Home ›› 06 Nov 2021 ›› Stock
The benchmark DSEX index of Dhaka Stock Exchange (DSE) declined 2.2 per cent or 155 points last week to close at 6,907 points as investors adopted a wait-see approach amid extreme volatility seen by the market in recent weeks.
Meanwhile, daily average turnover declined by 14.83 per cent to stand at Tk 1,286 crore in the week.
The key index observed bearish trend in the first four consecutive sessions but remained slightly in the green zone in the closing session as the investors took position on the stocks at the lucrative price level.
The investors panicked and remained shaky in all the sessions throughout the week amid the heavy volatility of the index, stock insiders said.
Point to point estimate revealed that the Shariah DSES index and blue-chip comprising DS30 index lost 17.2 points and 37.6 points respectively to their previous week’s indices.
Besides, the market capitalisation of the bourse dropped Tk 7,965 crore to Tk 5,59,523 crore on Thursday, which was Tk 5,51,558 crore on Sunday. Out of the 382 issues traded, 90 advanced, 270 declined, and 18 remained unchanged on Dhaka bourse on the week.
“Stocks that failed to meet investors’ dividend expectation or declared no dividend continued to lose their value throughout the week. Fall in the price of several large cap stocks -BATBC, Square Pharma, Orion Pharma, Delta Life, Brac Bank has also dragged the index down,” said EBL Securities in its weekly market commentary.
Most investors took a wait and see approach amidst the continued volatility before they make fresh investments, added the stock brokerage firm.
Among the sectors, jute (3.7 per cent) and miscellaneous (3.0 per cent) sectors achieved price appreciation while life insurance (-6.4 per cent), ceramic (-4.3 per cent) and financial institution (-4.2 per cent) sectors witnessed price correction during the week.
The investors’ activities were mostly focused on textiles (19.3 per cent), bank (12.8 per cent) and pharmaceuticals (12.1 per cent) sectors while BEXIMCO (7.5 per cent), Beximco Pharma (4 per cent) and Renata (1.1 per cent) were on top of the weekly scrip-wise turnover board.
Top ten gainer companies as per closing prices are - Gemini Sea Food, Standard Ceramic Industries, Pharma Aids, Safko Spinnings, Hamid Fabrics, Al-Haj Textile Mills, Prime Textile Spinning Mills, Kattali Textile, Desh Garments, and The Dacca Dyeing and Manufacturing.
On the other hand, top ten loser companies are - Aramit Cement, Confidence Cement, Fareast Islami Life Insurance, MIDAS Financing, Pacific Denims, Khulna Power Company, Tamijuddin Textile Mills, Union Capital, Mithun Knitting, and Orion Pharma Limited.
