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Bearish trend continued on the Dhaka Stock Exchange (DSE) last week, despite the total turnover rose by 5.73 percent over the previous week.

Week-on-week basis, the DSE General Index slightly declined by 5.33 points, or 0.18 percent to 3019.14 points, while the DSE All Share Price Index fell by 9.84 points, or 0.38 percent, to 2588 points on Thursday, the last trading day of the week.

According to market insiders, regulatory measures to bring some changes in mutual fund rules contributed to downtrend on the premier bourse.

The Securities and Exchange Commission (SEC) on June 26 at a meeting decided that no close-end mutual fund will be allowed to issue pre-emptive rights shares to the existing unit holders. The SEC also decided that mutual funds will not be allowed to raise their capital base through issuing rights or bonus shares.

Following the regulator's move prices of all mutual funds dropped heavily for several consecutive days. However, the prices of mutual funds rose on the last trading day of the week on the rumour that the SEC may revise its decision, the market insiders said.

On Sunday, a group of investors also took to the streets in front of the DSE building protesting the commission's move to review the mutual fund rules.

The total turnover on the prime bourse was Tk 1,132.59 crore last week against Tk

1,071.22 crore the previous week. The daily average turnover rose by 32.16 percent with Tk 283.14 crore per day.

The trading however remained close on July 1 due to banks closing day on June 30.

The total transactions also rose by 27.3 percent. A total of 7,63,85,522 shares were traded last week against 6,00,04,497 shares the previous week.

The losers however dominated the gainers throughout the week. Of the issues traded, 53 advanced, 184 declined and five remained unchanged.

Trading debut of Titas Gas Transmission and Distribution Company was a major event in last week with no shares were offloaded on the very first day, Tuesday, due to the owners reluctance to sell Titas shares at lower prices. However, only a handful of shares were offloaded on Wednesday, the second day of state-run gas company's debut.

At the end of the week, the turnover leaders were Square Pharma, Lankabangla Finance, AIMS 1st Mutual Fund, Fareast Islamic Life Insurance, ACI, Grameen Mutual Fund One, Uttara Bank, Beximco Pharma, Apex Adelchi Footwear and AB Bank.

The price indices on the Chittagong Stock Exchange (CSE) also closed higher last week with the losers dominating the gainers throughout the week.

The CSE Selective Categories Index rose by 0.56 percent to 5904.11 points on Thursday, while the CSE All Share Price Index increased by 0.43 percent to 9112.22 points on the last trading day.

A total of 1,66,13,287 shares worth Tk 135.68 crore changed hands on the port city bourse. Of the issues traded, 49 advanced, 109 declined and 10 remained unchanged.

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