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Stocks break two-week winning streak

Published : 18 Dec 2021 10:59 PM | Updated : 19 Dec 2021 03:42 PM

Stocks witnessed a falling trend after breaking a two-week winning streak as investors took a cautious mood amid concern over omicron and tussle between two regulators.

Experts said the ongoing tension between the Bangladesh Bank and the Bangladesh Securities and Exchange Commission (BSEC) regarding some policy issues affected investors' sentiment badly, which pushed the market down.

Besides, Bangladesh has reported the first two cases of the new coronavirus strain recently that has already spread to nearly 80 countries, they mentioned.

On the other hand, many big stocks witnessed a price fall, putting further pressure on the indices, they said, adding that as a result, most of the investors pulled out of equities.

However, DSEX, the prime index of Dhaka Stock Exchange (DSE), went down by 116.57 points or 1.67 percent to close at 6,868 in the last week, after gaining 132 points in the past two weeks.

During this week, the DS30 index, comprising blue chips, decreased by 45.73 points to settle at 2,586 and the DSE Shariah Index (DSES) declined by 13.16 points to finish at 1,462.

Market capitalisation of the DSE also decreased by 1 percent to Tk 5,515 billion on Wednesday from Tk 5,571 billion in the week before.

The week's total turnover also declined to Tk 37.33 billion on the DSE which was Tk 53.10 billion in the previous week.

The daily turnover averaged out at Tk 9.33 billion on the country's premier bourse, which was 12.10 percent lower than the previous week's average of Tk 10.62 billion.

However, the miscellaneous sector saw the biggest loss of 4.80 percent. It was followed by textile (3.80 percent), cement (3.0 percent), financial institutions (2.80 percent), banking (2.40 percent) and textile (1.30 percent).

Of the traded issues, 297 declined, 75 increased and 8 remained unchanged on the DSE trading floor.

ONE Bank topped the turnover list with shares worth Tk 2.91 billion changing hands.

It was followed by Beximco, Fortune Shoes, GSP Finance and Genex Infosys.

Eastern Lubricants was the top gainer, posting a 21.47 percent gain, while ONE Bank was the worst loser, shedding 21.31 percent.

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 230 points in the last week to close at 12,064 points.

The All-Share Price Index (CASPI) of the CSE was lower by 387 points to close at 20,075 points.

Of the 328 issues traded, 76 advanced, 241 declined and 11 remained unchanged on the CSE floor.

The port city's bourse traded 4.39 crore shares and mutual fund units with turnover value of Tk 137 crore during the time.

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