Dhaka stocks decreased in the past week, after a short lived rebound in its indices in the previous week, as investors were reluctant to buy stocks amid the ongoing confidence crisis in the market, market operators said.
They said that investors remained observant of the market amid the continuous bearish vibe in the absence of any significant trigger for a recovery.
DSEX, the key index of the Dhaka Stock Exchange, decreased by 37.12 points, or 0.71 per cent, in the past week to end at 5,184.45 points, after increasing by 116.14 in the previous week.
The DSE operated on four sessions in the past week, and remained off on December 25 for the Christmas day. Among the four sessions, three witnessed decrease in its key index, and one saw increase.
Investors were cautious as the Bangladesh Securities and Exchange Commission recently imposed huge amount of fines on several individual investors and entities on allegations of share price manipulation and violation of securities laws, the market operators said.
The ICB started injecting funds in the market in the past week from the Tk聽3,000 crore loan it got, which supported the recovery. However, it failed to spark any significant recovery trigger, according to the market operators.
They added that the rising interest rates made fixed-income instruments more lucrative compared to the capital market return to the investors.
The daily average turnover on the DSE decreased in the past week to reach Tk 293.53聽 crore compared with that of Tk聽373.07 crore in the previous week.
Of the 396 issues traded in the past week, 101 increased, 250 decreased and 45 stayed the same.