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Stocks fall straight two weeks


Published : 17 May 2019 09:02 PM | Updated : 07 Sep 2020 01:31 PM

The country’s stocks have extended a losing streak for straight two weeks at both bourses while worried investors continued their selling spree on sector-wise securities apprehending further loss. Market analysts said the share market witnessed downtrend as investors mostly took cautious stance in the holy month of Ramadan while some others sold their shares after a number of companies reported disappointing quarterly earnings.

Even some market-supportive measures failed to restore investors’ confidence as most of them took cautious stance in Ramadan, market analysts said.
The DSEX, the prime index of the Dhaka Stock Exchange (DSE) decreased by 45.05 points or 0.85 percent during the week to 5,230.79 points on Thursday.
The DS30 index, comprising blue chips, also declined 33.14 points or 1.79 percent to close at 1,818.21 points and the DSE Shariah Index fell by 22.74 points to settle at 1,197.56 points.

The market capitalisation of the DSE dropped to Tk 3,848.78 billion on Thursday, which was 0.96 percent lower against Tk 3,885.93 billion on the first working day of the week. Total turnover went down to Tk 14.61 billion last week from Tk 21.45 billion in the previous week. The daily turnover decreased by 31.86 percent to Tk 2.92 billion over the previous week's average of Tk 4.28 billion.

Out of 350 issues traded of DSE, 122 ended higher, 195 closed lower and 33 remained unchanged on the DSE floor. The Fortune Shoes dominated and became the top on weekly turnover chart with 733.41 million shares worth Tk 19.48 million changing hands. It was followed by BRAC Bank (Tk 11.81 million), Bangladesh Shipping Corporation (Tk 7.71 million),Oimex Electrode (Tk 8.5 million) and Power Grid Company (Tk 6.09 million).

The United Insurance was the week’s best performer, posting a gain of 13.93 percent while the S S Steel limited was the week’s worst loser, falling 10.18 percent. Meanwhile, the Chattogram Stock Exchange (CSE) also saw negative trend during the last week with its selective category index (CSCX) losing nearly 113 points or 1.14 percent to close at 9,687.15 points. On the other hand, all Share Price Index of the CSE was higher by almost 185 points or 1.15 percent to 16,001 points on Thursday.