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Stocks maintain falling streak

Published : 20 Apr 2019 09:02 PM | Updated : 11 Oct 2021 06:40 PM

The country’s stock market have maintained its falling streak for the 12th straight week in the face of investors’ wariness to avoid further loss and liquidity crisis.
Market analysts said most of the investors showed their selling-spree on sector-wise securities which pushed the market down. They said the share price of most of the securities declined due to dearth of quality stocks, lack of investors' confidence and liquidity crisis.

Besides, investors remained inactive and the majority refrained from injecting fresh funds into the market, leading to fall in share prices. Eminent economist and market analyst Prof Abu Ahmed told Bangladesh Post the institutional and foreign investors were reluctant to inject fresh funds in the market amid fund crisis. He said, “The stock market have witnessed rapid fall as many investors are inactive and have taken a wait-and-see strategy to minimise their losses from present bearish market.” He expects the government will take some steps in favour of the capital market in the upcoming national budget to make stock market strong.

The prime index of Dhaka Stock Exchange (DSEX) decreased by 629 points or 10.6 percent in the last twelve consecutive weeks. DSEX, the prime index of the Dhaka Stock Exchange (DSE), slummed 4.98 points or 0.09 percent during the last week to settle on 5,321 points on Thursday.

Meanwhile, the blue chips index (DS30) went down by 5.4 points during the week to close at 1897 points on Thursday and Shariah index (DSES) dropped 5.61 points to finish at 1,227 points in span of a week.

The market capitalisation of the DSE dropped to Tk 3,951 billion on Thursday, which was 0.62 percent lower against Tk 3,976 billion on the first working day of the week.
Total turnover went down to Tk 12.32 billion last week from Tk 16.73 billion in the previous week. The daily turnover decreased by 7.93 percent to Tk 3.08 billion over the previous week's average of Tk 3.35 billion.

Out of 348 issues traded of DSE, 176 ended higher, 143 closed lower and 29 remained unchanged on the DSE floor. The Fortune Shoes dominated and became the top on weekly turnover chart with 21.10 million shares worth Tk 765 million changing hands.

Read More: DSE market cap increases by Tk 2,561cr

It was followed by Monno Ceramic (Tk 687 million), Bangladesh Submarine Cable Company (Tk 644 million), United Power (Tk 480 million) and Esquire Knit Composite (Tk 246 million).
The Standard Ceramic was the week’s best performer, posting a gain of 33.78 percent while the Reckitt Benckiser was the week’s worst loser, falling 29.81 percent.

Meanwhile, the port city bourse the Chittagong Stock Exchange (CSE) also saw negative trend during the last week with its selective category index (CSCX) losing nearly 31 points to close at 9,843 points. On the other hand, All Share Price Index of the CSE was lower by almost 43 points to 16,264 points on Thursday.