Stocks ended flat last week that ended Thursday, after remaining down in the previous week, as investors followed cautious stance due to June closing and holy month of Ramadan.
The week featured five trading sessions as usual. Of those, the market closed positive in the mid-three sessions while first and last session saw correction.
Week-on-week, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up slightly by 4.72 points or 0.10 per cent to finish the week at 4,519.85.
The DSE Shariah Index advanced 2.44 points or 0.22 per cent to close at 1,101.66. However, the DS30 index, comprising blue chips, moved down by 1.68 points or 0.10 per cent to settle at 1,742.62.
The port city bourse Chittagong Stock Exchange (CSE) also inched up slightly with its Selective Categories Index - CSCX - gained 3.42 points or 0.04 per cent to end the week at 8,458.62.
The total turnover for the week came down to Tk 19.36 billion against Tk 26.74 billion the week before. The daily turnover for the week averaged Tk 3.87 billion, registering a decline of 27.6 per cent over the previous week's averaged Tk 5.35 billion.
The investors' attention was mostly focused on pharma, textile and power - the sectors that accounted for 14.8 per cent, 14.5 per cent and 14 per cent respectively of the week's total turnover.
"The market reached a blank spot last week, where impacts of budgetary bets and undervaluation were wearing thin, while year-end disclosures of June closing companies were yet to fuel expectations," said IDLC Investments, a merchant bank, in its weekly analysis.
In absence of any powerful motivations the market slowed. Remembering the ruthless correction in major indices in recent time, investors were panicked in expectation of further fall, said the merchant bank.
International Leasing Securities, a stock broker, said, "Despite the announcement of fiscal incentive in the budget declaration, activity from the participants remained poor as institutional investors might have kept themselves inactive due to June closing".
Ramadan effect might be another reason for taking out fund from the market, said the International Leasing Securities.
Among the large-cap sectors, pharmaceuticals registered a gain of 1.97 per cent. Food and allied went up by 0.11 per cent.
Fuel and power sector saw significant loss of 5.53 per cent followed by cement 3.83 per cent. Banking issues lost 2.50 per cent and NBFIs went down by 3.12 per cent. Telecommunication also retraced 0.33 per cent during the week.
The gainers took a marginal lead over the losers as out of 321 issues traded, 154 advanced, 139 declined and 28 remained unchanged on the DSE trading floor.
The market capitalisation of the DSE went down slightly by 0.09 per cent as it was Tk 3,190.66 billion on the opening day of the week and it stood at Tk 3,187.64 billion on closing day of the week.
United Airways was the week's top turnover leader with shares worth Tk 944.47 million changing hands during the week followed by GP, KPCL, Beximco and Familytex (BD).
Hakkani Pulp and Paper was the week's best performer, posting a rise of 53.37 per cent while First Bangladesh Fixed Income Fund was the week's worst loser, plunging by 14.71 per cent.
A new issue - Tosrifia Industries-- made debut last week. The new-comer of the textile sector registered 37.3 per cent rise from its issue price on the debut day.
Meanwhile, the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) decided to cut trading and office hours during holy month of Ramadan, officials said.
As per the decision, trading at the DSE and CSE will begin at 10:30am as usual and continue till 1:30pm instead of 2.30pm, cutting one hour from regular time.
The office of the bourses will remain open at 9:30am as usual and continue till 4pm instead of 5.30pm during Ramadan.
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