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Stocks close week mixed amid rickety trade

WT24 Desk

Stock market finished post-Eid week on Thursday mixed amid rickety trade as investors were highly cautious about making fresh commitment, BSS reports. The week began on Sunday with downward, but showed recovery in the next two sessions before coming back to the negative territory again during the last two days of the week.

The last session at the Dhaka Stock Exchange (DSE) was also mixed, with the broader index inching down and the two selective indices advancing marginally. Chittagong Stock Exchange (CSE) showed the similar trend during the week.  The price indices at the two stock exchanges, however, closed higher compared to their previous week’s close.

The DSEX ended the week flat at 4537.91, which was 30.34 points or 0.67 percent up from previous week’s close at 4507.58. Similarly, the blue-chip DS30 and the Shariah DSES ended week 7.78 points up at 1778.70 and 5.91 points at 1116.74 respectively. CASPI of CSE was 9.31 points up at 13935.39 to close the week in green on Thursday.

The market experienced moderate trading at the beginning, with acquiring some momentum at mid-week on relatively active buying around financial and consumer securities. But, the uptrend could not sustain as the buying appetite of some investors evaporated into the higher sell pressure for profit-booking.

Activities during the week were also unstable as some investors were trying to take more comfortable position by booking the securities with strong fundamentals. The cap-focused investment made trading rickety, and resulted in over 13.0 percent down in daily average trade value on DSE, which was Taka 342.72 crore. The average daily trade volume also fell by 1.22 percent to 10.74 crore shares.

Banking and consumer securities and mutual funds were relatively on active demand during the week when the top five advancing companies included Exim Bank, Gemini Sea Food, EBL First Mutual Fund, PHP First Mutual Fund and Fareast Finance.

Insurance, cement and miscellaneous shares were on falling trend during the week, with SEML Fund, Samata Leather, Islami Insurance, Prime Islami Life and Nitol Insurance losing most. The top turnover leaders were ACME Lab, Squire Pharma, SPCL, Islami Bnak and Lafarge Cement.

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