6:57 am - Sunday August 18, 2019

Stocks end week delivering low returns

Stock market closed Thursday with moderate gain and delivering low returns against some large-cap securities including pharmaceutical and multinational companies (MNCs).

The market opened downward on Sunday and extended a moderate losing wave to the next session as investors went for profit booking on stocks, which showed short rallies in previous week.

stock marketThe falling trend was halted at the third session on Tuesday, with increasing participation around pharmaceutical and MNCs securities. The gaining trend continued till the end of the week, backed by pharmaceutical, MNCs and some consumers’ stocks.

The prime share index, DSEX, finally closed the week positive at 4599.91, just below the next higher psychological mark. The index gained 27.33 points during the entire week, of which over 20 points came from the concluding session.

Share prices were also volatile during the week because of swift changes of portfolio by a large number of investors, who kept their eyes on the companies that would announce their financial accounts in the next few weeks.

The scrips-focused transactions drove up the blue-chip DS30 and Shariah DSES to 1795.24 and 1133.73 respectively, but the daily trade value remained at low level.

At the last session, the daily trade value was down by 3.49 percent to Taka 477.26 crore when the volume dropped by 4.67 percent to 12.40 crore shares. The indices closed positive, with most of the issues traded finishing higher.

During the week, tannery and miscellaneous sectors registered major gains by 4.72 percent and 4.14 percent respectively. Mutual fund and telecommunication were also among the major advancing sectors while the top gaining companies were Samata Leather (39.3 percent), Monno Ceramic (25.4 percent) and FBFIF (24.6 percent).

The week’s major losing sectors were bank (-1.28 percent), textile (-0.36 percent) and cement (-0.21 percent) and major losing companies were Uttara Finance (-13.7 percent), BD Autocars (-11.5 percent) and Ifad Autos (-9.9 percent).

Chittagong Stock Exchange (CSE) ended the week adding nearly 30 points to its benchmark index. The CSCX crossed 8600 points mark to close the week at 8626.87.

Majority of the traded issues closed higher at the bourse though trade value and volume fell to Taka 32.99 crore and 1.03 crore shares respectively.


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