Staff Correspondent
The key index of the Dhaka Stock Exchange (DSE) managed to stay afloat in the final session of the week as opportunistic investors opted to capitalize on the upcoming earnings calls of certain December-closing large-cap scrips, while overall market sentiment remained subdued with corrections extending in the majority of scrips.
After the close of trading on Thursday, the Dhaka Stock Exchange's (DSE) main index, DSEX, ended at a near-zero level, increasing by just 0.38%.The Shariah-compliant DSE Index (DSES) fell by 3 points, while the blue-chip DSE-30 index gained 7 points.
Over the course of the week, the DSEX lost 54 points. Investors expressed their frustration, stating that the index had fallen on four out of the five trading days, and the small rise on the final day did little to ease concerns.
They warned that if this trend continues, there will be a further decline in market investments.
According to Central Depository Bangladesh Limited (CDBL), over the past week, 1,600 investors withdrew all their funds from their Beneficiary Owner (BO) accounts, a clear indication of waning interest in the market. Among the 395 companies traded on the DSE, most experienced a fall in share prices.While 120 companies saw price increases, 219 companies saw declines, and 56 companies remained unchanged.
Within the A-category, 63 companies saw price increases, while 125 faced decreases, with 29 remaining stable. In the B-category, 30 companies' prices rose, 47 companies saw a fall, and 10 remained unchanged.
In the Z-category, 27 companies saw an increase in price, 44 experienced a drop, and 17 remained the same. Among the mutual funds traded, 16 companies saw a decrease in price, while 14 remained unchanged, and 7 saw an increase. In the block market, 32.55 million shares of 34 companies were traded for a total of 1.95 billion Tk. EnergyPac Power Generation PLC led the market in price increases, with its shares rising by 9.6% in a single day. On the other hand, Prime Finance First Mutual Fund saw a 12% decline, ranking as the highest fall in value.
Meanwhile, volume increased by 29%, and turnover increased by 24%. Four sectors out of 19 were the gainers, and 15 were on the losing side. Of the 395 scrips traded, 120 advanced, 219 declined, and 56 remained unchanged.AGNISYSL topped the turnover chart. KPPL was the top gainer, whereas DSE:1STPRIMFMF was the top loser.
In the block market, shares of BDT 19 crore were transacted, representing a turnover of 5%. The SME index, DSMEX, decreased by 8.57 pts, and the market generated a BDT 9 crore turnover, a 25% increase from the previous session. According to the Royal Capital Financial Portal,ISLAMIBANK and SQUARPHARMA contributed the most to the gains and the losses of the DSEX index on the day, and bullish conditions prevailed in the market from the start.
EBL Securities said, investor participation was observed on both sides of the trading fence, causing the market to witness a mixed trading momentum with a flat movement of the market indices throughout the session.
Moreover, investors' buying interest was observed in certain Bank stocks, contributing to the benchmark index settling in positive territory after six consecutive negative sessions. Despite the index decline, trading activity saw an increase compared to the previous day. The total value of shares and units traded on the DSE reached 3.89 billion Tk, up from 3.14 billion Tk the previous day.
The Chittagong Stock Exchange (CSE) also experienced a significant drop in its index, which fell by 38 points. Among the 211 companies traded, 121 saw their prices fall, while 60 saw price increases, and 30 remained unchanged.
Similar to the DSE, trading activity on the CSE also rose, with a total of 12 million Tk worth of shares and units being traded, compared to just 4 million Tk the day before.
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On the CSE, the First Bangladesh Fixed Income Fund saw a 10% price increase, while Prime Finance First Mutual Fund experienced the highest price drop of 11.49%, mirroring the trend seen in Dhaka.
As the week concludes, investor sentiment remains low, with many expressing concerns over the continued market downturn.