The DSEX, the broad index, shed 1.43 points, or 0.03%, to close at 5,450.57.
Stocks on the Dhaka Stock Exchange (DSE) ended almost flat in the holiday-shortened week ahead of the Durga Puja break, as cautious investors largely stayed on the sidelines amid uncertainty over earnings and dividend declarations.
With trading sessions reduced to three from the usual five, market activity weakened, with the benchmark index edging down, most stocks losing ground and daily average turnover falling nearly 18%.
Infographic: TBS
The DSEX, the broad index, shed 1.43 points, or 0.03%, to close at 5,450.57. The blue-chip DS30 index, however, gained 7 points to settle at 2,103, supported by selective buying in large-cap stocks.
Total turnover stood at Tk1,185 crore over the three sessions, while daily average turnover fell nearly 18% to Tk395 crore, according to DSE data.
Market insiders said uncertainty over upcoming earnings reports and dividend declarations weighed on investor risk appetite. Technical glitches at several brokerage firms’ trading terminals during the initial sessions further dampened activity, briefly dragging daily turnover to a nearly 10-month low.
The market came under selling pressure early in the week as gains from previous sessions faded. The DSEX fell 29 points over the first two sessions before bargain hunting in the final session ahead of the holiday helped it rebound 27 points, recovering most of its midweek losses.
In its weekly market review, EBL Securities said investor caution over ongoing financial statement disclosures continued to constrain market momentum. Intermittent buying support failed to sustain an upward trend, leaving the market largely range-bound.
Market breadth remained negative, with 213 stocks declining, 126 advancing and 42 remaining unchanged.
Trading activity was concentrated in a handful of sectors, with textiles accounting for 23.5% of total weekly turnover. General insurance followed with 12.6%, while banking contributed 11.3%.
RSRM Steel topped the weekly gainers’ list, followed by Phoenix Finance, Purabi General Insurance, ICB AMCL Sonali Bank 1st Mutual Fund and Provati Insurance.
Sharp Industries led the losers, followed by Apex Footwear, ML Dyeing, Desh Garments and BD Lamps.
Source: The Business Standard
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