Home | Business | DSE slips below 4800-point to finish week

DSE slips below 4800-point to finish week

Trading at the Dhaka Stock Exchange (DSE) closed week lower, with the broader index sliding below 4800-point mark and the daily transaction declining amid lackluster participation, report agencies.
DSEX, the benchmark index, witnessed high level of volatility at the last session as investors were apparently lack of direction when BNP-Jamaat alliance had been continuing blockade and hartal despite repeated call by different quarters for shunning the politics of destruction.

“Investors could not fully avoid the political tension prevailing in this country. That is why they went for sell off and remained in the sideline to observe market movement. But, still some investors are looking at stocks that are trading at an attractive valuation level”, said Lanka Bangla Securities Limited.
During the week, the general index was struggling to hold back the comfortable 4800-point mark before it lost the upper position with losing 53.49 points from the last week’s close.

The blue-chip DS30 and the Shariah DSES also slipped by 8.31 points and 5.41 points to 1777.86 and 1128.29 respectively.
Activities were also dull at the last session of the week when the daily transaction value was up by 2.89 percent to Taka 266.85 crore from Wednesday’s Taka 259.35 crore. The trade volume, however, decreased by 14.11 percent to 6.51 crore shares against 7.35 crore shares of the previous session. The market remained tilted to buyers during most of the trading sessions when majority of the traded scrips closed lower. The last session saw 153 issues falling when 109 were advancing on cap-focused buying.

Banking stocks gained 1.5 percent in market capitalisation ahead of their annual declaration. Pharmaceuticals also registered gain of 0.9 percent.
The top gaining sectors of the week were food and allied (2.25 percent), bank (1.47 percent) and pharmaceuticals (0.94 percent).
The major losing sectors were telecommunication (-4.61 percent), cement (-4.33 percent), engineering (-3.89 percent) and fuel and power (-3.05 percent).
Top gaining companies were, Dulamia Cotton (13.6 percent), Bangas (12.9 percent), CNA Textile (12.1 percent), Tallu Spinning (11.3 percent) and Meghna Petroleum (10.0 percent).
The most losing companies were BSC (-13.3 percent), Ifad Autos (-10.0 percent), All Tex (-9.8 percent), and 1STICB (-9.5 percent).

Leave a Reply

Your email address will not be published.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


%d bloggers like this: