Stocks finish week in red

Stocks closed the last day of the week in the red amid low participation of investors.

DSEX, the benchmark index of the premier bourse, declined 19.79 points or 0.45 percent, finishing the day at 4,298.65 points.The index plunged for the second day with mixed performance among the large caps, said LankaBangla Securities.

“Most of the sectors generated negative return,” the stockbroker said in its regular analysis.

Profit booking reversed the upward trend, though the week opened on a positive note following the previous week’s upward movement.

“The week saw a lot of intraday volatility in the market, albeit there was not any large movement in the benchmark index,” LankaBangla added.

Turnover, another important indicator of the market, fell 3.3 percent to Tk 311.29 crore, with 7.3 crore shares and mutual fund units changing hands on the DSE.

Of the traded issues, 106 advanced, 157 declined and 46 securities closed unchanged on the premier bourse.

Linde Bangladesh dominated the turnover chart with 1.46 lakh shares worth Tk 21.58 crore changing hands, followed by United Power Generation and Distribution Company, BSRM, MJL Bangladesh and BSRM Steel.

Among the major sectors, banks declined 1.38 percent in market capitalisation, followed by engineering that fell 0.96 percent, non-bank financial institutions 0.84 percent, fuel and power 0.41 percent and cement 0.32 percent.

Conversely, tannery and general insurance sectors increased 2.16 percent and 0.28 percent respectively in market capitalisation. Tosrifa Industries was the day’s best performer with 9.45 percent in gains, while Dhaka Bank was the worst loser, shedding by 13.12 percent.

Chittagong stocks closed low with the bourse’s benchmark index, CSCX, declining 27.64 points or 0.34 percent to finish the last day of the week at 8,043.63 points.

Losers beat gainers as 115 declined, 81 advanced and 43 finished unchanged on the Chittagong Stock Exchange.