Stocks fall for 4th week
Indices of the Dhaka Stock Exchange fell for a fourth straight week, despite the last week's rise in the prices of majority securities, especially the junk shares.
Many individual investors were interested in the worst performing Z-category companies to make some profits, analysts said.
Like the previous couple of weeks, a large number of Z category shares appreciated significantly last week, which analysts consider an unusual rise.
The market witnessed a cyclical profit-taking trend throughout the week with the individuals randomly switching sides -- sometimes influenced by rumours, they said.
“Despite some good half-yearly financial disclosures, investors' confidence was still at low level,” said a merchant banker.
On the other hand, he said, the institutional investors were rigid on a wait-and-see policy.
The benchmark index of the premier bourse, DSE General Index, fell 21.57 points, or 0.81 percent to 2,649.49 points on week-on-week basis. The DSE All Share Price Index also shed 11.32 points, or 0.51 percent to 2,196.96 points on Thursday, the last trading day of the week.
The total turnover declined 4.85 percent last week to Tk 1,367.66 crore last week against Tk 1,437.30 crore the previous week. The daily average turnover also dropped by 4.85 percent to Tk 273.53 crore from Tk 287.46 crore.
A total of 11,85,39,432 shares were traded on the DSE last week against 12,35,61,710 shares the previous week, which was 4.06 percent down.
Majority of the securities however traded up on the prime bourse throughout the week. Of the 276 traded issues, 161 advanced, 111 declined and four remained unchanged.
Total market capitalisation dropped by 0.26 percent to Tk 1,01,613.55 crore from Tk 1,01,879.58 crore.
Beximco Pharma topped the turnover leaders. A total of 1,01,11,050 Beximco Pharma shares worth Tk 171.52 crore were traded, which was 12.54 percent of the total turnover.
The other turnover leaders were Shinepukur Ceramics, Beximco, Summit Power, Aftab Automobiles, Titas Gas, ACI, AIMS 1st Mutual Fund, British-American Tobacco and Grameen Mutual Fund One: Scheme Two.
Chittagong stocks also posted a fall last week. The CSE Selective Categories Index declined 1.64 percent to 5,282.19 points. The CSE All Share Price Index also fell 1.3 percent to 8,146 points.
A total of 2,18,51,007 shares worth Tk 188.10 crore changed hands on the Chittagong Stock Exchange last week against 2,21,60,925 shares worth Tk 204.67 crore the previous week.
Of the 188 securities traded on the port city bourse, 81 advanced, 97 declined and 10 remained unchanged.
Beximco Pharma topped the turnover leaders on the CSE with 14,11,947 traded shares worth Tk 24.04 crore. The other turnover leaders were Beximco, Shinepukur Ceramics, Lafarge Surma Cement, AIMS 1st Mutual Fund, Grameen Mutual Fund One: Scheme Two, AB Bank, BSRM Steels, Titas Gas and Jamuna Oil.