Stocks slide slightly

The capital market orchestrated a upward movement last week as the benchmark index gained around 16 points due to higher participation of investors after the Eid-U-Azha holidays amid a mix movement of the macroeconomic indicators.

The DSEX, the key index of the Dhaka Stock Exchange, was 0.25 per cent higher at the end of the week, while turnover rose 21 per cent to Tk 717 crore.

Of the major developments in the country's economic indicators, the export sector fetched a record $55.56 billion in fiscal 2022-23 amid challenging conditions at home and abroad. The receipts are an increase of 6.67 per cent from a year earlier, according to data from the Export Promotion Bureau.

However, the Consumer Price Index rose 9.02 per cent in 2022-23 against the government's revised target of 7.5 per cent. This was the highest average inflation rate in 12 years, according to the Bangladesh Bureau of Statistics.

Migrant workers sent home $21.61 billion in remittance in the just-concluded fiscal year which was 2.75 per cent higher than that in the previous fiscal year, according to the Bangladesh Bank data.

The macroeconomic data have put some impact on the stock market, especially on the companies that are export-based, and they fared better during the week, said a top official of a brokerage firm.

However, the DSEX edged down 1 point, or 0.02 per cent, to close at 6,334 yesterday.

The DS30, the blue-chip index, decreased 0.06 per cent to 2,151 while the DSES, the Shariah-compliant index, went up 0.05 per cent to 1,375.

However, turnover, a key indicator of the market, inched up 1 per cent to Tk 899 crore.

Of the securities, 85 advanced, 108 declined and 175 did not show any price movement.

Fu Wang Food made the highest gain with an increase of 9.9 per cent.

Heidelberg Cement Bangladesh, Progressive Life Insurance, Generation Next Fashions, and Emerald Oil Industries were among the top gainers.

Sonargaon Textiles was the highest loser, shedding 8.6 per cent.

Dacca Dyeing & Manufacturing, Fu-Wang Ceramic Industries, Alltex Industries, and Prime Textile Spinning Mills were also on the list of significant losers.

Fu Wang Food was the most-traded stock on the day with its issues worth Tk 53 crore changing hands.

Lub-rref (Bangladesh), Malek Spinning Mills, Rupali Life Insurance Company, and Olympic Accessories registered significant turnover as well.

Caspi, the all-share price index of the Chittagong Stock Exchange, slipped 6 points, or 0.03 per cent, to close at 18,720.

Of the issues, 50 rose, 95 retreated and 83 did not see any price swing.

Turnover of the port city bourse inched down 1 per cent to Tk 21.22 crore.