Shares on the Dhaka bourse resulted in the pink for the 2d consecutive week as selling pressure persevered across most shares.
The week, which ended on 12 September, was as soon as marked by volatility, with declining investor participation amid regulatory reforms and ongoing employee unrest.
Market insiders acknowledged the dividend declaration season for the 2023-24 fiscal twelve months started in September. Nonetheless, traders remained cautious in regards to the bulletins from listed corporations because of this of harmful financial cases.
The unrest among staff at varied factories further deepened investor concerns, causing many to contend with their funds.
Several stockbrokers acknowledged traders were adopting a “wait-and-gaze” technique because of this of a conflict between the Bangladesh Securities and Alternate Commission (BSEC) and the Dhaka Stock Alternate (DSE) over the appointment of fair directors to the board.
Two of the seven fair directors appointed by the BSEC had already declined to attend, as questions arose referring to the desire route of.
Within the week, the DSEX, the benchmark index of the Dhaka Stock Alternate (DSE), ended nearly flat, declining by 2.13 points to shut at 5,726. Moderate turnover additionally dropped by 19%, reaching Tk644 crore.
Of the traded stocks, 271 seen designate declines, 107 posted gains, and 18 remained unchanged, while 16 stocks were no longer traded throughout the week, in step with the DSE’s weekly file.
The DS30 index fell by around 14 points, settling at 2,100, while the DSE Shariah index rose by 16.87 points to 1,245. By the cease of the week, the market’s designate-to-earnings (P/E) ratio stood at 10.88.
EBL Securities in its weekly market commentary acknowledged the benchmark index of the capital bourse ended flat and remained afloat in negative as traders most neatly-liked to dwell cautious amid the earnings declaration of corporations with fiscal years ending in June and ongoing reformations throughout the regulatory bodies.
“The market initiated the week on a negative point out as traders opted to orderly their exposures because of this of dwindling self belief,” EBL acknowledged.
“Nonetheless, slash charge hunters stepped in to drag up the benchmark index by taking positions on sure scrips after corrections to genuine transient gains, the place the formation of a job force to reform the banking sector, marginal decline in inflation and continued stable remittance inflows additionally worked as sure catalysts to revive the boldness,” reads in the commentary.
Per the file, Linde Bangladesh led the top turnover chart with a turnover of Tk34 crore, accounting for five.28% of complete turnover, adopted by Olympic Industries with Tk21.75 crore, and IBN Sina with Tk20 crore.
Within the gainer’s record, National Tea Company, beneath the Z class, topped with a 52% amplify to Tk486.90 per share, adopted by Khan Brother PP Woven Bags, which rose 31.60% to Tk166.60, and Northern Jute, up 28.11% to Tk156.30.
On the losing aspect, Self belief Cement topped the record with an 18.69% decline to Tk68.30 per share, adopted by Rupali Existence Insurance, which fell 15.38% to Tk101.20, and Khulna Vitality Company, down 13.92% to Tk16.70.
