Stocks return to falling streak

Breaking a single-week gaining streak, the country’s major bourse – Dhaka Stock Exchange -- has returned to a falling streak as worried investors continued their selling spree on sector-wise securities to avoid further loss. Even some market-supportive measures by failed to return investors’ confidence as investors mostly took cautious stance in the holy month of Ramadan, market analysts said.

Besides, some others sold their shares from free of the market after a number of companies reported disappointing quarterly earnings dividends, they said.
The DSEX, the prime index of the Dhaka Stock Exchange (DSE) went down by 10.92 points or 0.21 percent at 5,275 after gaining 20 points in the previous week.
Earlier, the DSEX decreased by 775 points in the previous thirteen consecutive weeks.

The DS30 index, comprising blue chips, also declined 19.23 points to close at 1,851 points and the DSE Shariah Index fell by 4.67 points to settle at 1,220 points. The market capitalisation of the DSE dropped to Tk 3,885 billion on Thursday, which was 0.07 percent lower against Tk 3,888 billion on the first working day of the week.

Total turnover went up to Tk21.45 billion last week from Tk15.33 billion in the previous week. The daily turnover increased by 12 percent to Tk4.28 billion over the previous week's average of Tk 3.33 billion. Out of 351 issues traded of DSE, 152 ended higher, 179 closed lower and 20 remained unchanged on the DSE floor. The Fortune Shoes dominated and became the top on weekly turnover chart with 34.69 million shares worth Tk1.33 billion changing hands.

It was followed by Monno Ceramic, Esquire Knit Composite, Power Grid Company and Indo-Bangla Pharma. The National Feed Mill was the week’s best performer, posting a gain of 23.76 percent while the Eastern Bankwas the week’s worst loser, falling 18.06 percent. Meanwhile, the port city bourse the Chittagong Stock Exchange (CSE) saw positive trend during the last week with its selective category index (CSCX) gaining nearly 0.17 percent to close at 9,800 points. On the other hand, all Share Price Index of the CSE was higher by almost 0.16 percent to 16,186 points on Thursday.