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Sunday, June 21, 2015, Ashar 7, 1422 BS, Ramadan 3, 1436 Hijr

Weekly Market Review
Stocks end flat with upward edge
Business Desk
Published : Sunday, 21 June, 2015,  Time : 12:00 AM,  View Count : 6

Stocks ended flat with upward edge last week that ended Thursday as investors traded with caution ahead of the Muslim fasting month of Ramadan and closing of the outgoing financial year, dealers said.
 Out of five usual sessions of the week three ended in gains while the rest two comprising the initial and closing ones ended in losing tracks in both the bourses of the country.
At the principal bourse the Dhaka Stock Exchange (DSE) the prime index DESX edged up by 4.72 points or 0.10 per cent to finish the week at 4,519.85, against the previous week. The Shariah Index DSES moved up  2.44 points or 0.22 per cent to close at 1,101.66 while the DS30 index, comprising blue chips, slid by 1.68 points or 0.10 per cent to settle at 1,742.62, compared to the previous week
At Chittagong Stock Exchange (CSE) its Selective Categories Index CSCX  gained 3.42 points or 0.04 per cent to end the week at 8,458.62, against the previous week.
The total turnover for the week was Tk 19.36 billion, down from Tk 26.74 billion in the previous week. The average daily turnover for the week was Tk 3.87 billion, down 27.6 per cent from the previous week's averaged Tk 5.35 billion.
Pharma, textile and power sectors attracted investors attention drawing 14.8 per cent, 14.5 per cent and 14 per cent respectively of the week's total turnover.
"The market reached a blank spot last week, where impacts of budgetary bets and undervaluation were wearing thin, while year-end disclosures of June closing companies were yet to fuel expectations," said IDLC Investments, a merchant bank, in its weekly analysis.
In absence of any powerful motivations the market slowed. Remembering the ruthless correction in major indices in recent time, investors were panicked in expectation of further fall, said the merchant bank.
International Leasing Securities, a stock broker, said, "Despite the announcement of fiscal incentive in the budget declaration, activity from the participants remained poor as institutional investors might have kept themselves inactive due to June closing".
Ramadan effect might be another reason for taking out fund from the market, said the International Leasing Securities.
Among the large-cap sectors, pharmaceuticals registered a gain of 1.97 per cent. Food and allied went up by 0.11 per cent.
Fuel and power sector saw significant loss of 5.53 per cent followed by cement 3.83 per cent. Banking issues lost 2.50 per cent and NBFIs went down by 3.12 per cent. Telecommunication also retraced 0.33 per cent during the week.
The gainers took a marginal lead over the losers as out of 321 issues traded, 154 advanced, 139 declined and 28 remained unchanged on the DSE trading floor.
The market capitalisation of the DSE went down slightly by 0.09 per cent as it was Tk 3,190.66 billion on the opening day of the week and it stood at Tk 3,187.64 billion on closing day of the week.
United Airways was the week's top turnover leader with shares worth Tk 944.47 million changing hands during the week followed by GP, KPCL, Beximco and Familytex (BD).
Hakkani Pulp and Paper was the week's best performer, posting a rise of 53.37 per cent while First Bangladesh Fixed Income Fund was the week's worst loser, plunging by 14.71 per cent.
A new issue - Tosrifia Industries-- made debut last week. The new-comer of the textile sector registered 37.3 per cent rise from its issue price on the debut day.
Meanwhile, the Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) decided to cut trading and office hours during holy month of Ramadan, officials said.
As per the decision, trading at the DSE and CSE will begin at 10:30am as usual and continue till 1:30pm instead of 2.30pm, cutting one hour from regular time.
The office of the bourses will remain open at 9:30am as usual and continue till 4pm instead of 5.30pm during Ramadan.

Editor : Iqbal Sobhan Chowdhury
Published by the Editor on behalf of the Observer Ltd. from Globe Printers, 24/A, New Eskaton Road, Ramna, Dhaka. Editorial, News and Commercial Offices : Aziz Bhaban (2nd floor), 93, Motijheel C/A, Dhaka-1000. Phone :9586651-58. Fax: 9586659-60, Advertisemnet: 9513663, E-mail: [email protected], [email protected], [email protected]