DSE passes week with marginal fall in prices

Stocks on the premiere bourse witnessed a marginal fall during the first week of this month as most of the investors went slow in pouring funds and observed the market situation.

The broader DSE All Shares Price Index, DSEX lost 8.98 points or 0.22 percent to close at 4,118.50 points, while the DS-30 index, the blue chips gained 5.47 points or 0.36 percent to close at 1,545 points.

“Throughout the week, the market remained quiet flat and its breadth was negative during most of the trading sessions amid mixed economic indicators,” LankaBangla Securities commented in its weekly market review.

Moreover, the political uncertainty took toll in the market activities, it added.

Under new base-line, the GDP growth swells up to 6.18 per cent. Money market is also showing resilience with call money rate of 7.49 and exchange rate of BDT 77.75 per US dollar, LankaBangla Securities viewed.

“Forex reserve rose further to $16.31 billion in this week backed by improving export level, despite sluggish growth in remittance by 14.46 per cent as of August, 2013 compared to similar month of previous year,” it included.

The total turnover value of the week, consisting of five sessions, stood at Tk 24.2 billion, down 8.8 percent from the turnover value of the previous week. 

The daily average turnover value was also 27 percent lower than that of the previous week.

The market gained during three trading sessions out of five this week. The losers took a trivial lead over the gainers during the week.

Top gaining sectors of the week were IT 2.58 percent, NBFI 2.07 percent, pharmaceuticals 1.88 percent, travel and leisure 1.58 percent and service and real estate 1.53 percent.

Among the major sectors, fuel and power repeated the most with 1.68 percent loss, followed by telecommunications which was 1.44 percent lower in the week. Banking sector remained dormant in this week as well with 1.30 per cent loss. - See more at: http://www.daily-sun.com/details_DSE-passes-week-with-marginal-fall-in-prices_609_1_3_1_3.html#sthash.UyNrxOYU.dpuf

Source Daily Sun