The Financial Express

Weekly review: Stocks end flat after volatile trading

| Updated: October 27, 2019 12:27:55

Evaly and Fianancial Express Evaly and Fianancial Express
FE file photo FE file photo

Stocks finished almost flat in the outgoing week that ended on Thursday as investors mostly followed cautious stance amid ongoing volatile market trend.

Week on week, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 1.01 points to close at 4,772.

Market analysts said most of the investors adopted a 'wait-and-see' policy amid ongoing depressed market outlook while some rebalanced their portfolio based on earnings and dividend declarations, taking the market in the flat zone.

Lucrative price levels and positive support from the state-run Investment Corporation of Bangladesh (ICB) in later part of the week helped the market close flat, they said.

A leading broker said that media reports that stock brokers sought Tk 100 billion fund from the government to inject new life into the moribund capital market also created a positive vibe in the market.

He, however, said some investors remained worried about the recent volatility of the market and maintained cautious stance.

The outgoing week saw five trading days as usual. Of them, three sessions ended higher while two saw mild correction.

The DSE Shariah Index also gained 2.36 points to close at Tk 1,096. However, the DS30 index, comprising blue chips, fell 3.92 points to finish at 1,675.

The weekly total turnover on the prime bourse stood at Tk 15.45 billion, slightly down from Tk 15.63 billion in the week before.

The daily turnover averaged out at Tk 3.09 billion, down 1.17 per cent from the previous week's average of Tk 3.12 billion.

Block trade contributed 4.9 per cent to the week's total turnover where stocks like Popular Life Insurance, Bank Asia, IDLC Finance, Marico Bangladesh, IPDC Finance and Jamuna Bank dominated the block trade board.

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