Stocks end week flat as investors remain cautious
The market witnessed four positive sessions and one negative session during the week
Stocks ended another flat week on Thursday while turnover took a nosedive compared to the previous week.
DSEX, the key index of the Dhaka Stock Exchange (DSE), gained 8 points, or 0.2 percent, during the week to close at 3,969.
CASPI, the benchmark index of the Chittagong Stock Exchange, also advanced 8 points, or 0.1 percent, over the week to close at 11,262.
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The market witnessed four positive sessions and one negative session during the week.
Trading remained low during the week, and the average turnover stood at Tk56.9 crore – down by 16.2 percent from the previous week's Tk67.8 crore.
According to the Weekly Market Review of EBL Securities Ltd, the average turnover decreased as most investors remained cautious due to the quarterly earnings and dividend declarations of listed companies.
The market prolonged a dull period throughout the week as investors' worries grew over the worsening pandemic situation in the country with looming uncertainty about economic growth, it continued.
The floor pricing system has also been holding back investors from making any investment in stocks, added the review.
In weekly average turnover distribution, the pharmaceuticals sector contributed the highest to turnover at 46.1 percent, followed by the banking sector, which added 17 percent and the fuel and power sector, which added 10.9 percent.
The jute sector posted the highest price appreciation of 0.8 percent during the week. Mutual funds and general insurance stocks both exhibited the highest price correction of 0.1 percent.
Among the other large-cap sectors, banks gained 0.5 percent, textiles gained 0.3 percent, pharmaceuticals gained 0.2 percent, and the cement sector remained flat on the weekly sector return board.
Beximco Pharmaceuticals Ltd was the most-traded stock of the week with a closing price of Tk64.8 per share. Its weekly turnover was Tk31.4 crore, according to the DSE website.
The Dacca Dyeing & Manufacturing Company Ltd topped the weekly gainers' table by gaining 31.6 percent, closing at Tk5 per share.
Phoenix Finance 1st Mutual Fund, on the other hand, was the week's worst loser as it dropped 6.1 percent and closed at Tk7.7 per share.
