DSE market cap drops Tk 5,000cr last week

The country’s stock market continued to remain bearish for a second straight week to Thursday as investors fail to regain confidence amid floods and macroeconomic updates.

The share price of most of the companies that took part in the transaction during the week came down as well as the price index.

As a result, the market capitalisation of the Dhaka Stock Exchange (DSE), the main stock exchange, declined by about Tk 5,000 crore last week.

After the announcement of the proposed budget for FY 2022-23, the stock market remained in decline for two consecutive weeks. With this, the market capitalisation of DSE has come down to over Tk 8,000 crore in the last two weeks.

At the end of last working day, the market capitalisation of DSE stood at Tk 5,14,316 crore, which is Tk 4,995 crore or 0.96 percent less than the last working day of the previous week.

Earlier, in the previous week, the market capitalisation of the DSE had declined by Tk 3,570 crore. As a result, the market capitalisation of DSE fell by Tk 6,565 crore in two consecutive weeks.

The benchmark index of DSE, the DSEX went down over 98 points, or 1.53 percent, to 6,425 during the week.

Among other DSE indices, the shariah-based DSES decreased by 2033 points or 1.45 percent, and the blue-chip DS-30 declined by 29.34 points or 1.26 percent.

Meanwhile, the DSE had a turnover of Tk 3,822.17 crore last week, which is Tk 477.87 crore or 11.11 percent less than the previous week.

Last week, the average turnover on the DSE was Tk 764.43 crore per working day, which is Tk 95.57 crore or 11.11 percent less than the previous week.

A total of 390 companies participated in the share and unit transactions on the DSE last week. Among the companies, the share price increased 74, declined by 297 and remained unchanged by 19.

Beximco Limited’s shares were the most traded on the DSE last week. During the week, the company’s share turnover was Tk 318.87 crore, which is 8.34 percent of the total turnover.

Shares of Shinepukur Ceramics came in second place with a turnover of Tk 144.88 crore followed by JMI Hospital, BSC, Anwar Galvanizing, Fu-Wang Food, IPDC Finance, RAK Ceramics, Monno Fabrics and Saif Powertec.

Meanwhile, on the Chittagong Stock Exchange (CSE), the overall index CASPI decreased by 280 points or 1.47 percent to 18,618 during the week and Tk 199.16 crore worth of stocks were traded.