Stocks edged higher on the last week of just concluded year as investors went on last session's buying spree amid positive expectations for the New Year.
Analysts said despite sluggish turnover activities, the last session's buying enthusiasm on large-cap stocks helped the market to end positive terrain.
The week featured five trading sessions as usual. Of them, first two sessions edged lower while last three witnessed marginal gains.
Week-on-week, DSEX, the prime index of the Dhaka Stock Exchange (DSE), edged up by 21.32 points or 0.46 per cent to settle the year at 4,629.64.
The two other indices also edged higher. The DS30 index, comprising blue chips, advanced 3.15 points or 0.18 per cent to finish at 1,750.59. The DSE Shariah Index witnessed a fractional gain of 0.64 point or 0.06 per cent to close at 1,107.12.
The port city bourse Chittagong Stock Exchange (CSE) also saw marginal gain with its Selective Categories Index - CSCX - advancing 22.06 points or 0.25 per cent to end at 8,572.12.
However, year-on-year, the prime index of the DSE plunged 235 points or 4.84 per cent in 2015. While the CSCX plummeted 486.23 points or 5.37 per cent in the just concluded year compared to the previous year.
"The week started with a negative mode which didn't turn positive before the third sessions. Despite this improvement, investors prefer the wait only making end the hour of portfolio reallocation while they were looking ahead of 2016," said IDLC Investments, a merchant bank, in its weekly market analysis.
However, the last session showed some enthusiasm of the year, which added nearly 25 points alone, said the merchant bank.
Investors’ lackluster participation was reflected in the slowing turnover. "The week observed local government election, which might have played a role in slowing turnover," said the merchant bank.
"The market ended with 0.46 per cent growth last week with lower volatility, which can be attributed a good sign for the investors, as the index growth has beaten the risk level," said Royal Capital, a stockbroker, in its weekly analysis.
The market risk reduced by 53.51 per cent last week compared to the previous week. 11.35 per cent drop in turnover with 21.32 points spike in DSEX better indicates investors were in wait-and-see mode, said the stockbroker.
The stockbroker noted that some of the investors are in 'wait-and-see' mood with some future expectations.
LankaBangla Securities, a stockbroker, said, the market-cap leaders have mixed performance during the week.
"Though ICB and Titas Gas declined by 3.7 per cent and 3.5 per cent respectively, BATBC and Olympic Industries increased by 5.1 per cent and 3.6 per cent," said the stockbroker.
Trading activities remained sluggish and total turnover on the premier bourse came down to Tk 19.38 billion, which was Tk 21.86 billion in the week before.
The daily turnover averaged Tk 3.87 billion, which was 11.35 per cent lower than the previous week's average of Tk 4.37 billion.
Pharmaceuticals took the highlight as it grabbed 22 per cent of the week's total turnover followed engineering 20 per cent and fuel and power 11 per cent.
International Leasing Securities, said, "Portfolio rebalancing by institutional investors just ahead of year-end kept the overall market activity shaky".
Besides, investors also remained vigilant to watch over the impact of municipal elections of the country, which held Wednesday, in the national political front, it said.
The losers took a modest lead over the gainers as out of 326 issues traded, 153 closed lower, 137 higher and 36 remained unchanged on the DSE trading floor last week.
The market capitalisation of the DSE edged up by 028 per cent as it was Tk 3,151.05 billion on the opening day of the week and it stood at Tk 3,159.75 billion on closing day of the week.
Beximco Pharma dominated the week's turnover chart for the three consecutive weeks on the DSE with shares worth Tk 680 million changing hands during the week followed by Quasem Drycells Tk 617 million, Emerald Oil Tk 545 million, ACI Tk 543 million and Beximco worth Tk 531 million changed hands.
Monno Ceramics was the week's best performer, posting a rise of 16.01 per cent while Keya Cosmetics was the week's worst loser, plunging by 17.81 per cent.
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Last week of 2015 sees positive trend
Babul Barman | Published: January 02, 2016 00:00:00 | Updated: February 01, 2018 00:00:00
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