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Weekly analysis

Prices of 90pc shares fall in DSE

Published : 23 Oct 2021 10:34 PM | Updated : 24 Oct 2021 01:07 PM

Around 90 percent traded securities lost prices as out of 378 issues traded, 338 closed lower on the Dhaka Stock Exchange trading floor during the last week.

Stocks went down for a second consecutive week as many investors were on a selling spree especially in the first three trading sessions of the week.

DESX, the prime index of the Dhaka Stock Exchange (DSE), declined by 167 points or 2.31 percent to close the week at 7,076. The DSEX went down more than 215 points in the past two weeks.

Besides, the DS30 index, comprising blue chips, went down by 19.80 points to close at 2,699 and the DSE Shariah Index (DSES) fell by 45.27 points to finish at 1,518.

The DSE’s market capitalisation also decreased by  Tk 103 billion during the last week and stood at Tk 5,698 billion on Thursday.

The week's total turnover declined to Tk 60.43 billion on the DSE as against Tk 90.62 billion in the week before.

Most of the investors were active in the banking sector, grabbing about 16 percent of the week's total turnover.

It followed by pharma sector (14 percent) and miscellaneous (9.0 percent).

Market analysts said many investors were busy to sell off their holdings which pushed the market down.

During the week, investors' participation also dropped as most of them adopted a cautious approach and some others opted for profit-booking, they said.

Read More: Govt revenue from DSE doubles

On the other hand, the year-end dividend and quarter-end earnings declarations may have failed to meet the investors' expectations, which prompted them to dump shares, commented International Leasing Securities.

As out of 378 issues traded, 338 closed lower, 31 higher and nine remained unchanged on the DSE trading floor.

Among the major sectors, cement witnessed the highest loss of 7.70 percent.

It was followed by non-bank financial institutions (5.80 percent), engineering (5.10 percent), power (4.20 percent), pharma (2.70 percent), food (1.40 percent), telecoms (1.10 percent) and banking sector (0.70 percent).

Beximco topped the turnover chart with shares worth Tk 4.75 billion changing hands.

It was followed by IFIC Bank (Tk 3.14 billion), Orion Pharma (Tk 3.13 billion), Delta Life Insurance (Tk 3.05 billion) and Fortune Shoes (Tk 2.90 billion).

On the other hand, the port city bourse, the Chittagong Stock Exchange (CSE) also saw a rapid fall with its selective category index (CSCX) losing 249 points in the last week to close at 12,433 points.

The All-Share Price Index (CASPI) of the CSE was lower by 423 points to close at 20,693 points.

Of the 335 issues traded, only 41 advanced, 286 declined and 8 remained unchanged on the CSE floor.

The port city's bourse traded 6.85 crore shares and mutual fund units with turnover value of Tk 228 crore during the time.

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