Travel and leisure sector market cap shrinks 5% in a week
Travel and leisure led the losing sectors with a 5% decline in total market capitalization last week as Unique Hotel and Resorts shares fell by 6.34% to Tk63.5, Sea Pearl Beach Resort shares dropped 4.85% to Tk278.8 while Peninsula Chittagong shares were stuck at the floor price of Tk27.4.
No sector except for the tannery and engineering could escape the overall bearish situation in the Dhaka Stock Exchange during the period. The Tannery sector, mainly riding on the Apex Footwear rally, saw the sectoral market cap increase by 1.2% in a week.
Eventually, most of the winners of the previous few weeks faced bigger corrections last week.
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Service and real estate sector stocks on average lost 4.3% of their market value in a week as Eastern Housing shares declined by 8.4%, and Summit Alliance Port fell by 6.02%.
On the other hand, Saif Powertec shares were stuck on the floor and Samorita Hospital shares were inching down.
In the last week, general insurance shares lost 3.7% of their market value on average, followed by ceramic and IT which declined by 2.1%.
The engineering sector market cap increased by 0.1%, while the telecommunication sector ended flat because of the floor price.
Market capitalization is the total market value of all the shares of a listed company.
