FE Report
The large-cap sectors showed mixed performances last week on the Dhaka bourse that ended Thursday. Banking, cement and food & allied sectors saw major correction.
Of the 19 sectors listed with the prime bourse, except corporate bonds, debenture and treasury bonds, the market-cap of 12 sectors ended higher while seven sectors faced correction, according to weekly analysis of the Dhaka Stock Exchange (DSE) and LankaBangla Securities.
Among the major sectors, the heavyweight banking sector, continued to decline as the sector lost 2.29 per cent. Prices of 24 banks ended in the red, out of 30 listed banks.
Market insiders said the ongoing liquidity crisis in the country's financial sector prompted the investors to sell shares from banking and financial sector stocks.
Of the banks, Eastern Bank faced the highest correction of 5.60 to close at Tk 40.20 Thursday, the last session of the week.
Among other banks, Mercantile Bank lost 5.30 per cent, followed by Pubali Bank with 4.70 per cent, City Bank 4.10 per cent, Islami Bank 3.80 per cent, Mutual Trust Bank 3.60 per cent, Dutch-Bangla Bank 3.50 per cent, Uttara Bank 3.40 per cent, National Bank 3.20 per cent and Prime Bank 2.70 per cent.
The cement sector also lost 1.86 per cent as the sector heavyweight LafargeHolcim Bangladesh dipped 4.30 per cent to close at Tk 57.60. The Meghna Cement and Aramit Cement also lost 1.30 per cent and 0.30 per cent respectively.
Food & allied sector also plunged 1.42 per cent, despite 10 issues of the sector closed higher out of 18, as the sector heavyweight British American Tobacco Bangladesh Company (BATBC) saw 2.80 per cent correction to close at Tk 3,499.90 on Thursday after its dividend declaration.
The board of directors of BATBC has recommended 600 per cent cash dividend for the year ended on December 31, 2017 last week.
Meghna Pet faced 6.90 per cent correction, followed by Shympur Sugar Mills with 5.80 per cent, Bangas 5.0 per cent, Meghna Condensed Milk and Zeal Bangla Sugar Mills also lost 3.70 per cent respectively.
Issues under miscellaneous, non-bank financial institutions, pharmaceuticals and textile sectors also lost 1.34 per cent, 0.51 per cent, 0.46 per cent and 0.14 per cent respectively.
On the other hand, 12 sectors ended higher. Grameenphone and Bangladesh Submarine Cable Company Limited (BSCCL) gained 1.21 per cent.
The largest market-cap listed company, GP's share price surged 1.0 per cent to close at Tk 489.20 on Thursday.
The share price of state-run BSCCL, another issue of the telecom sector, ended at Tk 96.50, losing 1.0 per cent over the previous week.
Among other gaining sectors - services & real estate gained 4.30 per cent, followed by mutual fund 2.19 per cent, IT 1.76 per cent, jute 1.75 per cent, travel & leisure 1.02 per cent, tannery 0.91 per cent, engineering 0.73 per cent, insurance 0.45 per cent and ceramic 0.24 per cent while fuel & power and paper & printing closed flat.
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