The country's stocks witnessed a big falling streak as the worried investors went on a panic selling throughout the last week. Government's transfer to liquidate People's Leasing and Financial Services (PLFS) and the telecom regulator's strict stance on Grameenphone mainly created panicking situation among the investors which prompted them to sell off shares.
Besides, gas price hike made a negative impact on the manufacturing companies' shares as this might reduce their profits which also pressuerised investors to sell their shares. Market analysts said, many of the investors seeking to remain on the sidelines, awaited a bouncing market as the government’ measures failed to get investors' confidence up.
The prime index of Dhaka Stock Exchange went down by 158.49 points or 2.95 percent during the week to settle at 5,222 on Thursday. The DSE decreased by 200 points and the DSE market-cap declined by Tk 132 billion since the national budget for the FY 2019-20 was passed on June 30, 2019. Meanwhile, the blue chips index (DS30) slumped by 52.36 points or 2.74 percent during the week to close at 1,857 on Thursday and Shariah index (DSES) dropped 38.79 points or 3.15 percent to finish at 1,194 in the span of one week.
The market capitalisation of the DSE has dropped by 2.75 percent to Tk 3,866 billion as against Tk 3,975.64 billion on the first working day of the week. The daily average turnover stood at Tk 4.22 billion, which was 13 percent lower than the previous week's average of Tk 4.86 billion. The losers beat the gainers as out of 354 issues traded, 281 closed lower, 60 higher and 13 remained unchanged on the DSE floor.
National Life Insurance Company dominated the DSE floor and topped the week's turnover chart. Market data showed, 2.99 million shares of the National Life Insurance were traded on the floor of the Dhaka Stock Exchange during the week and its market value stood at almost Tk 786 million in the week. It was followed by Runner Automobiles, Asian Tiger Sandhani Life Growth Fund, JMI Syringes and Rupali Insurance. SEML FBLSL Growth Fund was the week's best performer, posting a gain of 60 percent while Peoples Leasing and Finance Services was the week's worst loser, slumping by 25 percent.
On the other hand, the port city bourse, the Chattogram Stock Exchange (CSE) also saw negative trend during the last week with its selective category index (CSCX) losing 286 points to close at 9,698. All-Share Price Index (CASPI) of the CSE was lower by almost 497 points on Thursday to close at 15,972. At the CSE, a total of 313 issues were traded. Among them, 57 closed higher, 246 ended lower and 10 remained unchanged. The number of shares transacted on the floor of the CSE was 36.54 million and the total turnover in value was Tk 832.71 million during the last week.
