DSEX loses 39 points amid low participation, selling pressure
“The week opened on a dismal note, weighed down by broad-based selling in the first session as investors were rattled over emerging adversities.”
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), lost 39 points last week (11-15 January) amid declining investor participation and selling pressure, with share prices of the majority of stocks falling and turnover shrinking.
Of the five trading sessions during the week, the index edged up in three sessions and fell in two, shedding 39 points or 0.80%, DSE data showed.
However, DSEX witnessed a jump of 88 points in the previous week (4–8 January) as investors focused on buying sector-specific stocks, largely blue-chip shares.
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Last week, besides the declining indices – DS30, the blue-chip index by 2.22 points and DSES, the shariah index by 15 points – turnover fell to Tk1,900 crore week as overall market participation remained muted as most investors largely stayed on the sidelines with the daily average at Tk380 crore – down 20% from the previous.
Meanwhile, of the traded issues, prices of 93 stocks advanced, 268 declined, and 25 remained unchanged.
EBL Securities in its weekly market commentary said, "The capital bourse observed a weakening momentum after three consecutive weeks of recovery, as market sentiment turned cautious amid concerns over the ongoing domestic gas crisis and prevailing geopolitical tensions."
"The week opened on a dismal note, weighed down by broad-based selling in the first session as investors were rattled over emerging adversities."
"Although selective large-cap stocks saw tentative buying interest in subsequent sessions, it provided only limited support and was proven insufficient to offset the broadly subdued market trend. Meanwhile, investor participation was also shifted to the insurance sector owing to positive expectation over the recent sectoral developments, it noted.
Investors were mostly active in Pharma sector, followed by General Insurance and Bank.
Among the top turnover stocks, A-category shares – companies that pay dividends of over 10% – led the chart, while Z-category stocks dominated both the top gainers and top losers lists.
Of the top ten gainers, six were Z-category stocks, two A-category, and two B-category. Among the top ten losers, nine were Z-category stocks, with only one from the A category.
