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Stocks end week at 6-month low

The key index of Dhaka Stock Exchange (DSE) plunged to a six and half months low at 4556.94, losing 108 points over the week ending on Thursday, report agencies.
The broader DSEX hit its earlier bottom at 5445.97 on September 1, 2014, before surging to its most recent peak at 5334.0 in the following month. The market, however, lost steam to the subsequent political violence that made many investors skeptical about positive return on their investment.  The fallout of the blockade and recurrent strikes created volatility in the stock market, which caused loss in shares prices in the recent weeks.
Like many other weeks, DSE finished another week in red, but this time with general index hitting over six months low. The blue-chip DS30 and Shariah DSES also suffered loss to end the week at 1714.41 and 1104.78 respectively.  “Sinking business outlook amid political jolt kept the bearish nod unflinching. Investors are pretending little sign of bottoming out from the current level in equity market”, said Lanka Bangla Securities Limited. The market, however, saw two sessions ending in green before plunging into red as investors were taking gains from the previous positive close.
The entire week experienced sell pressure as political concern dented investors’ hope about any near term stability in the country. Some investors showed higher activities preferring blue-chip, which increased the average daily turnover by 5.8 percent.  Banking stocks took the most hit during the week by losing 7.55 percent. The other major losing sectors were fuel and power (-3.27 percent), NBFI (-3.13 percent) and mutual fund (- 2.12 percent) Top gaining sectors were cement (4.42 percent), food and allied (2.84 percent) and tannery (1.46 percent).
The week’s major gainers were Anwar Galvanizing (23.6 percent), Northern Jute (18.0 percent), Ifad Autos (13.7 percent), Eastern Cables (9.7 percent) and Berger PBL (9.3 percent).
The major losing companies were SIBL (-23.3 percent), Prime Bank (-15.5 percent), Rupali Bank (-14.0 percent) and SPCL (-12.9 percent)

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