Stocks end week with a fall

Dhaka stocks finished the week with a fall thanks to a selling spree among investors ahead of the Eid-ul-fitr festival, which will be celebrated the next week.

The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), dropped 21 points, or 0.32 per cent, to 6,655 at the end of the day from the previous day.

Overall, the benchmark index lost 6.7 points or 0.10 per cent from 6,662.3 at the beginning of the week, according to the DSE.

The turnover at the bourse fell 6.75 per cent to Tk 869 crore today from Tk 932 crore the previous day, reflecting increased participation of investors.

At the DSE, 90 stocks advanced, 241 declined and 49 remained unchanged.

 "The week began with positive note but the market subsequently sideways movement. The risk-averse retail investors kept their selling spree on sector-specific issues ahead of Eid festival," said International Leasing Securities Ltd in its weekly market analysis.

On the other hand, some of the institutional bargain hunters showed their buying interest on the sector-wise issues. Moreover, some of the stocks declared better earnings compared to the previous quarter during the week, it added.

The Chittagong Stock Exchange (CSE) also dropped today. The CASPI, the main index of the CSE, fell 138 points, or 0.70 per cent, to close the day at 19,474.

Of the 285 stocks traded, 62 rose, 193 fell, and 30 did not see any price movement.