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Stock ends week in red

Dhaka stock market closed Thursday in red even after showing some higher activities in few trading sessions, reports agency.  DSEX, the benchmark price index of Dhaka Stock Exchange (DSE), lost over 40 points to close the week at 4472.13 when the blue-chip DS30 and the Shariah DSES finished lower at 1703.06 and 1088.79 respectively.  “This week started with positive momentum on hope of improvement in political situation. However, index dragged sharply in the last couple of days of the week after announcement of renewed countrywide strikes (except Dhaka and Chittagong)”, said Lanka Bangla Securities Limited.

IDLC Investment said market remained down when short-term strategy appeared the primary strategy and investors went for short-term gain instead of long term goals.  Investors were cautious throughout the week when they booked moderate return from some value stocks from different sectors, including fuel and power, telecom and pharmaceutical. The major gaining companies of the week were Samata Leather, Aziz Pipes, Pharma Aid, Reckitt Benckiser and Nitol Insurance. The most lagging sectors were bank, cement and food and allied when the major losing securities included Reliance Insurance, Unique Hotel, First Finance, Pragati Insurance and NFML.

At concluding session of the week, activities declined due to low level of participation when the daily trade value fell by 23.64 percent to Taka 274.60 crore and the volume declined by 28.94 percent to 5.36 crore shares. The market was highly tilted to buyers, with 207 issues declining and only 60 gaining.

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