DSE ends week in the red despite three-day rally
The market gained ground in three of the five sessions, accumulating 98.62 points, but losses of 107.19 points in the remaining two days proved heavier, dragging the index into negative territory for the week
The Dhaka Stock Exchange (DSE) closed the week on a mixed note today (25 June), with the benchmark DSEX index posting a net decline of 9 points over five trading sessions.
The market gained ground in three of the five sessions, accumulating 98.62 points, but losses of 107.19 points in the remaining two days proved heavier, dragging the index into negative territory for the week.
Stocks extended their rally into a third consecutive session yesterday, with the DSEX rising 36 points as turnover climbed 18% to Tk1,110.74 crore.
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Trading opened on a positive note at 10am, with the benchmark indices advancing from the outset as a majority of stocks gained in value. The upward momentum held throughout the session, sustaining gains until the market closed at 2pm. Of the 395 issues traded, 273 advanced, 68 declined, and 54 remained unchanged.
Pragati Insurance led the gainers, with its share price rising 9.90% to Tk83.2. Sonargaon Textile followed with a 9.58% gain to Tk96, while Green Delta Mutual Fund added 8.57% to close at Tk3.8.
On the losing side, Beximco Ltd topped the decliners, shedding 9.84% to Tk28.4. International Leasing and Premier Leasing both fell 8.33%, closing at Tk1.1 and Tk1.2 respectively.
EBL Securities, in its daily market commentary, said the benchmark index ended the week marginally lower despite a late recovery, as early-week profit-taking following the post-budget rally outweighed a subsequent rebound driven by bargain hunting in undervalued stocks.
The brokerage noted that the market opened on a subdued note, with investors locking in gains from recently appreciated stocks amid uncertainty over near-term policy direction.
Momentum returned from midweek, however, as bargain hunters moved in to accumulate equities, a trend supported by the Finance Minister's reaffirmation of the government's commitment to long-term capital market development.
The recovery extended through the latter part of the week, aided by easing concerns over the Strait of Hormuz and expectations of market-friendly policy developments, allowing the index to claw back most of its earlier losses. The appeal of tax rebate benefits also encouraged fresh investor exposure to the capital market, the brokerage added.
