Home ›› 18 Sep 2021 ›› Stock
The average weekly turnover at the Dhaka Stock Exchange shrunk remarkably last week as the figure declined by around 20 per cent compared to that of the previous week.
The average turnover stood at Tk 2,224 crore at the end of the week while it was Tk 2,778 in the previous week.
The market capitalisation of the bourse also fell by 2 per cent and settled at Tk 5.74 lakh crore.
The amount was Tk 5.86 lakh crore in the week before last week.
The benchmark index – DSEX - was in a mixed terrain throughout the week and settled at 7,228 points, down by 30 points from 7,258 of the previous week.
The index fell sharply on Sunday and Tuesday, but it was in a gaining trend on the remaining three days.
However, the capital market went through a series of actions from the regulators.
In particular, contradictory stances of the Bangladesh Bank and the Bangladesh Securities and Exchange Commission (BSEC) over the stabilisation fund, the regulatory order to offload more shares of three giant companies, the introduction of an alternative to the OTC market, and facilitating exit passageway for 29 companies were the most significant issues of the week.
Talking to The Business Post, Shakil Rizvi, a shareholder director of the DSE and former president of the DSE Brokers Association (DBA), said the selling pressure was a bit higher than the buying pressure last week.
As a consequence, the main index ended lower compared to the previous week, he said.
EBL securities, in its weekly market review, said all sectors recorded price corrections last week due to profit booking sell-offs.
Besides, regulators’ dilemma over the formation of a market stabilisation fund made investors nervous at the Dhaka bourse.
On the other hand, three giant companies – Walton, Berger, and ICB – observed sale pressure following a regulatory directive to offload more shares in compliance with the BSEC rules.
Walton turned out to be the week’s top loser company as its share price declined by 16.7 per cent or Tk 231.4 to Tk 1,206.4.
Meanwhile, the share price of Berger Paints declined by Tk 80 or 4 per cent and stood at Tk 1,841, while that of ICB fell by Tk 10.5 or 7 per cent to Tk 131.5.
The top gainer was National Housing with a 28 per cent increase in its share price. In the last trading session, its share price stood at Tk 87.4.
Beximco led the turnover board last week as its turnover increased by 5.46 per cent to stand at Tk 118 crore.
According to the EBL review, investors were mostly active in non-bank financial institution (13.1 per cent), pharma and chemical (11.3 per cent), and engineering (10.5 per cent) sectors.
Most of the sectors observed corrections, out of which miscellaneous (5.8 per cent), travel (5.7 per cent) and life insurance (4.9 per cent) experienced positive performance last week while engineering (-12.02 per cent), ceramic (-4.7 per cent) and general insurance (-3.5 per cent) witnessed price corrections.
In the meantime, the port city bourse – CSE – also registered a slight gain this week, with CSCX and CASPI advancing by 9.5 and 10.0 points respectively.
