Dhaka stocks stem two days of losses

Dhaka,  Sun,  11 December 2016
Published : 13 Oct 2016, 22:05:16

Dhaka stocks stem two days of losses

FE Report


The Dhaka bourse was back in the green zone on Thursday after two consecutive sessions of losses.

On the day most of the major sectors showed mixed performance as investors adopted a 'cautious' stance ahead of the companies' corporate declarations, institutional traders said.

Dhaka stocks stem two days of lossesSome companies' boards recommended dividends while some others made declarations that they would hold board meetings to consider their audited and un-audited financial statements soon.

At the end of the day's trading session, the DSE broad index DSEX somehow managed to cross the 4700-point mark with a marginal rise while the turnover posted a decline on less participation of investors.

The DSEX closed at 4701 points, up by 0.25 per cent or 11.99 points.

The day's session got going on a positive note. Soon after that the DSEX witnessed ups and downs amid choppy trading. Eventually the market closed with a marginal rise in indices.

The DSE Shariah index DSES went up by 0.16 per cent to close at 1123.59 points. The blue chip index DS30 rose 0.43 per cent to close at 1767.55 points.

"Mixed sentiment among the investors regarding the capital market outlook amidst the earnings declaration from the listed issues has been creating choppy trading," said a market commentary of the EBL Securities Limited.

Of 322 issues traded, 134 advanced, 130 declined and 58 were unchanged.

The turnover stood at over Tk 4.07 billion (407 crore), around 9.0 per cent less than that posted in the previous session.

The companies, which made declarations that they would hold board meetings, are Grameenphone, Unique Hotel and Resorts, Pragati Life Insurance, Active Fine Chemicals, AFC Agro Biotech, Doreen Power Generations and Systems, Premier Cement, and Berger Paints Bangladesh.

However, some companies Thursday recommended dividends for the year ended on June 30, 2016.

Of the companies, MJL Bangladesh recommended 30 per cent cash dividend and Aamra Technology 10 per cent cash dividend.

Of the sectors which are major players in terms of market capitalisation, cement rose 1.0 per cent, telecommunication 1.0 per cent and food & allied 0.6 per cent.

Of the losing sectors, engineering and pharmaceuticals declined 1.1 per cent and 0.3 per cent respectively.

Investors' attention was riveted mostly on the fuel & power sector, which accounted for 21.0 per cent of the market turnover followed by the engineering sector with 14.0 per cent and banks 12.2 per cent.

The Summit Power topped the volume chart with a turnover of Tk 253 million, followed by BRAC Bank with Tk 185 million, MJL Bangladesh Tk 177 million, BSRM Limited Tk 125 million and National Housing Finance and Investment Limited Tk 116 million.

The Standard Ceramic Industries was the top gainer with its share price rising 10 per cent to close at Tk 65.70.

On the other hand, Savar Refractories was the worst loser with its share price falling 9.71 per cent to close at Tk 37.20.

On the Chittagong Stock Exchange (CSE), the benchmark index CASPI gained 26 points to close at 14437 points.

Of 228 issues traded, 92 advanced, 93 declined and 43 remained unchanged and the turnover stood above Tk 208.32 million on the port city bourse.

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