Country’s both the bourses, Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) closed week in downbeat following liquidating pressure from risk-averse investors, reports BSS.
DSE slipped to red after a single session break as investors mostly followed cautious stance and booked quick gain.
Extending trend of previous session, market started with optimism, but morning cheerfulness reversed within the first one and half an hour as risk-averse investors opted to liquidate their investment ahead of year-end dividend declarations and quarter-end earnings disclosures, fearing decline the earnings and dividend amid the ongoing pandemic.
The optimistic investors although took positions in general insurance, cement and telecom sector stocks but they failed to hold plunging he indexes.
The broad index, DSEX settled at 4916.97 points on Thursday, the last working day of the week, with a loss of 17.49 points or 0.35 percent.
Besides, two selective indices, Blue Chip index, DSE30 and Shariah index, DSES went down 8.29 points and 3.13 points to settle at 1669.37 points and 1108.79 points respectively. On the DSE trading floor, a total number of 173,049 trades were executed in today’s trading session with a trading volume of 368.22 million securities.
DSE’s turnover, a crucial indicator of the market, plunged by 11 percent over last session as the investors preferred sideline in making investment. The turnover stood at Taka 7.93 billion from Taka 8.88 billion in the previous session.
Losers took lead over gainers as out of 355 issues traded, 106 securities gained price while 202 declined and 47 remained unchanged.
The market-cap of DSE decreased to Taka 3,996 billion which was Taka 4,026 billion in the previous session.
General insurance sector dominated the turnover board with 30 percent of total turnover while top gainer lists were comprised of general insurance stocks, according to a market analyst, International Leasing Securities Limited (ILSL).
It said major sectors witnessed correction today. Among the major sectors – engineering (- 5.1%), financial institution (-1.5%) and textile (-1.4%) sectors witnessed price correction while general insurance (1.0%), cement (0.6%) and telecom (0.4%) sectors achieved price appreciation.
The investors’ activity was mostly centered on general insurance (29.5%), textile (14.3%) and mutual fund (12.0%) sectors while Northern Insurance (2.9%), Beximco Pharma (2.8%) and Continental Insurance (2.7%) led the scrip wise turnover board, added ILSL.
Northern Insurance topped the turnover chart followed by Continental Insurance, Islami Insurance, Beximco Limited, Beximco Pharma, Walton Hi-Tech, Republic Insurance, Kattali Textile, FBFIF and Express Insurance.
The top 10 gainers were Bangladesh General Insurance, Northern Insurance, Islami Insurance, Phoenix Insurance, Rupali Bank Balanced Fund, Janata Insurance, Monno Ceramic, Stylecraft and Gemini Sea Foods.
The top ten losers are Walton Hi-Tech, Tasrifa Industries, CNA Textile, Kattali Textile, NCCBL Mutual Fund 1, United Air, Aman Cotton, Intraco Refueling, Dragon Sweater and GSP Finance.
On the other hand, port city bourse, Chittagong Stock Exchange (CSE) also finished the week in red.
Selective categories index, CSCX and all shares price index, CASPI declined by 51.58 points and 83.54 points to stand at 8423.37 points and 14029.50 points respectively.
At CSE, a total of 11,170,116 share and mutual funds of 275 companies were traded, of which 79 issues advanced while 156 declined and 40 issues remained unchanged.