Stocks end week with loss
BSS
Stock market ended week yesterday with extending loss due to mixed economic data, lower than expected quarterly earnings reports and buyers cautious move in making fresh investment, reports BSS.
The benchmark index of Dhaka Stock Exchange (DSE) lost 83.19 points during the week amidst selling frenzy that also resulted in price fall in the majority of the issues traded in the past five sessions. At the last session of the week, the DSEX closed in red at 4564.49 when the two selective indices followed the prime indicator.
The blue-chip DS30 closed the week 36.58 points down at 1725.97 when the Shariah DSES was 20.95 points lower at 1092.30.
Among the heavyweights, Lafarge Surma Cement, GP and GSK registered de-growth in earnings when Olympic, BATBC and Squire Pharma registered considerable growth during the third quarter of 2015. As the psychological support of 4600 was broken, investors went for selling frenzy, pushing the total turnover value up by nearly 31.0 per cent and the average daily trade value by 4.73 per cent to Tk 351.36 crore. Total trade volume also rose by over 30.0 percent when the daily average volume was 10.30 crore shares.
All the major sectors lost market capitalisation when the major losing sectors were cement (-4.97 per cent), engineering (-3.7 per cent) and IT (-3.7 per cent). The weeks lone gaining sector was the major gaining sector mutual fund (0.26 per cent).
Most of the issues traded closed lower at the buyers market. The worst losing companies were Imam Button (-24.8 per cent) Bengal WTL (-24.5 per cent) and Aziz Pipes (-24.4 per cent). The major gaining companies were Miracle Industries (52.4 per cent), Desh Garment (41.2 per cent), Zeal Bangla (31.0 per cent), and 3RD ICB (18.1 per cent).
On the last day of the week, the DSEX rebounded in early trading, with crossing 4600 points level, but the morning vibe lost to the lower earnings reports of different listed companies that started hitting the DSE news board.
Among the major economic update that influenced the market during the week was the regulators effort to stabilise price volatility. Bangladesh Securities and Exchange Commission (BSEC) restricted margin loan facilities for the first 30 trading days of newly listed companies and changing category.
BSEC also started discussions with Bangladesh Bank (BB) on banks capital market exposure that made investors more aware about fresh portfolio investment before knowing the outcome of the regulators talks.
Chittagong Stock Exchange (CSE) closed the week lower, with its CSCX losing 21.28 points to end at 8491.62. Out of the 234 issues traded, 70 closed higher and 123 lower while 86.15 lakh shares worth Taka 26.59 crore changed hands.
