Stocks continue correction phase

Weekly review

Stocks continued correction phase for second straight trading week amid decreased market participation with the key indices declining in the two days and gaining in the rest three sessions, reports UNB.

The daily average turnover was Tk 573.60crore which was 924.50 in the previous week, witnessed 38 per cent plunge.

Meanwhile, average trade volume also decreased by 46.4 per cent and total number of trades saw a 15.5 per cent decrease.

Week-on-week basis, the total turnover on the bourse was Tk 2,868.03 crore last week and decreased by 37.96 per cent which was Tk 4,622.53 crore the

previous week.

The country's leading bourse witnessed five trading days this week as usual.

Among five of the trading days of this week, two days closed red with combined fall of 62 points. The other three days saw a combined gain of 37 points.

LankaBangla Finance Limited, in its weekly market analysis, said index continued its correction phase with decreased market participation this week.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), slipped down to 24.85 points or 0.41 per cent to finish the week at 6,039.56 points.

The two other indices also edged lower. The DSE Shariah Index also lost 4.25 points or 0.32 per cent to close at 1,329.42 points. The DS30 index, comprising blue chips, fell 9.17 points or 0.42 per cent to settle at 2,188.29 points.

EBL Securities limited, a leading stockbroker, said mixed earning corporate declarations from listed issues have failed to satisfy investors' expectation that resulted into selling frenzy.

"Dominance of the stocks from Bank sectors have influenced the index in the opposite direction in this week", it added.

IFAD Autos Limited topped the weekly turnover list Uttara Bank, BRAC Bank, aamra networks, LankaBangla Finance and City Bank.

Besides, Services & Real Estate (3.1pc), Travel & Leisure (2.8pc) and Cement (2.8pc) sectors has experienced highest gain while Bank (-1.9pc), IT Sector

(-1.6pc) and Ceramics (-1.1pc) has experienced highest price correction.

Top gaining stocks of the week were Wata Chemicals, Desh Garments, and EBL First Mutual Fund.

Conversely, top losing stocks were IFAD Autos, Mithun Knitting and Dyeing and Social Islami Bank.

During this week, Chittagong Stock Exchange (CSE), the port city bourse, closed in red zone.

CASPI and CSCX were decreased by 0.43 per cent and 0.42 per cent respectively.

Of the 284 issues traded, 133 advanced, declined 134 and 17 remained unchanged.

Stocks continue correction phase

Weekly review

Stocks continued correction phase for second straight trading week amid decreased market participation with the key indices declining in the two days and gaining in the rest three sessions, reports UNB. The daily average turnover was Tk 573.60crore which was 924.50 in the previous week, witnessed 38 per cent plunge. Meanwhile, average trade volume also decreased by 46.4 per cent and total number of trades saw a 15.5 per cent decrease. Week-on-week basis, the total turnover on the bourse was Tk 2,868.03 crore last week and decreased by 37.96 per cent which was Tk 4,622.53 crore the previous week. The countrys leading bourse witnessed five trading days this week as usual. Among five of the trading days of this week, two days closed red with combined fall of 62 points. The other three days saw a combined gain of 37 points. LankaBangla Finance Limited, in its weekly market analysis, said index continued its correction phase with decreased market participation this week. DSEX, the prime index of the Dhaka Stock Exchange (DSE), slipped down to 24.85 points or 0.41 per cent to finish the week at 6,039.56 points. The two other indices also edged lower. The DSE Shariah Index also lost 4.25 points or 0.32 per cent to close at 1,329.42 points. The DS30 index, comprising blue chips, fell 9.17 points or 0.42 per cent to settle at 2,188.29 points. EBL Securities limited, a leading stockbroker, said mixed earning corporate declarations from listed issues have failed to satisfy investors expectation that resulted into selling frenzy. Dominance of the stocks from Bank sectors have influenced the index in the opposite direction in this week, it added. IFAD Autos Limited topped the weekly turnover list Uttara Bank, BRAC Bank, aamra networks, LankaBangla Finance and City Bank. Besides, Services Real Estate (3.1pc), Travel Leisure (2.8pc) and Cement (2.8pc) sectors has experienced highest gain while Bank (-1.9pc), IT Sector (-1.6pc) and Ceramics (-1.1pc) has experienced highest price correction. Top gaining stocks of the week were Wata Chemicals, Desh Garments, and EBL First Mutual Fund. Conversely, top losing stocks were IFAD Autos, Mithun Knitting and Dyeing and Social Islami Bank. During this week, Chittagong Stock Exchange (CSE), the port city bourse, closed in red zone. CASPI and CSCX were decreased by 0.43 per cent and 0.42 per cent respectively. Of the 284 issues traded, 133 advanced, declined 134 and 17 remained unchanged.