Stocks end week in green
Most investors remained on the sidelines due to the increasing number of coronavirus cases in Bangladesh
The Dhaka and Chittagong stock exchanges ended last week in the green territory, as investors showed a buying appetite for banking stocks before entering a 10-day general holiday.
DSEX, the benchmark index of the capital city bourse, gained 33 points, or 0.8 percent, during the week to close at 4,008.
CASPI, the broad index of the Chittagong Stock Exchange, gained 194 points, or 1.7 percent, over the week to close at 11,328.
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According to the Weekly Market Review of UCB Capital Management Ltd, the sell pressure was put on hold owing to fixation of the limit on the floor prices of each security.
Moreover, market participants displayed optimism regarding the year end declaration of the banking sector, for which the sector advanced 3.6 percent during the week, added the review.
Meanwhile, both the bourses will remain closed from March 26 to April 4 in line with the government declared general holiday to limit the transmission of Covid-19.
Most investors remained on the sidelines due to the increasing number of coronavirus cases in Bangladesh, the review further added.
The market witnessed two negative sessions and two positive sessions during the week.
Trading remained low during the week, and the average turnover stood at Tk222 crore – down 29 percent from Tk314.6 crore the previous week.
In the weekly average turnover distribution, the pharmaceuticals sector contributed the highest, at 15.5 percent, to turnover. This was followed by the banking sector, which added 11 percent, and fuel and power, which added 5.8 percent.
Most of the sectors posted weekly losses with paper and printing exhibiting the highest price correction of 5.2 percent. The banking sector exhibited the highest price appreciation of 3.6 percent during the week.
Among the other large-cap sectors, telecom gained 1.4 percent, and financial institutions and pharmaceuticals each gained 0.5 percent on the weekly sector return board.
Monno Ceramic Industries Ltd was the most traded stock of the week with a closing price of Tk135.1 per share. Its weekly turnover was Tk42.9 crore, according to the DSE website.
Bangladesh Industrial Fin Co Ltd topped the weekly gainers' table by gaining 30 percent, closing at Tk2.6 per share. Bangladesh Steel Re-rolling Mills Ltd, on the other hand, was the week's worst loser as it dropped 9.6 percent and closed at Tk54 per share.
