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Sunday, April 24, 2016, Baishakh 11, 1423 BS, Rajab 16, 1437 Hijri


Stocks fall for second running week on selling spree
Business Correspondent
Published :Sunday, 24 April, 2016,  Time : 12:00 AM  View Count : 28
Bourses fell for the second consecutive week that concluded on Thursday as indices on both Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) continued to decline due to selling pressure from the dominant small investors, dealers said.
The investors were cautious amid mixed trend of earnings and dividend declarations by different companies and government's delay in extending banks' capital market exposure adjustment deadline scheduled to expire in July 2016.
Of the usual five trading sessions in the week, four declined, while the rest gained slightly.
DSEX, the prime index of the DSE fell by 68.30 points or 1.55 per cent to 4,340.34 while the DS30 index, comprising blue chips, fell 17.20 points or 1.02 per cent to 1,666.15 and the Shariah Index DSES lost 8.06 points or 0.76 per cent to 1,057.93 point at close of the week against the previous week.
At CSE its Selective Categories Index, CSCX, declined 116.06 points or 1.40 per cent to 8,130.54 point against the previous week.
However the total turnover for the week was Tk 19.33 billion against the turnover of Tk 17.47 billion in the previous week that had four trading sessions.
The average daily turnover was Tk 3.87 billion, down 11.50 per cent from Tk 4.37 billion, daily average of the previous week.
Fuel and power, pharma and engineering sectors grabbed most of the transactions of the week attracting 23 per cent, 22 per cent and 11 per cent respectively.
"The week passed on downward trend as selling spree was dominant among the investors," said LankaBangla Securities, a stockbroker, in its weekly analysis.
International Leasing Securities, a stockbroker, said, "Investors remained watchful ahead of earnings declaration from listed companies as well as the national budget announcement for the FY 2016-17".
The losers took a strong lead over the gainers as out of 328 issues traded, 227 closed lower, 84 higher and 17 remained unchanged on the DSE trading floor during the week.
A total of 15 listed companies -- Brac Bank, Dhaka Bank, Islami Bank, Jamuna Bank, Bay Leasing and Investments, Beximco, Beximco Pharmaceuticals, Shinepukur Ceramics, Dragon Sweater and Spinning, Republic Insurance, Pioneer Insurance, International Leasing and Financial Services, Rangpur Dairy and Food Products, Eastland Insurance, and Beximco Synthetics-- recommended dividend last week.
The market capitalisation of the DSE remained unchanged as it was Tk 3,085.18 billion on the opening day of the week and it stood at Tk 3,085.07 billion on closing day of the week.
MJL Bangladesh dominated the week's turnover chart on DSE with 10.42 million shares worth Tk 1.07 billion changing hands, followed by ACI Tk 744 million, Keya Cosmetics Tk 561 million, Jamuna Oil Tk 558 million and Doreen Power Tk 551 million.
Monno Stafflers was the week's best performer, posting a gain of 29.77 per cent, while Standard Bank was the week's worst loser, slumping by 18.18 per cent.
Bangladesh National Insurance Company, the non-life insurer's registered its trade debut on the last day of the week. Its share price soared 83 per cent to close at Tk 18.30 on Thursday, from its issue price of Tk 10 each.










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