A file photo shows a man looking at a computer screen displaying stock prices at a brokerage in Dhaka. — New Age Photo

Shares in Dhaka fell last week after a gain the previous week as investors hunted for profits ahead of the Eid holiday which began on Friday.

The main index of the Dhaka Stock Exchange, DSEX, fell 0.7%, or 6.7 points over the past week, to close at 6,655.67 points on April 28, the last trading session of the week, after gaining 77.39 points the previous week. .

Prior to the previous week’s gain, the DSEX had lost 172.6 points in two weeks.

Many investors opted to sell stocks to make a profit ahead of the Eid holiday.

Eid-ul-Fitr, one of the biggest religious holidays for Muslims, will be celebrated in the country on May 2 or 3.

Some investors remained cautious about the country’s macroeconomic situation amid global price volatility and rising business costs, market participants said.

The market has seen positive momentum in recent days owing to some measures by the Bangladesh Securities and Exchange Commission, including the prevention of aggressive selling pressure from brokerages.

In addition, about Tk 100 crore from the capital market stabilization fund has been given to the Bangladesh Investment Corporation and the state investment banker has injected a large portion of the fund into the market over the past week. .

Revenue rose last week as the April 20 BSEC widened the lower circuit breaker to 5% from 2% with effect from April 23.

EBL Securities, in its weekly market commentary, said: “Stock indices on the Dhaka Stock Exchange had a mixed session with investors focusing on sector-specific stocks based on the recent earnings statement. However, investor sentiment remained fragile due to macroeconomic vulnerabilities.

Average share prices for telecommunications, pharmaceuticals, cement and non-banking financial institutions fell 1.5%, 1.3%, 0.4% and 0.1% respectively.

Of 385 issues traded, 155 advanced, 198 declined and 34 remained unchanged.

Two other DSE indices also fell during the week.

The DS30, made up of 30 large-cap companies, lost 17.31 points to end at 2,460.77 points and the DSE Shariah index, DSES, also lost 17.64 points to close at 1,446.98 points.

Average daily turnover, a key indicator of investor participation, reached Tk 811.58 crore during the week, compared to Tk 548 crore the previous week.

Bangladesh Export Import Company Limited was the most traded company with shares worth Tk 249 crore changing hands.

Other revenue leaders were JMI Hospital Requisite Manufacturing Company, IPDC Finance, Orion Pharma, Bangladesh Shipping Corporation, Sonali Paper, Unique Hotel and Resorts, LafargeHolcim Bangladesh, Provati Insurance, Doreen Power Generation and Systems.