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Weekly Market Commentry

Morning rally couldn’t sustain; DSEX ends flat!

Following last trading session, the prime index, DSEX, remained volatile throughout the session. Starting the day with bullish move, DSEX failed to maintain the trend due to sell pressure in large caps such as ICB, ISLAMIBANK, LANKABAFIN, BEXIMCO; On the other hand GP, BRACBANK, PUBALIBANK tried to provide support and helped the index to end flat. The index had a gain of 0.1% and closed at 5474 with 183 gaining stocks and 112 losers while turnover saw a fall of 7.8%. The market was traded at a LTM P/E (Price to Earning) of 17.1x.

ISLAMIBANK gained the number one spot on the turnover board today; c BDT 352.5 mn. Number two and three spots were taken by, BEXIMCO (BDT 333.8 mn), and CONFIDCEM (BDT 227.4 mn). BEACHHATCH led the price gainer board with a 9.7% price gain while 1STPRIMFMF led the price loser board with a 5.9% loss. Among the prominent sectors Telecommunication led the top market cap gainers with 1.5% gain, while Financial Institutions led the top market cap losers with 1.2% loss. Telecommunication showed the highest turnover increase of 63.3% while Food & Allied showed the highest turnover loss of 46.7%. Bank had the highest contribution of 16.9% in turnover today.

Market is now trading above the 200 days WMA of 4836.42, Today’s market RSI was 58.87.

Date Title Source
2021-12-02 Weekly Market Commentry Sheltech Research