market, LankaBangla Securities said, “Investors went for offloading their stakes this week amidst concern regarding macroeconomic condition while recent de-growth in Imports, Exports and Remittance made investors worried about the broad economy.”

“Third quarter (Q3) earnings declarations of corporate entities were mixed. Among the heavyweights, Lafarge Surma, GP and GlaxoSmithKline registered de-growth in earnings, whereas Olympic Industries, British American Tobacco Bangladesh and Square Pharma registered considerable growth in bottom line in Q3 2015,” the leading stockbroker added.

The merchant bank also said, “As the psychological support of 4600 was broken, investors went for selling frenzy this week. Market participation also decreased as average daily turnover went down by 8.4 percent this week compared to previous week.”  Of the 327 issues traded at the DSE last week, 92 gained, 212 suffered loss and 23 remained unchanged.

The top losing sectors at the DSE were Cement losing 4.97 percent, Engineering 3.7 percent and IT Sector 3.7 percent. Among the major gaining sectors, only Mutual Fund gained 0.26 percent.  Top five losers at the DSE were Far Chemical Industries losing 27.01 percent, Imam Button 24.79 percent, Bengal Windsor Thermoplastics 24.49 percent, Aziz Pipes 24.40 percent and Olympic Accessories 22.17 percent.

Lafarge Surma Cement dominated the week’s top turnover chart with shares worth Tk 57.65 crore, followed by Shahjibazar Power Tk 48.72 crore, KDS Accessories Tk 45.92 crore, CVO Petrochemical Refinery Tk 45.79 crore and IFAD Autos with shares worth Tk 38.95 crore.  The week’s top five gainers of Dhaka bourse were Miracle Industry gaining 52.44 percent, Desh Garments 41.20 percent, 3rd ICB Mutual Fund 18.10 percent, Samorita Hospital 17.68 percent and Standard Ceramic 16.82 percent.

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