Stocks end bearish week amid uncertainty
Of the total scrips traded, 49 advanced, 327 declined, 21 remained unchanged, and 16 were not traded.
Stocks continued their downward trend for three consecutive sessions last week due to investor concerns over ongoing nationwide student protests and broader economic uncertainty.
Turnover at the Dhaka Stock Exchange (DSE) also dropped significantly.
At the end of last week, the prime index DSEX decreased by 1.47% to 5,334 points, the blue-chip index DS30 dropped by 1.65% to 1,901, the Shariah-compliant stocks index DSES fell by 1.52% to 1,165, and the DSE SME Index declined by 0.13% to 1,521.
The weekly average turnover dropped by 13.73% to Tk478.92 crore compared to the previous week, with the total turnover standing at Tk2,395 crore, down from Tk2,775 crore the week before.
Keep updated, follow The Business Standard's Google news channel
The market capitalisation fell by 0.67% to Tk6,533,681 crore from Tk6,577,506 crore compared to the previous week.
Of the total scrips traded, 49 advanced, 327 declined, 21 remained unchanged, and 16 were not traded.
The share price of Techno Drugs rose by 81.43% to Tk63.50, making it the DSE weekly top gainer, followed by Agni Systems with a 16.67% increase to Tk34.30, NRB Bank with an 11.29% rise to Tk13.80, Libra Infusions with a 9.62% increase to Tk888, and One Bank, Miracle Industries, Heidelberg Materials Bangladesh, United Finance, and Sunlife Insurance Company.
On the other hand, Padma Islami Life Insurance fell by 19.60% to Tk20.10, topping the DSE weekly top loser list, followed by National Tea Company with a 14.57% decrease to Tk298.40, Fareast Islami Life Insurance with a 12.90% drop to Tk29.70, Aman Feed with an 11.78% fall to Tk26.20, and Zahintex Industries, Sea Pearl Beach Resort & Spa, Al-Haj Textile Mills, and Mithun Knitting and Dyeing Ltd.
The top six most traded stocks at the DSE were Techno Drugs Ltd, Agni Systems, Orion Infusion, Alif Industries, NRB Bank, Taufika Foods, and Lovello Ice- Cream PLC.
Market insiders have noted that the presence of general investors in brokerage firms has decreased following the intensification of student protests and internet service disruptions. The overall situation has created panic among investors, leading to a lack of interest in making transactions.
EBL Securities wrote in its weekly market commentary that the benchmark index of the capital bourse extended its bearish momentum for three consecutive weeks as investors remained anxious about the potential macroeconomic impact of certain events surrounding the nationwide student protests.
However, the market showed some recovery signs in the last two sessions of the week as bargain hunters took positions in certain beaten-down scrips to avail of short-term gaining opportunities following substantial corrections.
The Chittagong Stock Exchange also settled on the red terrain. The turnover of the bourse stood at Tk397 crore.
In the last week, the volume of shares was 7.12 crore. Of the total scrips traded, 47 advanced, 230 declined, and 26 remained unchanged out of 303.
The selected indices (CSCX) and All Share Price Index (CASPI) declined by 1.85% and 1.92%, respectively.
