DSEX falls below 4,500 mark during week
Most sectors exhibited negative movements during the week with financial institutions witnessing the highest price correction of 7.4 percent
Stock movement slowed last week, pausing a sharp rally, as investors opted for profit taking.
DSEX, the key index of the Dhaka Stock Exchange (DSE), dropped 44 points, or one percent, during the week.
Meanwhile, CASPI, the benchmark index of the Chittagong Stock Exchange dropped 158 points, or 1.1 percent, over the week to close at 13,586 points.
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In the same time period, three companies posted their year-end dividend announcement on top of numerous companies publishing their quarterly earnings.
Investors were cautious as the market hovered around the peak of the on-going earnings season, said brokers.
Most of the companies' earnings have failed to meet investors' expectations, said the Weekly Market Review of EBL Securities Ltd. Consequently, a portion of investors liquidated their holdings –adversely affecting the index, it added.
Grameenphone Ltd took a heavy beating as its declared dividend was below expectations, mentioned Weekly Market Review of UCB Capital Management Ltd. The stock lost five percent in value last week.
The parent company of Grameenphone Ltd, Telenor may not approve the company's final dividend until the central bank's objection to repatriate dividends to Telenor ends. The company's disclosure negatively affected investors' sentiments, added the review.
The Dhaka Stock Exchange's turnover stood at Tk445 crore, on average, for each session of the week.
Most sectors exhibited negative movements during the week with financial institutions witnessing the highest price correction of 7.4 percent on the weekly sector return board.
Among the other large-cap sectors throughout the week, telecoms shed 5.1 percent, banks slid 1.8 percent and pharmaceuticals lost 0.5 percent.
Lafarge Holcim Bangladesh Ltd was once again the most-traded stock of the week with a closing price of Tk50.3 per share. It exhibited a weekly gain of 12.3 percent, and its weekly turnover value was Tk188.6 crore, according to the DSE website.
Zeal Bangla Sugar Mills Ltd topped the weekly gainers' table by gaining 42.4 percent and closing at Tk41.3 per share. BSRM Steel, however, was the week's worst loser – it dropped 13.2 percent and closed at Tk36.1 per share.
