DSE closes week 55 points lower
UNB
Broad index at the countrys premier bourse, Dhaka Stock Exchange (DSE) closed the week 55 points lower than the previous week as the investors stayed in the sideline monitoring market capitalisation, reports UNB.
The daily average turnover at the DSE was Tk 619.97 crore, a down by Tk 207.52 crore or 25.08 per cent while last weeks average turnover was Tk 827.49 crore.
The DSE benchmark index, DSEX, closed the week at 4808.87 points, 55.58 points or 1.14 per cent lower than the last week. DSEX closed the previous week at 4864.45 points, gaining 72.14 points or 1.51 per cent.
The DSEX Shariah Index, DSES, closed the week at 1191.01 points dropping 6.08 points or 0.51 per cent.
Another index of DSE, DS30 slumped 27.44 points or 1.45 per cent to close at 1859.40 points on the previous week.
Analysing last weeks market situation, LankaBangla Securities said, Market eroded 55 points this week as investors remained cautious whereas 4800 level acted as a strong resistance level for the benchmark index this week.
The leading stockbroker also said, Investors remained in the sideline and observed market movement. Average daily turnover was 25.1 per cent down from previous week. Almost all of the major sectors ended down this
week in terms of market capitalisation. However, textile stocks were up by 1.3 per cent this week.
Referring to Bangladesh Bank data, the merchant bank said, Among the major
news in the money market, scheduled banks cut rates of interest on lending again in June as the businesspeople continued to show reluctance in receiving loans from the banking sector due stagnant business caused by political uncertainty.
According to the latest BB data, they also added, The weighted average interest rate on lending in the banking sector declined to 11.67 percentage points in June from 11.82 percentage points in May of 2015.
Of the 325 issues traded at the DSE on last week, 104 gained, 200 suffered loss and 21 remained unchanged.
The top losing sectors at the DSE were Miscellaneous losing 3.86 per cent, General Insurance 2.90 per cent and Telecommunication 2.19 per cent. The major gaining sectors of the week were Textile gaining 1.27 per cent, Engineering 0.86 per cent and Tannery 0.31 per cent. Top 10 losers at the DSE on the last week were Sandhani Life Insurance losing 19.15 per cent, followed by 4th ICB Mutual Fund 14.84 per cent, Beach Hatchery 14.04 per cent, 2nd ICB Mutual Fund 11.18 per cent, 6th ICB Mutual Fund 9.66 per cent, BD Welding Electrodes 9.23 per cent, 8th ICB Mutual Fund 8.25 per cent, Information Services Network 7.41 per cent, Northern General Insurance 7.34 per cent, and First Bangladesh Fixed Income Fund 7.14 per cent.
United Power Generation Distribution Company dominated the weeks top turnover chart with shares worth Tk 176.09 crore, followed by Islami Bank Tk 91.78 crore, Lafarge Surma Cement Tk 83.44 crore, Far Chemical Industries Tk 81.58 crore and Shahjibazar Power with shares worth Tk 79 crore.
The weeks top five gainers were Northern Jute Manufacturing with a gain of 27.27 per cent, followed by CVO Petrochemical Refinery 11.07 per cent, Apex Tannery 10.18 per cent, Kohinoor Chemicals 8.84 per cent and Saiham Cotton Mills 8.54
per cent.
