DSEX falls for second straight week

Despite good returns from the listed companies, the Dhaka Stock Exchange (DSE) extended the previous week’s losing streak with the benchmark DSEX index shedding 4.03 points or 0.06 per cent.

The key index lost 82 points in total in the previous two weeks.

However, investors’ participation increased in the past week as the average turnover rose 4.5 per cent to stand at Tk 1,290 crore, which was Tk 1,230 crore in the previous week.

The Shariah-based DSES index gained 4.27 points to stand at 1,504 points while the blue-chip comprising DS30 index shed 10 points or 0.38 per cent to end the week at 2,592 points.

Out of 392 issues traded, 184 advanced, 166 declined and 38 remained unchanged in the week.

“Although the government has extended the pandemic restrictions until February 21, strong earnings posted by the listed companies have largely alleviated investors' concerns,” said EBL Securities in its weekly market update.

The stock broker also mentioned that equity indices of the Dhaka bourse observed mixed trading sessions in the past week as investors opted for portfolio rebalance based on recent earnings declarations while a section of investors went for profit booking.

The DSES started this week negatively (-0.51 per cent) and continued to perform negatively on the following day as well. It fell (0.93 per cent) on Monday but gained (1.03 per cent) on Tuesday and remained positive on Wednesday (+0.27 per cent). It retained the gaining mood at the week’s closing session.

Investors were mostly active in miscellaneous (13.8 per cent), engineering (13.6 per cent) and textile (12.0 per cent) sectors. Most sectors witnessed negative performance, out of which general insurance (2.5 per cent), paper (2.5 per cent) and cement (2.1 per cent) witnessed highest returns and financial institutions (-5.1 per cent), ceramic (-4.6 per cent) and tannery (-4.2 per cent) witnessed the most correction.

Debutant Union Insurance was the week’s top gainer as its share price increased 59.77 per cent at the Dhaka bourse.

The company’s share trading started on January 16 and its price hiked 272 per cent to Tk 40.90 on Thursday.

Samorita Hospital was the top loser as its share price declined around 18 per cent in the week.

Square Pharma was the week’s top index puller while Beacon Pharma was the top index dragger.