Dhaka stocks declined in the past week for the second consecutive week as a section of investors went for selling shares to prevent further erosion in their portfolios amid ongoing market volatility, market operators said.
DSEX, the key index of the Dhaka Stock Exchange, lost 2.13 points, or 0.04 per cent, in the past week to end at 5,726.52 points, after decreasing by 75.77 points in the previous week.
The Dhaka bourse operated in a total of five sessions in the past week, among which it gained in three sessions and lost in one.
Market operators said that investors were watchful amid the ongoing reform efforts to improve governance of the market by the Bangladesh Securities and Exchange Commission.
The BSEC has recently formed an investigation committee to look into activities of the Dhaka and Chattogram bourses.
The stock market regulatory authority also launched investigations into allegations of stock market anomalies by several influential individuals, including Salman F Rahman, private industries and investment affairs adviser to the deposed prime minister Sheikh Hasina.
The commission also took steps against several brokerage houses due to irregularities.
Boards of some listed banks were also recently reconstructed by the Bangladesh Bank.
The total turnover on the DSE dipped in the past week to reach Tk 3,221.45 crore compared with that of Tk聽3,994.06 crore in the previous week.
Of the 396 issues traded in the past week, 107 increased, 271 decreased and 18 stayed the same.
Investors were mostly active in pharmaceutical scrips, followed and bank and fuel and power shares.
EBL Securities in its weekly market commentary said, 鈥業nvestors preferred to remain cautious amid the earnings declaration of companies with fiscal years ending in June and ongoing reformations within the regulatory bodies.鈥�
鈥楬owever, bargain hunters stepped in to pull up the benchmark index by taking positions on certain scrips after corrections to secure short-term gains, where the formation of a task force to reform the banking sector, marginal decline in inflation and continued strong remittance inflows also worked as positive catalysts to restore the confidence.,鈥� it added.
The DS30 index decreased by 13.61 points, or 0.64 per cent, to finish at 2,100.75 points.
The DSE Shariah index gained in past week, by 16.87 points, or 1.37 per cent, to close at 1,245.68 points in the past week.
Linde Bangladesh topped the average weekly turnover chart with shares worth Tk聽34.03 crore changing hands per session.
Olympic Industries, IBN SINA Pharmaceutical Industry, BRAC Bank, Agni Systems, NRB Bank, Grameenphone, Taufika Foods and Lovello Ice-cream, ACME Laboratories and Sonali Aansh Industries were the other turnover leaders.
