Major Bangladesh Indexes Ended with Sharp Losses Last Week

DHAKA, Bangladesh – Major indexes in Bangladesh witnessed a sharp decline last week amid a steady turnover.

DSEX, the benchmark index of the Dhaka Stock Exchange, closed on Thursday at 4,671.3 points, following a loss of around 1.27% within the week. The broader index CASPI of the Chittagong Stock Exchange also recorded a decline of around 1.31%, going down towards 14,203.3 points.

The Blue-chip index DS30 also tracked a decline of around 2.54%, closing the trading session at 1,605.8 points. The DSES index based in Shariah also went down by as much as 2.43%, ending the session at 1,055.8 points.

The turnover was tracked at Tk462.2 crore on average for every session within the week, which is modestly below the turnover from the previous week, which stood at Tk475.2 crore.

From the major sectors in the exchange, the general insurance sector was the biggest contributor with its 16% share for the overall turnover. The pharmaceutical sector also added 8.9% for the overall turnover for the week, while the textile sector contributed 12.1%, and the banking sector put in as much as 15.1%.

According to the weekly market analysis, the returns sector-wise was mostly mixed last week. From the prominent sectors in the market, telecom shares recorded one of the most drops as it declined by around 3.5%, while the general insurance shares reported a 2.2% dip.

For the top turnover chart for last week, the LafargeHolcim Bangladesh Ltd secured the first spot as it recorded a Tk75.2 crore turnover, with its stock price also closing the week at Tk36.2 per stock. The Sonar Bangla Insurance Ltd took second place in the chart with a recorded turnover at Tk59.5 crore, then followed by the Paramount Insurance Company Ltd with a tracked Tk50.7 crore. The Fortune Shoes Ltd and SK Trims & Industries Ltd also took place for the top five in the chart with their Tk45.7 crore and Tk44.8 crore, respectively.

During the trading week, the Paramount Insurance Company Ltd was recorded as the top gainer with its 38.4% advance, then followed by the 28.8% gains of the Zaheen Spinning Ltd, and the 19.7% gains of the Samata First Mutual Fund. The Prime Mutual Fund and Prime Insurance Company Ltd were also among the top gainers in the market last week with their earnings of 18.8% and 16.6%, respectively.

On the other hand, the top laggards were the Stylecraft Ltd with its 56.2% decline for the week followed by the 19.6% drop of the ACI Ltd shares and the 17.2%dip of the Queen South Textile Mills Ltd. The Progressive Life Insurance Co Ltd and Bangas Ltd were also among the top losers, with 16.6% and 16% declines, respectively.