DSEX losses 242 points to 30-day blockade

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BSS, Dhaka :
Dhaka stocks suffered a big loss to the countrywide blockade in the past 30 days, which began on January 5.
DSEX, the prime index of Dhaka Stock Exchange (DSE), plunged by 242 points or nearly 5.0 percent in the past one month to shrink to 4685.03 on Thursday from 4926.40 on January 5.
Similarly, the blue-chip DS30 lost 112 points or over 6.0 percent to slide at 1733.22 on Thursday when the Shariah DSES was 66.10 points or 5.61 percent down at 1110.21. On January 5, the selective indices closed at 1844.41 and 1176.31 respectively.
The daily transaction, however, rose during the period, with the value posting around 28.0 percent and the volume 22.0 percent increased on Thursday.
Analysts said the macro indicators including inflation, interest rate and private sector credit growth were in favor of the market, but stocks remained volatile only because of political terrorism during the continuous blockade and hartals, called by BNP-Jamaat alliance.
Investors were shaky because of the instability in political frontier when they went for short term investment, resulting in volatility in share prices. Some investors, however, went for occasional buying activity to get benefit from investing in shares those became cheaper on the selling frenzy by most of the individual investors.
The week ended on Thursday saw some recovery, but the overall situation was far from the reliable stability as there was no sign of improvement in the political front.
The DSE recovered 66.6 points in the last three trading sessions of the week when quarterly earnings of corporates for the October-December 2014 period sent mixed signals to investors.
Some fast-moving consumer goods (FMCG) companies, pharmaceuticals, IT and fuel and power reported extraordinary earnings growth during the quarter, alluring investors from sideline despite turbulence in political front.
This week top gaining sectors were tannery 5.33 percent, telecom 2.76 percent and pharmaceuticals 0.54 percent.
On the other hand, top losing sectors were service and real-estate (-6.59 percent), cement (-3.47 percent), fuel and power (-2.06 percent).
Top gaining companies of the week were, ILFSL 11.2 percent, ACIFORMULA 9.8 percent, AIBL1STIMF 8.5 percent, BATASHOE 8.0 percent and ICBAMCL2ND 6.7 percent.
Top losing companies included SPCL (-21.0 percent), GEMINISEA (-14.5 percent), NORTHERN (-14.1 percent), and CNATEX (-13.5 percent).
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