Stocks end week flat amid correction

Weekly review

Stocks faced marginal correction last trading week with 138 points fall as the risk-averse investors continued their selling spree, reports UNB.

Among five of the trading days of this week, three days closed red with combined fall of 154 points while the other two days saw a combined gain of 16 points.

Week-on-week basis, the total turnover on the bourse was Tk 4,622.53 crore last week and rise by 25.95 per cent which was Tk 3,670.07 crore the previous week.

The daily average turnover was Tk 924.5 crore and increased by 0.8 per cent comparing to previous week. Meanwhile, average trade volume also decreased by 7.7 per cent and total number of trades saw 19.5 per cent  increase.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), lost 137.90 points or 2.22 per cent to finish the week at 6,064.41 points.

The two other indices also edged lower. The DSE Shariah Index also shed over by 16.24 points or 1.20 per cent to close at 1,333.67 points. The DS30 index, comprising blue chips, went down by 3.97 points or 0.18 per cent to settle at 2,197.46 points.

LankaBangla Securities, analysing last week’s market situation, said it is suspected that the index has entered into a correction phase after a prolonged period of gaining trend.

A total of 1,430,527,803 shares were traded last week against 1,240,105,946 shares the previous week, a rise by 15.36 per cent.

At the end of the week, market capitalisation decreased by 1.23 per cent to Tk 407,576 crore.

The losers dominated gainers the throughout the week with 72 issues advanced, 247 declined and 15 remaining unchanged.

The top ten turnover leaders of the week were LankaBangla Finance Ltd, Uttara Bank Ltd, Islami Bank Bd Ltd, BRAC Bank Ltd, Export Import (Exim) Bank of Bangladesh Ltd, aamra networks limited, City Bank Ltd., Shahjalal Islami Bank Ltd, National Bank Ltd and IFAD Autos Limited.

The investors’ activity was mostly centered on bank (45.5 per cent), engineering (9.3 per cent) and pharmaceuticals (9.0 per cent) sectors while SHAHJABANK (10.3 per cent) and BRACBANK (5.2 per cent) led the scrip wise turnover board on Thursday.

EBL securities ltd, a stockbroker, said Bangladesh Bank’s move to punish errant banks has reshuffled the investors’ intention to impose maximum position on the stocks from the banking sectors.

Top gaining stocks of the week were STYLECRAFT (+64.20 per cent), METROSPIN (+26.25 per cent), and SINOBANGLA (+17.57 per cent).

Conversely, top losing stocks were AAMRANET (-20.35 per cent), SIMTEX (-15.72 per cent) and SHEPHERD (-14.21 per cent).

Like the premier bourse, the Chittagong Stock Exchange (CSE) also witnessed a bearish trend last week.

At the end of the week, the port city bourse, CSE closed in red zone.

CASPI and CSCX were decreased by 290.9 points and 471 points respectively.

Of the issues traded, 54 advanced and 218 declined with 14 unchanged.

Stocks end week flat amid correction

Weekly review

Stocks faced marginal correction last trading week with 138 points fall as the risk-averse investors continued their selling spree, reports UNB. Among five of the trading days of this week, three days closed red with combined fall of 154 points while the other two days saw a combined gain of 16 points. Week-on-week basis, the total turnover on the bourse was Tk 4,622.53 crore last week and rise by 25.95 per cent which was Tk 3,670.07 crore the previous week. The daily average turnover was Tk 924.5 crore and increased by 0.8 per cent comparing to previous week. Meanwhile, average trade volume also decreased by 7.7 per cent and total number of trades saw 19.5 per cent increase. DSEX, the prime index of the Dhaka Stock Exchange (DSE), lost 137.90 points or 2.22 per cent to finish the week at 6,064.41 points. The two other indices also edged lower. The DSE Shariah Index also shed over by 16.24 points or 1.20 per cent to close at 1,333.67 points. The DS30 index, comprising blue chips, went down by 3.97 points or 0.18 per cent to settle at 2,197.46 points. LankaBangla Securities, analysing last weeks market situation, said it is suspected that the index has entered into a correction phase after a prolonged period of gaining trend. A total of 1,430,527,803 shares were traded last week against 1,240,105,946 shares the previous week, a rise by 15.36 per cent. At the end of the week, market capitalisation decreased by 1.23 per cent to Tk 407,576 crore. The losers dominated gainers the throughout the week with 72 issues advanced, 247 declined and 15 remaining unchanged. The top ten turnover leaders of the week were LankaBangla Finance Ltd, Uttara Bank Ltd, Islami Bank Bd Ltd, BRAC Bank Ltd, Export Import (Exim) Bank of Bangladesh Ltd, aamra networks limited, City Bank Ltd., Shahjalal Islami Bank Ltd, National Bank Ltd and IFAD Autos Limited. The investors activity was mostly centered on bank (45.5 per cent), engineering (9.3 per cent) and pharmaceuticals (9.0 per cent) sectors while SHAHJABANK (10.3 per cent) and BRACBANK (5.2 per cent) led the scrip wise turnover board on Thursday. EBL securities ltd, a stockbroker, said Bangladesh Banks move to punish errant banks has reshuffled the investors intention to impose maximum position on the stocks from the banking sectors. Top gaining stocks of the week were STYLECRAFT (+64.20 per cent), METROSPIN (+26.25 per cent), and SINOBANGLA (+17.57 per cent). Conversely, top losing stocks were AAMRANET (-20.35 per cent), SIMTEX (-15.72 per cent) and SHEPHERD (-14.21 per cent). Like the premier bourse, the Chittagong Stock Exchange (CSE) also witnessed a bearish trend last week. At the end of the week, the port city bourse, CSE closed in red zone. CASPI and CSCX were decreased by 290.9 points and 471 points respectively. Of the issues traded, 54 advanced and 218 declined with 14 unchanged.