Stocks sluggish for second week in row

Stocks sluggish for second week in row


Indices on the Dhaka Stock Exchange and Chittagong Stock Exchange passed another sluggish week as investors focused on profit booking.

Week-on-week basis, the benchmark DSE General Index dipped 58.63 points, or 0.93 percent to 6,248.23 points.

Four out of five trading days this week closed red amid decreased market participation.

Total turnover dropped 21.42 percent to Tk 3,011.30 crore from the previous week’s Tk 3,832.26 crore. Daily average turnover was Tk 602.26 crore against Tk 766.45crore a week earlier.

LankaBangla Securities, a stockbroker, said index continued its correction phase this week with lower market participation.

Total share transactions fell 27.81 percent to 790,131,542 shares last week against 1,094,442,194 shares the week before.

Majority of the securities, however, traded down throughout the week. Of the issues traded on the premier bourse, 143 advanced, 169 declined and 25 ended unchanged.

Total market capitalisation came down to Tk 4, 23,736.41crore from the previous week’s Tk 4, 24,149.62 crore, a 0.10 percent fall.

EBL securities, in its weekly analysis, said investors concentrated on profit booking prior to the year-end which triggered the index to plummet.

Bd Thai Aluminium Ltd topped the turnover leaders last week. A total of 31,442,204 shares of Bd Thai Aluminium Ltd. worth Tk 99.83 crore traded on the DSE.

The other turnover leaders for the week were Square Pharma, Grameenphone, BRAC Bank, Paramount Textile, Golden Harvest Agro Industries, LankaBangla Finance, Shahjalal Islami Bank, City Bank and AB Bank.

During this week, the port city bourse, CSE closed in Red zone. The CSE Selective Categories Index fell 0.90percent to 11,696 points, while the CSECPI Index dropped 0.88 percent to 19,336 points.

The majority of the securities traded down throughout the week. Of the 286 issues traded on the Chittagong Stock Exchange, 112 advanced, 149 dropped and 25 remained unchanged.

A total of 46,746,767 shares worth Tk 137.53 crore changed hands on the port city bourse last week against 67,889,328 shares worth Tk 188.59 crore the previous week.


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