Babul Barman
The bearish spell continued in the stock market for the fourth week that ended Thursday as investors were in selling binge amid the deepening political turmoil in the country.
"The prolonged political strife kept the investors worried and they went for panic-sell off on the last two trading sessions of the week which bedevilled the market," said an analyst.
The week featured five trading sessions as usual. Of those, three sessions saw sharp decline while two sessions closed flat in green amid no improvement in the political front.
Week-on-week, DSEX, the prime index of the Dhaka Stock Exchange (DSE) dipped below the 'psychological' threshold of 4,600-mark and ended at 4,556.94 points, shedding 107.97 points or 2.31 per cent.
The two other indices also ended in the red. The DS30 index, comprising blue chips plunged 16.53 points or 0.95 per cent to close at 1,714.41 points. The DSE Shariah Index shed 7.73 points or 0.69 per cent to close at 1,104.79 points.
The port city bourse Chittagong Stock Exchange (CSE) also ended lower for the four straight weeks with its Selective Categories Index - CSCX - plunged 231.19 points or 2.66 per cent to close the week at 8,435.69 points.
The activities edged up slightly last week and the total turnover amounted to Tk 14.22 billion against Tk 13.43 billion in the week before due to last two sessions increased activities.
The daily turnover for the week averaged Tk 2.84 billion, registering an increase of 5.84 per cent over the previous week's average of Tk 2.68 billion.
The investors' attention was mostly focused on engineering and power - the sectors that accounted for 16.1 and 14.1 per cent respectively of the week's total turnover.
"The main bourse of the country, DSE, experienced panic-sell last week as prolonged turmoil in political front made the investors hopeless about any near term stability in the country," said LankaBangla Securities, in its weekly stock market analysis.
Banking sector took the most hit, losing 7.6 per cent market-cap as some of the banks resumed trade after record date escalating the fall, said the stock broker.
IDLC Investments said: "Investors witnessed one of the worst weeks of the year. DSEX lost 108 points over the week, hitting six and half months low of 4,556.94".
"Political turmoil remained the main nemesis of the equity market. As impact of the almost a quarter-long blockade on the economy started to surface in statistics and media reporting, investors got reacted frantically selling off shares in the economy," said the merchant bank.
"The stock market ended in the negative tune in another week amidst shaky confidence from the investors," said International Leasing Securities.
The broad based index of the premier bourse hit more than 6-month low while turnover improved slightly amid short-term profit booking slae from the investors, said the International Leasing.
"Market continued its bearish trend for the fourth consecutive week due to prolonged political turmoil," said BRAC EPL, a leading stock broker.
Among the large-cap sectors, cement posted the highest gain of 4.42 per cent during the week. Food and allied and pharmaceuticals moved up by 2.84 per cent and 1.18 per cent respectively.
All the other major sectors closed lower. Banks witnessed the highest loss of 7.6 per cent - due cash dividend adjustment of five constituents of the sector. NBFIs, telecommunication and power closed lower by 3.13 per cent, 1.15 per cent and 3.27 per cent respectively.
The losers took a strong lead over the gainers as out of 318 issues traded, 223 declined, 70 advanced and 25 remained unchanged on the DSE trading floor.
Four listed firms - Lafarge Surma Cement, United Finance, Reliance Insurance and First Security Islami Bank declared dividend last week.
The market capitalisation of the DSE went down by 1.11 per cent as it was Tk 3,173.52 billion on the opening day of the week and it stood at Tk 3,138.15 billion on closing day of the week.
Newly listed Shasha Denims dominated the week's top turnover chart with shares worth Tk 776.54 million changing hands followed by Shahjibazar Power, IFAD Autos, Lafarge Surma Cement and GP.
Anwar Galvanizing was the week's top gainer, posting a rise of 23.60 per cent following the news of its planned to set up subsidiary while IDLC Finance was the week's worst loser, plunging by 28.21 per cent following its price adjustment after record date last week.
babulfexpress@gmail.com
The bearish spell continued in the stock market for the fourth week that ended Thursday as investors were in selling binge amid the deepening political turmoil in the country.
"The prolonged political strife kept the investors worried and they went for panic-sell off on the last two trading sessions of the week which bedevilled the market," said an analyst.
The week featured five trading sessions as usual. Of those, three sessions saw sharp decline while two sessions closed flat in green amid no improvement in the political front.
Week-on-week, DSEX, the prime index of the Dhaka Stock Exchange (DSE) dipped below the 'psychological' threshold of 4,600-mark and ended at 4,556.94 points, shedding 107.97 points or 2.31 per cent.
The two other indices also ended in the red. The DS30 index, comprising blue chips plunged 16.53 points or 0.95 per cent to close at 1,714.41 points. The DSE Shariah Index shed 7.73 points or 0.69 per cent to close at 1,104.79 points.
The port city bourse Chittagong Stock Exchange (CSE) also ended lower for the four straight weeks with its Selective Categories Index - CSCX - plunged 231.19 points or 2.66 per cent to close the week at 8,435.69 points.
The activities edged up slightly last week and the total turnover amounted to Tk 14.22 billion against Tk 13.43 billion in the week before due to last two sessions increased activities.
The daily turnover for the week averaged Tk 2.84 billion, registering an increase of 5.84 per cent over the previous week's average of Tk 2.68 billion.
The investors' attention was mostly focused on engineering and power - the sectors that accounted for 16.1 and 14.1 per cent respectively of the week's total turnover.
"The main bourse of the country, DSE, experienced panic-sell last week as prolonged turmoil in political front made the investors hopeless about any near term stability in the country," said LankaBangla Securities, in its weekly stock market analysis.
Banking sector took the most hit, losing 7.6 per cent market-cap as some of the banks resumed trade after record date escalating the fall, said the stock broker.
IDLC Investments said: "Investors witnessed one of the worst weeks of the year. DSEX lost 108 points over the week, hitting six and half months low of 4,556.94".
"Political turmoil remained the main nemesis of the equity market. As impact of the almost a quarter-long blockade on the economy started to surface in statistics and media reporting, investors got reacted frantically selling off shares in the economy," said the merchant bank.
"The stock market ended in the negative tune in another week amidst shaky confidence from the investors," said International Leasing Securities.
The broad based index of the premier bourse hit more than 6-month low while turnover improved slightly amid short-term profit booking slae from the investors, said the International Leasing.
"Market continued its bearish trend for the fourth consecutive week due to prolonged political turmoil," said BRAC EPL, a leading stock broker.
Among the large-cap sectors, cement posted the highest gain of 4.42 per cent during the week. Food and allied and pharmaceuticals moved up by 2.84 per cent and 1.18 per cent respectively.
All the other major sectors closed lower. Banks witnessed the highest loss of 7.6 per cent - due cash dividend adjustment of five constituents of the sector. NBFIs, telecommunication and power closed lower by 3.13 per cent, 1.15 per cent and 3.27 per cent respectively.
The losers took a strong lead over the gainers as out of 318 issues traded, 223 declined, 70 advanced and 25 remained unchanged on the DSE trading floor.
Four listed firms - Lafarge Surma Cement, United Finance, Reliance Insurance and First Security Islami Bank declared dividend last week.
The market capitalisation of the DSE went down by 1.11 per cent as it was Tk 3,173.52 billion on the opening day of the week and it stood at Tk 3,138.15 billion on closing day of the week.
Newly listed Shasha Denims dominated the week's top turnover chart with shares worth Tk 776.54 million changing hands followed by Shahjibazar Power, IFAD Autos, Lafarge Surma Cement and GP.
Anwar Galvanizing was the week's top gainer, posting a rise of 23.60 per cent following the news of its planned to set up subsidiary while IDLC Finance was the week's worst loser, plunging by 28.21 per cent following its price adjustment after record date last week.
babulfexpress@gmail.com
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