Market capitalisation drops 0.54%

The consecutive fall in the three-day index has reduced the share price of listed companies, which has affected the market capitalization.

Last week’s market capitalisation fell 0.54 percent compared to the previous week. It was Tk 5.18 lac crore last week and by the end of the week it dropped to Tk 5.15 lac crore.

First transaction of last week started on Tuesday, due to the Eid holiday. The transaction lasted for three days till Thursday. The index has declined in these three days. At this time, the transaction has come down to the lowest level in two months.

The indices of the Dhaka bourse had witnessed three consecutive negative sessions in the first week after Eid vacation as investors remained pessimistic about the market outlook amidst escalating macroeconomic concern, Said EBL Securities.

DSEX, the prime index of the Dhaka Stock Exchange, declined by 42.45 points or 0.7 per cent to settle at 6,325 points this week.

Shrinking foreign currency reserve, widening current account deficit, high inflationary pressures are the key macroeconomic issues concerning the investors. Average turnover declined by 8.3 per cent to settle at T 700 crore as against Tk 763 crore in the previous week.

Investors were active primarily in Textile (15.6 per cent), Miscellaneous (11.5 per cent) and Fuel & Power (9.5 per cent) sectors.

Sectors in DSE mostly witnessed negative performances out of which Jute (1.9 per cent), Fuel & Power (0.5 per cent) and Textile (0.1 per cent) observed positive returns and Ceramic (-2.7 per cent), General Insurance (-2.5 per cent) and IT (-2.4 per cent) witnessed the most corrections this week.

The top ten gainer companies by closing price were Golden Son Limited, Sunlife Insurance Company Limited, Eastern Cables Ltd., Information Services Network Ltd., Miracle Industries Limited, FineFoods Limited, National tubes Ltd., Nurani Dyeing & Sweater Limited, Titas Gas Trans. & Dist. Co. Ltd., and Atlas Bangladesh Ltd.

The top ten loser companies by closing price were Janata Insurance Company Ltd., Pragati Life Insurance Ltd., NRB Commercial Bank Limited, Yeakin Polymer Limited, Robi Axiata Limited, Meghna Insurance Company Limited, Monno Fabrics Limited, Khulna Power Company Ltd., Emerald Oil Industries Limited, and Bangladesh General Insurance Company.