Babul Barman
Stocks witnessed downward trend last week that ended Thursday, after remaining flat in the previous week, as investors continued their cautious trading behaviour.
"The week saw a mayhem in the global indices due to slowdown of China's economy, uncertainty in Greece Debt crisis, strong dollar etc," said IDLC Investments, a merchant bank, in its weekly analysis.
The Bangladesh stock market, however, remained safe because of its very insignificant exposure with the global market.
The week witnessed five trading sessions as usual. Of them, first three sessions witnessed downturn following global markets plunged while last two saw marginal gain.
Week-on-week, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 27.34 points or 0.56 per cent to settle the week at 4,812.82.
The two other indices also edged lower. The DS30 index, comprising blue chips, lost 10.06 points or 0.54 per cent to finish at 1,840.89. The DSE Shariah Index dropped 4.24 points or 0.3 per cent to end the week at 1,186.70.
The port city bourse Chittagong Stock Exchange (CSE) also closed marginally lower with its Selective Categories Index - CSCX - shed 56.83 points or 0.63 per cent to close the week at 8,927.44.
The total turnover remained low and amounted to Tk 21.76 billion against Tk 28.20 billion in the week before as investors remained followed cautious stance.
The daily turnover for the week averaged Tk 4.35 billion, registering a decline of 22.79 per cent over the previous week's Tk 5.64 billion.
According to Sheltech Brokerage, pharmaceuticals sector led the money flow rally with 16 per cent contribution in turnover. Fuel and power and engineering sector closely followed with 15 per cent and 14 contribution of the week's total turnover respectability.
"Turnover took a major nosedive of 22.79 per cent in comparison to the last week as investors pursued passive strategy," the IDLC Investments said.
International Leasing Securities, a stockbroker, said, "First three sessions of the week witnessed profit booking sell-offs from the investors. However, the market ended in nearly flat the two ending session as investors preferred to take positions on fundamentally sound stocks".
The stockbroker noted that though the market witnessed notable institutional participation to support the market following significant world stock price plunge, the turnover remained poor as a large group of investors endured in the sideline.
Large cap sectors showed mixed performance. Telecommunication went up by 1.57 per cent over the week. Fuel and power advanced 0.51 per cent and food and allied moved 0.32 per cent up.
NBFIs closed the week 1.05 per cent lower. Cement lost 0.77 per cent while banks and pharma stocks retraced by 0.37 per cent and 0.29 per cent respectively.
Losers outpaced gainers as out of 324 issues traded, 180 declined, 115 declined and 29 remained unchanged on the DSE floor during the week.
The market capitalisation of the DSE went down slightly by 0.10 per cent as it was Tk 3,373.20 billion on the opening day of the week and it stood at Tk 3,369.99 billion on closing day of the week.
Apex Foods recommended 20 per cent cash divided last week. The company also disbursed 20 per cent cash dividend last year.
Square Pharma was the week's top turnover leader with shares worth Tk 1.03 billion changing hands followed by Shahjibazar Power Company, Lafarge Surma Cement, Islami Bank and United Power Generation and Distribution Company.
Standard Ceramics was the week's best performer, posting a rise of 12.95 per cent while Northern Jute Manufacturing Company was the week's worst loser, plunging by 11.39 per cent.
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