Wednesday , 20 October 2021
Breaking News

Stocks finish flat thru’ an eventful week

businessnews24bd.comStock-396x240

Stocks finished week flat on Thursday after setting some records during an eventful week in terms of market trend and activities.
The broader DSEX and the Shariah DSES indices of Dhaka Stock Exchange (DSE) set a new record at 5575.47 and 1276.45 on the third session of the week on active buying around large-cap securities. The daily turnover in volume also hit six-year high at over 70 lakh shares on the same day.

The upward trend in the market indicators and activities, however, started simmering off on the following day and finally ended the week flat with declining transactions.

DSEX finished the week flat at 5534.06 after plummeting in the red area on Wednesday while market suffered major corrections. The blue-chip DS30 was also flat at 1983.70 at week’s close, with the DSES ending at 1275.55. Compared to last week all the indices, however, finished considerably higher.

The daily trade value came down to Taka 1408.43 crore on Thursday after crossing Taka 2000 crore on Tuesday. Accordingly, the trade volume fell to 42.24 crore shares from its 6-year high of 70 crore.

The average daily transition in value this week was nearly 26.0 percent up at Taka 1795.72 crore over last week when the average daily trade volume was higher by 34.45 percent to 59.67 crore shares.

The market on the last trading session of the week was a solid setting for buyers as 205 securities incurred losses when only 93 made some gains.

Market analysts said the market settled to finish the week through a natural correction after witnessing bullish trend for days.

During the week, banks, NBFIs, IT, ceramic, travel and leisure, fuel and power and mutual funds advanced in most of the trading sessions while paper and printing, jute and life insurance sectors continued to witness slide on sluggish demands.

The high demand securities, however, went through correction in prices in the last two sessions of the week due mainly to profit-booking sell pressure.

The correction in prices of majority of the traded shares were, however, moderate to low level as the demand side remained considerably strong on active buying by both individual and institutional investors.

Demand was very strong at the beginning of the week that made many shares dearer. The demand, however, suppressed by profit-booking sell pressure continued on Wednesday and Thursday. Resultantly, most of the securities incurred loss, bringing the price indices down at week’s close.

During the week, shares of 331 issues were traded when 203 securities gained and 117 suffered loss. Last week the number of gaining securities was 240 when 79 were lagging.

The week’s most traded securities were BEXIMCO, Baraka Power, Lanka Bangla Finance and Ifad Autos.

The top five gaining companies were Baraka Power, IBN Sina, Central
Pharmaceutical, City Bank and National Polymer. The major five gaining companies were Imam Button, National Tea, RSRM Limited and Emarald Oil.

Like DSE, Chittagong Stock Exchange (CSE) also finished week flat, with its major CASPI index closing at 10286.57. Majority of the issues traded during week performed mixed.

Print Friendly
Loading...

Comments are closed.

`