Dhaka stocks dropped in the past week after gaining for four consecutive weeks, amid the countrywide shutdown enforced by the quota reform protesters, market operators said.
DSEX, the key index of the Dhaka Stock Exchange, increased by 60.28 points, or 1.10 per cent, in the past week to end at 5,446.50 points on July 18, after gaining 9.22 points in the previous week.
Market operators said that investors鈥� sentiment subdued with the prevailing uncertainties stemming from unrests centring the student movement.
They said that the investors chose for a cautious approach and were closely monitoring the market, as there were no clear indications of a sustained upward trend on the market.
The total turnover on the DSE decreased by more than 50.07 per cent in the past week to total at Tk聽2,220.42 crore compared with that of Tk聽4,447.95 in the previous week.
Market operators said many investors could not reach the brokerage houses to trade due to the shutdown.
The recent upward trend of the market was mainly due to most of the stocks prices hitting lowest points because of the previous market corrections, according to the market operators.
Buyers thought of this as an opportunity to make profits from the low-priced shares and inject fresh funds into the market, they said.
Prior to the four-week rise, the market witnessed a prolonged bearish vibe as investors were concerned with the new budget measures related to the capital market and increasing economic concerns, including continued decline in the country鈥檚 foreign exchange reserves, market operators said.
Of the 393 stocks traded in the past week, 76 went up, 304 went down and 13 stayed the same.
Investors were mostly active in pharmaceutical scrips, followed by food and engineering shares.
EBL Securities in its weekly market commentary said that the price erosion of several large-capitalised shares contributed most to the index fall.
The DSE Shariah index decreased by 16.10 points, or 1.33 per cent, to close at 1,191.43 points in the past week.
The DS30 index gained in the past week, with adding 10.90 points in the blue chip index, or 0.56 per cent, to finish at 1,953.26 points.
