Home ›› 11 Feb 2023 ›› Stock
The country’s premier bourse Dhaka Stock Exchange (DSE) faced corrections for the second week in a row as investors continued rebalancing their portfolios in response to the ongoing quarterly earnings disclosures of listed companies.
The DSEX, the key index of the capital bourse, tumbled 11.43 points to settle the week at 6,283.
Among other indices, the DS30, the blue-chip index, edged up 4.62 points to 2,235, while the DSES, the Shariah-based index, inched down 2.07 to close at 1,371.
Turnover, another crucial market indicator, however, surged this week, with the average DSE turnover increasing by 14.23 per cent to Tk 649 crore.
The IT sector reigned the turnover chart with a contribution of 16.23 per cent to the total turnover of the Dhaka bourse.
Investors opted to stay on the sidelines almost throughout the week, until the market experiences a major trigger to regain a consistent positive momentum, as their investment appetite weakened due to the dismal financial performance of the majority listed companies, EBL Securities, a stockbroker, stated in its weekly market review.
The market remained concentrated on selective issues which were able to post a favourable bottom-line result defying the current macroeconomic adversities, it added.
Investors had mostly been active in the IT sector (17.9 per cent), followed by pharmaceutical (14.0 per cent) and the miscellaneous (11.6 per cent).
The jute sector posted the highest gain of 9.5 per cent, while the general insurance suffered the most with a loss of 4.4 per cent.
The market performed five sessions this week, with the DSE starting the week on a negative note of 0.13 per cent on Sunday.
It remained negative on Monday.
The market, however, turned positive on Tuesday with a gain of 0.07 per cent, and continued the momentum with a gain of 0.16 per cent on Wednesday.
The DSE closed the final session lower with a correction of 0.20 per cent on Thursday.
All the financial sectors registered dismal performance this week with the general insurance experiencing the highest loss of 4.39 per cent, followed by life insurance (3.40 per cent), NBFI (0.17 per cent), and mutual fund (0.09 per cent).
The banking sector, however, posted a gain of 0.04 per cent.
The non-financial sectors posted mixed performance this week, with the food & allied booking the highest gain of 0.54 per cent, followed by telecommunication.
On the other hand, the fuel & power witnessed the highest loss of 0.12 per cent, followed by pharmaceutical (0.08 per cent), and engineering (0.08 per cent).
Out of the 401 securities traded, 42 stocks advanced, 138 issues declined, and 200 scrips did not see any movement on the DSE trading floor.
Apex Footwear topped the gainers’ list this week with a surge of 22 per cent, while Pragati Life Insurance was the week’s worst loser by giving up 26.2 per cent.
