Dhaka stocks see lacklustre week again
The benchmark DSEX index declined by 37 points to close at 5,184. The blue-chip DS30 index also dipped by 11 points to 1,927, and the shariah-compliant DSES index inched down by 1 point to 1,167
The Dhaka stock market witnessed another subdued week, with cautious investors selling off shares amid ongoing political and economic uncertainty.
The benchmark DSEX index declined by 37 points to close at 5,184. The blue-chip DS30 index also dipped by 11 points to 1,927, and the shariah-compliant DSES index inched down by 1 point to 1,167. However, the DSE SME Index (DSMEX) bucked the trend, rising by 15 points to 1,091.
The average daily turnover decreased by 21.32% to Tk294 crore during the week, which had four trading days. The total turnover for the week amounted to Tk1,174 crore.
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However, market capitalisation increased by 0.14%, to Tk660,160 crore from Tk659,205 crore. Of the total scrips traded, 101 advanced, 250 declined, 45 remained unchanged, and 17 were not traded.
Among individual stocks, Dragon Sweater and Spinning led the weekly gainers with a 38.55% increase to Tk11.50, followed by Miracle Industries 28.41% to Tk22.60, The Dacca Dyeing & Manufacturing 16.96%, Desh Garments 16.38%, and ML Dyeing Limited 13.58%.
On the other hand, Emerald Oil Industries topped the losers' list, declining by 17.83% to Tk25.80, followed by New Line Clothings at 15.46% and Bangladesh Industrial Finance Co Ltd at 14.29%.
In its weekly market commentary, EBL Securities noted that the premier bourse of the country observed another lacklustre week with the benchmark index failing to stay afloat in positive territory amid wavering confidence across the trading floor. The indices remained under stress for the majority of the sessions this week with widespread sell-offs from cautious investors due to subdued confidence, it said.
Despite some last-hour buying activity in sector-specific scrips in the final session, the benchmark index ended the week in negative territory, following a brief and short-lived recovery in the previous week, according to the commentary.
Investors showed the most activity in the pharmaceuticals sector (20.4%), followed by the banking sector (10.3%) and the textile sector (10.2%). Most sectors experienced declines, with the financial institutions sector recording the largest loss at 3.6%, while the food sector recorded the highest gain at 1.5%.
