Over the week, four out of five trading sessions closed in the red. By the end of the week, the prime index, DSEX, fell by 35 points to 5,408.
Infographic: TBS
Following the recent market rally, the Dhaka Stock Exchange indices ended the week on a bearish note, as cautious investors booked profits, particularly in the banking stocks.
Over the week, four out of five trading sessions closed in the red. By the end of the week, the prime index, DSEX, fell by 35 points to 5,408. The blue-chip index, DS30, dropped 17 points to 2,098; the Shariah-compliant stocks index, DSES, edged down by 0.18 points to 1,170; and the DSE SME Index (DSMEX) declined by 41 points to 935.
The weekly average turnover decreased by 8.64% to Tk911 crore, compared to the previous week’s Tk998 crore. The total turnover stood at Tk3,645 crore, down from Tk4,194 crore a week earlier. However, market capitalisation increased by 0.40% to Tk7,15,079.22 crore, from Tk7,12,223.41 crore in the previous week.
Of the 413 issues traded on the DSE, 138 advanced, 227 declined, 30 remained unchanged, and 18 were not traded.
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Among individual stocks, Pragati Life Insurance led the weekly gainers with a 19.11% increase to Tk123.40, followed by Samata Leather Complex with a 14.54% increase to Tk82.70, Malek Spinning Mills with a 14.29% increase to Tk30.40.
Analysts noted that the pause was expected after a sharp rally fuelled by improved liquidity and renewed investor optimism. While banking stocks led the pullback, selective interest in blue-chip shares remains strong.
In its weekly market commentary, EBL Securities noted that the benchmark index of the capital bourse took a breather from its bullish momentum this week as investors opted to book short-term profits, particularly in the banking sector.
The market commenced the week with a bullish wave to surpass the 10-month high of 5,500 points, sparked by favorable developments in US tariff negotiations. However, the bullish momentum lost its steam as a profit-taking sell frenzy emerged.
Despite regulatory efforts to list fifteen state-owned and multinational companies alongside clarification regarding the probable timeline for the upcoming national election, investor positive sentiment has yet to be stimulated, causing the benchmark index to experience retracement following its eight-week winning streak, according to the market commentary.
Investors were most active in the banking sector, which accounted for 26.6% of the week’s turnover, followed by the pharmaceuticals sector at 12.5% and the textile sector at 9.8%. Sector-wise performance was mixed, with the life insurance sector posting the highest gain of 5.3%, while the banking sector suffered the biggest loss of 3.5%.
Source: The Business Standard
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