Stocks edged down amid volatility in the past week as quick profit booking broke two consecutive weeks’ marginal rise.
During the week that ended Thursday, the benchmark of Dhaka Stock Exchange, DSEX, was down 20 points or 0.5% to settle at 4,567, after gaining 16 points in the previous two weeks.
The blue-chip comprising index DS30 declined 13 points or 0.8% to 1,753. The DSE Shariah Index, DSES, lost 10 points or almost 1% to 1,115.
The Chittagong Stock Exchange Selective Category Index, CSCX, closed at 8,566, moving down 43 points or 0.6%.
The DSE daily average turnover was Tk496 crore, up more than 10% over the previous week. Almost half of the trade value came from engineering, textiles, fuel and power sectors which accounted for 21%, 15% and 11% respectively of the week’s total turnover.
Among the major gaining sectors, non-banking financial institutions sector was the week’s largest gainer rising slightly over 1%, led by Lanka Bangla Finance that showed its muscle during the week after impressive dividend declarations for its shareholders.
The company was the week’s best performer, posting a rise of over 34% and the turnover leader. The company declared 15% cash dividend and 15% stock dividend for the last year.
Textile and bank ended flat. The profit booking took place in sectors like food and allied and pharmaceuticals.
“Prolonging the monotonous tone of the recent past, the market ended the week with a marginal fall,” said IDLC Investments.
It said news-based trading behaviour characterised the market, last week.
Resultantly, Prime Finance faced 19.6% erosion after its no dividend declaration, where United Commercial Bank gained 4.4% after its promising annual declaration.
“The sellers, however, exerted dominance throughout the week, opting for profit booking from all cap classes,” said the IDLC.
All the cap classes ended in negative zone with mid-cap and mini-cap stocks taking the highest beat, it said.