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Stocks close week lower

WT24 Desk

Stock market closed week lower on Wednesday due to the sell pressure that was prominent at most of the trading sessions in the recent days, agencies report. There will be no share trading on Thursday as the day is a public holiday for the birthday of Bangabandhu Sheikh Mujibur Rahman and the National Children’s Day.

The sell pressure drove the indices down at the country’s twin stock exchanges when all the major sectors and most of the securities traded closed lower. The broader DSEX index of Dhaka Stock Exchange (DSE) lost 38 points during the week to close at 4446.28 on Wednesday.  Similarly, the blue-chip DS30 lost 27.76 points to 1693.30 and the Shariah DSES declined by 5.12 points to 1080.45.

The average daily trade value, however, increased by 17.0 percent to Taka 377 crore amid sell pressure when the trade volume fell by 5.10 percent to 10.97 crore shares due to cautious trade.  The large cap shares including BATBC and Summit Power incurred major losses when the most lagging sectors were food & allied and engineering. The major gaining sectors included cement and textile.

The top gaining companies were Keya Cosmetics, Aman Feed, and Orion Infusion when the major losing companies were NCCBLMF1, UCB and Eastern Lubricant.  Chittagong Stock Exchange (CSE) also closed the week down, with the major CSCX index finishing over 66 points lower at 8323.06.

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