DSE market cap sheds Tk 923cr despite 17pc rise

The Dhaka Stock Exchange (DSE) lost Tk 923 crore in market capitalisation last week as share prices declined across a larger number of listed companies, despite a 17 per cent increase in average daily turnover.

Of the five trading sessions during the week, key indices fell in three, while 163 companies saw their share and unit prices decline. In contrast, prices rose for 178 companies, while 44 remained unchanged.

At the end of the week's final trading session, the DSE's market capitalisation stood at Tk6,73,553 crore, down from Tk6,74,476 crore at the end of the previous week.

The benchmark DSEX index dropped 4.40 points, or 0.08%, during the week. It had declined 33.19 points, or 0.61%, in the previous week.

Among the other indices, the DSE Shariah Index (DSES), which tracks Shariah-compliant companies, fell 2.96 points, or 0.28%. It had dropped 19.73 points, or 1.84%, in the preceding week.

The blue-chip DSE-30 index, comprising selected leading companies, declined 18.23 points, or 0.87%, compared with a fall of 16.54 points, or 0.79%, in the previous week.

Despite the overall market weakness, trading activity gained momentum.

Average daily turnover on the DSE rose to Tk526.79 crore from Tk450.07 crore in the previous week, an increase of Tk76.72 crore, or 17.05%.

Envoy Textiles leads turnover

Envoy Textiles topped the turnover chart, with average daily transactions worth Tk21.96 crore, accounting for 4.17% of the market's total turnover.

Matin Spinning ranked second, recording average daily turnover of Tk20.72 crore, while Saiham Textile placed third with Tk13.22 crore.

Other companies and funds among the top 10 turnover leaders were Shahjibazar Power, BRAC Bank, Paramount Textile, Evince Textiles, Prime Finance First Mutual Fund, Nahi Aluminium and IPDC Finance.

The week's trading pattern reflected a mixed market, with higher transaction volumes failing to prevent a decline in overall market capitalisation and key indices.