Written by The Banking Post
The Dhaka stock market ended the week almost unchanged as investors stayed cautious, waiting for clearer signals on the US-Iran ceasefire talks and the possible impact on global oil prices.
Market sentiment remained subdued throughout the week, with traders divided between bargain hunting and profit booking. While some investors picked up undervalued shares, others continued to sell, especially large-cap stocks, limiting any meaningful rise in the benchmark index.
A stockbroker said the market is now in a consolidation phase, with investors lacking clear direction amid mixed economic signals and geopolitical tension. He added that the market’s next move will likely depend on developments in the Middle East and whether the ceasefire talks show real progress.
The week started on a positive note, supported by buying in December-closing stocks and hopes of better corporate earnings. But the optimism faded quickly as negotiations failed to show clear progress, bringing back selling pressure.
Investors also remained focused on upcoming January-March earnings and year-end results from December-closing companies. Analysts said stronger earnings, especially from banks and pharmaceuticals, could attract fresh buying, while renewed pressure from inflation and oil prices may keep the market under strain.
The DSEX, the benchmark index of the Dhaka Stock Exchange, slipped by nearly 1 point, or 0.02 per cent, to close the week at 5,257. The blue-chip DS30 index lost 12 points to 1,990, while the Shariah-based DSES index gained 3 points to finish at 1,066.
Turnover improved in value terms. Total DSE turnover reached Tk 32.73 billion, slightly below the previous week’s Tk 33.50 billion, though the market had one fewer trading session. Average daily turnover, however, rose 22 per cent to Tk 8.18 billion.
Engineering led turnover, followed by pharmaceuticals and general insurance. Market breadth stayed positive, with 213 issues advancing, 142 declining and 35 unchanged out of 390 traded securities.
Among the week’s top gainers in index impact were Beacon Pharma, Pioneer Insurance, Mir Akther Hossain, Dominage Steels and Paramount Textile. The biggest drags came from Islami Bank, Pubali Bank, LafargeHolcim, BRAC Bank and Square Pharma.
Khan Brothers PP Woven Bag Industries topped the turnover chart, followed by Acme Pesticides, City Bank, Lavello Ice-Cream and Dominage Steel.
The Chittagong Stock Exchange also closed broadly flat. Its All Shares Price Index fell 12 points to 14,761, while the Selective Categories Index edged up 1 point to 9,040. Turnover on the port city bourse stood at Tk 1.50 billion, with 36.1 million shares and mutual fund units changing hands.
