Written by The Banking Post
The Dhaka Stock Exchange (DSE) ended its eight-week rally last week, weighed down by losses in the banking, general insurance, and financial sectors.
The DSEX, the benchmark index, declined 35.35 points or 0.65 percent to close at 5,408.07, according to DSE data. The blue-chip index, DS30, fell 0.79 percent to 2,097.70, while the Shariah-compliant index, DSES, edged down 0.02 percent to 1,170.43.
A weekly market review by Shanta Securities said that gains in fuel and power, pharmaceuticals and chemicals, and life insurance were offset by losses in banking and other key sectors.
Turnover for the week stood at Tk 3,645.50 crore, down from Tk 4,194.31 crore in the previous week. The market had four trading sessions instead of five, as it was closed on August 5 for “July Mass Uprising Day”. Despite the shorter week, the daily average turnover rose 8.64 percent to Tk 911.37 crore from Tk 838.86 crore.
Bangladesh Shipping Corporation led the turnover chart, followed by City Bank, Jamuna Bank, and Uttara Bank. Banking stocks accounted for the largest share of daily turnover at 23.81 percent, trailed by pharmaceuticals (13.21 percent) and textiles (10.27 percent).
Sector-wise, life insurance registered the highest gains, advancing 4.03 percent, while paper and printing, services and real estate, and jute also posted notable rises.
Market breadth remained negative, with 138 gainers against 227 losers, and 30 issues unchanged. Pragati Life Insurance emerged as the top gainer of the week, jumping 19.11 percent, while SEML Lecture Equity Management Fund was the worst performer, dropping 10.23 percent.
