Stocks witness flat trend last week

The stocks have witnessed a flat trend last week as most of the investors have taken cautionary stance in face of the ongoing unstable market condition.

Market analysts said most of the investors took a ‘wait-and-see’ strategy due to their unhappiness with the existing market situation.

They said some portfolio investors rearranged their securities based on earnings and dividend declarations, taking the market in the flat zone. They said some of investors were seen busy to buy shares to hold their position on sector wise securities while others were seen showing their selling spree for booking profit, which resulted the market almost flat.

The prime index of Dhaka Stock Exchange went up by 1.01 points during the week, to settle at 4,772 points on Thursday.

Meanwhile, the comprising blue chips index (DS30) declined by 3.92 points to finish at 1,675 during the week and Shariah index (DSES) rose up to by 2.36 points to close at 1,096 in the span of one week.

The daily average turnover stood at Tk 3.09 billion, 1.17 percent lower than the previous week's average at Tk 3.12 billion.

Besides, total turnover on the DSE stood at Tk 15.45 billion against Tk 15.63 billion over in the previous week. The losers beat the gainers as out of 353 issues traded, 244 closed lower, 90 higher and 21 remained unchanged on the DSE floor.

The market capitalisation of the DSE increased by 0.57 percent, Tk 3,610.92 billion, as against Tk 3,590.33 billion on the first working day of the week.

National tubes dominated the DSE floor and was on the top of the week’s turnover chart.

Market data shows, 3,546,030 shares of the National tubes were traded on the floor of the Dhaka Stock Exchange (DSE) during the week and its market value stood almost at Tk 609.82 million.

It was followed by Grameenphone with Tk 412 million, Monno Jute Staffler Tk 385 million, United Power Tk 381 million and Standard Ceramic Tk 319 million.

United Power was the week's best performer, posting a gain of 15.07 percent while Monno Jute Staffler was the worst loser losing 34.86 percent.

The port city bourse, the Chittagong Stock Exchange (CSE) saw positive trend during the last week with its selective category index (CSCX) losing 16 points to close at 8,832 points.

All Share Price Index (CASPI) of the CSE was higher by almost 23 points on Thursday to close at 14,530 points.

At the CSE, total 302 issues were traded. Among them, 100 closed higher, 183 ended lower and 19 remained unchanged.

However, the number of shares transacted on the floor of the CSE was 67.92 million and the total turnover was at Tk 1.21 billion during the last week.