Dhaka shares were experiencing a continued downward kind for the past couple of weeks, largely on account of regulatory reforms within the capital market.
All the arrangement by this era of volatility, cautious investors are adopting a “wait-and-survey” come, fastidiously monitoring the efficiency of potentially profitable shares forward of making any investment decisions.
Alongside with the contemporary market stipulations, the upcoming quarterly monetary reports (July-September) are of key importance to investors. All the arrangement by this time, frequent pupil protests towards discrimination took plight, including to the total financial uncertainty, mentioned market insiders.
Additionally, correct by this era of market reform, investors were cautious in selecting shares, favouring blue-chip shares over lower-quality or “junk” shares.
On the discontinuance of the week, the high index, DSEX, reduced by 41 points or 0.74% to 5,422 points. The Blue-chip index, DS30, dropped by 0.29% to 1,985 points, while the Shariah-compliant shares index, DSES, changed into down by 1.26% to 1,206 points. On the identical time, DSMEX (DSE SME Index) dropped by 4.96% to 1,115 points.
The weekly life like turnover dropped by 13.97% to Tk367 crore in comparison with the old week. The total turnover stood at Tk1,467 crore, down from Tk2,131 crore the old week.
The market capitalisation elevated by 0.34% to Tk6,74,416 crore from Tk6,72,115 crore in comparison with old week. Of the total scrips traded, 211 developed, 146 declined, 38 remained unchanged, and 17 were not traded.
The share ticket of Agni Systems rose at 22.99% to Tk41.20 taking pictures the DSE weekly high gainer list, followed by RD Meals at 16.74% to Tk27.20, Fu-wang Meals at 14.75%, Fu-wang ceramic 11.Forty eight%, and S Alam Icy Rolled Steels 10.62%.
Meghna Pet Industries changed into down by 15.21% to Tk22.30 on the DSE which captured the weekly high loser list, followed by Bangladesh Submarine Cables by 10.64%, and Runner Vehicles by 10.34%.
EBL Securities in its weekly market commentary mentioned the benchmark index of the capital bourse extended its bearish headwinds for 3 consecutive weeks as investors’ detrimental sentiment referring to the market momentum continued to pervade across the shopping and selling ground.
Merchants remained watchful amid the ongoing regulatory debates, while likely extra protection rate hikes and uncertainty surrounding earnings declarations for June-ending companies triggered the bearish kind to persist, in step with the commentary.
Alternatively, good deal hunters emerged within the final shopping and selling session of the week to avail non eternal scheme opportunities following fundamental corrections, offering a cushion to the market’s free drop, mentioned the commentary.
Merchants were mostly active within the Bank sector (27.1%), followed by the Pharma sector (16.5%) and Meals sector (8.3%).
Sectors resulted in blended with the IT sector (6.6%) being the very perfect gainer and the Engineering sector (-2.9%) being the biggest loser.
