The stock market edged marginally lower last week that ended Thursday with significant improvement in turnover as the market lacked any clear direction.
The week featured all five trading sessions and the market lost three trading sessions while two sessions closed positive.
Week-on-week, the prime index of Dhaka Stock Exchange (DSE) -- DSEX -- went down marginally by 11.31 points or 0.24 per cent to close the week at 4,749.87 points.
However, the other two indices ended mildly positive. The DS30 index gained 5.89 points or 0.35 per cent to close at 1,693.91 points while the Shariah Index (DSES) advanced 7.13 points or 0.72 per cent to close the week at 1,002.41 points as investors' interest was mainly alive in DS30 and DSES.
The port city bourse -- the Chittagong Stock Exchange (CSE) edged down with its Selective Categories Index - CSCX lost 54.66 points or 0.58 per cent to close the week at 9,287.03 points.
The total market turnover for the week stood at Tk 25.35 billion on DSE which was Tk 18.65 billion in the previous week.
Consequently, the average daily turnover improved to Tk 5.07 billion, registering 36 per cent increase over the previous week's average of Tk 3.73 billion.
"Market volatility emerged by scrip-wise swings as well as expectations on corporate declarations based stock focus kept investors in a cautious mood," IDLC Investments, said in its weekly market analysis.
Triggered by lucrative price hunts and switching across sectors and scrips prompted investors to re-balance their portfolio, the merchant bank.
Meanwhile, turnover demonstrated a normalised scenario of going up and down, making market activities to be amplified, said the merchant bank.
"Though, DSEX remained over 4,750 points level at majority part of the week, short term profit booking instigated investors much at the later part. This derailed market vibe and dragging back prior week's bearish spell," the merchant bank added.
"This week market sentiment was range-bound and the index hovered around 4,750-point level,' said International Leasing Securities, in its weekly market analysis.
"The market lacked any clear direction as no single sector could dominate the bourse during the week. Rather investors' interest was focused on particular stocks which declared good dividends," said the International Leasing Securities.
"Market seems to have anchored to this 4,750 level. Throughout the week market hovered around this point and closed at 4,749 points," said Lankabangla Securities, in its weekly market analysis.
"If we look at last three weeks, market is hovering around a zone of 4,700 to 4,850 points level. This seems to be a consolidating period," said the stock broker.
In next few weeks, most of the banks will declare their corporate results and dividends for 2013.
"Their declarations will impact market sentiment. Money market is highly liquid and interest rates are coming down. One can expect market to stay vibrant backed by this high liquidity," observed the stock broker.
"The month of February could mainly be attributed as a month of correction and profit taking for investors, linked with heavy fluctuation for revival and steady growth," observed Zenith Investments.
However, investors are optimistic about the upcoming months as more new stocks are knocking at the door along with news of declaration of existing companies, opined the Zenith analysis.
The losers took a modest lead over the gainers as out of 297 issues traded during the week, 192 declined, 92 advanced and 13 issues remained unchanged on the DSE floor.
Among the major sectors, food & allied posted a staggering gain of 8.86 per cent owing to the steep price appreciation of BATBC and Olympic which gained 12.08 per cent and 8.24 per cent respectively.
Pharmaceuticals and telecommunications gained 2.96 per cent and 2.53 per cent respectively while banks and fuel & power ended 2.76 per cent and 1.54 per cent lower in the week.
Eight listed companies -- Sinobangla Industries, Trust Bank, BSRM Steels, Reliance Insurance, Glaxo SmithKline, IDLC Finance, Singer BD and BATBC made corporate declaration in this week.
The market capitalisation of the DSE went up slightly by 0.72 per cent as it was Tk 2,902.35 billion at the opening day of the week and it stood at Tk 2,923.12 billion in closing session of the week.
Olympic Industries dominated the week's top turnover chart with shares worth Tk 1.27 billion changing hands during the week followed by BSC, Square Pharma, Singer BD and BSCCL.
Al-Haj Textile was the week's top gainer, posting a rise of 41.94 per cent while Generation Next Fashion was the week's worst loser, slumping by 20.45 per cent.
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