Dhaka stocks end three-week winning streak

Dhaka stocks
snapped their three-week winning run last week as investors focused on
profit-taking.
The capital market took a breather from its bullish momentum as investors
engaged in broad-based selling after a sustained rally, said EBL Securities in
its weekly market review.
"Despite
beginning on a bullish impulse with robust participation, the market sentiment
turned cautious in the mid-week, triggering three consecutive sessions of
selling pressure as investors offloaded recently appreciated holdings,"
the review said.
However, the benchmark index
rebounded in the final trading session, supported by bargain-hunting by
opportunistic investors, which partially offset earlier losses and helped the
market regain some momentum, EBL Securities added.
The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), lost 90.5
points, or 1.61 percent, to close at 5,523.78.
Other indices of the DSE also
declined, according to DSE data.
The DS30, which tracks
blue-chip stocks, fell 1.45 percent to 2,151.08, while the DSES, comprising
Shariah-compliant companies, dropped 2.74 percent to 1,196.31.
Turnover, a key indicator of investor activity, fell to Tk 5,748.31 crore, down
from Tk 6,491.73 crore the previous week.
On a daily average, turnover
stood at Tk 1,149.66 crore, lower than Tk 1,298.34 crore a week earlier.
The engineering sector
dominated trading, accounting for 11 percent of the average daily traded value,
followed by pharmaceuticals and chemicals, and textiles.
In terms of sector-wise
returns, financial institutions led with a 2.99 percent rise. Travel and
leisure, services and real estate, and mutual funds also posted notable gains.
Market breadth was negative,
with 102 scrips advancing, 260 declining and 35 remaining unchanged.
Among individual issues, CAPM
BDBL Mutual Fund 01 was the top gainer, soaring 24.04 percent, while Trust
Islami Life Insurance Limited suffered the sharpest fall, losing 20.63 percent
during the week.
















