DSE ends week lower amid volatile trading

The country’s prime bourse Dhaka Stock Exchange (DSE) ended lower on the week's last trading day on Thursday amid volatile trading throughout the week as cautious investors booked profit, especially on large-cap stocks.
Of the five trading sessions of the week, first session closed higher while last four edged down with high volatility.
The prime index of DSE went down by 57.62 points or 1.24 per cent to close at 4,583.42 points. The two other indices also closed in the red. The DS30 index, comprising blue chips, went down by 31.14 points or 1.76 per cent to finish at 1,741.09. The DSE Shariah Index shed 18.87 points or 1.68 per cent to close the week at 1,105.36.
“Selling frenzy couldn’t let the market move through its resistance. DSEX touched its resistance at 4,656-level and could not break through it on the first day of the week. As a result, the market experienced correction during the last four trading sessions,” LankaBangla Securities, a stock stockbroker said in its weekly market review.
“Correction of the stock price of large-cap companies such as Grameen Phone, Lafarge Surma, Titas Gas contributed to the decrease in index,” the stockbroker added.
IDLC Investments said in its weekly market analysis, “Ripples in investors’ sentiment and apparent lack of directions prompted much more market level volatility”.
“Shifts across selective large-cap and micro-cap issues sterilized the market momentum to evolve at intra-day sessions but could not sustained for long,” it said.
However, sectoral preference remained almost same as of the last week while investors’ switch prolonged for lucrative price hunts, including better fundamentals, the merchant bank said.
The daily turnover averaged Tk 4.33 billion, which was 14 per cent lower than the previous week’s average of Tk 5.02 billion.
All the large cap sectors closed in the red except food and allied and allied, which gained 0.02 per cent.
 Telecommunication retraced by a hefty 6.26 per cent, cement declined by a significant 3.42 per cent, fuel and power and pharmaceuticals lost 2.76 per cent and 0.25 per cent respectively. Banks and NBFIs also lost 1.52 per cent and 1.55 per cent respectively. The losers took a modest lead over the gainers as out of 324 traded issues, 150 closed lower, 142 higher and 32 remained unchanged on the DSE trading floor last week.
 Hakkani Pulp and Paper was the week’s best performer, posting a rise of 26.94 per cent while Far East Knitting and Dyeing Industries was the week’s worst loser, plunging by 20.83 per cent.

DSE ends week lower amid volatile trading

The countrys prime bourse Dhaka Stock Exchange (DSE) ended lower on the weeks last trading day on Thursday amid volatile trading throughout the week as cautious investors booked profit, especially on large-cap stocks. Of the five trading sessions of the week, first session closed higher while last four edged down with high volatility. The prime index of DSE went down by 57.62 points or 1.24 per cent to close at 4,583.42 points. The two other indices also closed in the red. The DS30 index, comprising blue chips, went down by 31.14 points or 1.76 per cent to finish at 1,741.09. The DSE Shariah Index shed 18.87 points or 1.68 per cent to close the week at 1,105.36. Selling frenzy couldnt let the market move through its resistance. DSEX touched its resistance at 4,656-level and could not break through it on the first day of the week. As a result, the market experienced correction during the last four trading sessions, LankaBangla Securities, a stock stockbroker said in its weekly market review. Correction of the stock price of large-cap companies such as Grameen Phone, Lafarge Surma, Titas Gas contributed to the decrease in index, the stockbroker added. IDLC Investments said in its weekly market analysis, Ripples in investors sentiment and apparent lack of directions prompted much more market level volatility. Shifts across selective large-cap and micro-cap issues sterilized the market momentum to evolve at intra-day sessions but could not sustained for long, it said. However, sectoral preference remained almost same as of the last week while investors switch prolonged for lucrative price hunts, including better fundamentals, the merchant bank said. The daily turnover averaged Tk 4.33 billion, which was 14 per cent lower than the previous weeks average of Tk 5.02 billion. All the large cap sectors closed in the red except food and allied and allied, which gained 0.02 per cent. Telecommunication retraced by a hefty 6.26 per cent, cement declined by a significant 3.42 per cent, fuel and power and pharmaceuticals lost 2.76 per cent and 0.25 per cent respectively. Banks and NBFIs also lost 1.52 per cent and 1.55 per cent respectively. The losers took a modest lead over the gainers as out of 324 traded issues, 150 closed lower, 142 higher and 32 remained unchanged on the DSE trading floor last week. Hakkani Pulp and Paper was the weeks best performer, posting a rise of 26.94 per cent while Far East Knitting and Dyeing Industries was the weeks worst loser, plunging by 20.83 per cent.