Financial issues spur the market

Dhaka,  Wed,  23 August 2017
Published : 18 Oct 2016, 21:34:26

Financial issues spur the market

FE Report

The country's premier bourse Bhaka Stock Exchange (DSE) on Tuesday witnessed a 'fabulous' session as the key index crossed the 4,700-mark amid improved confidence from the investors.

According to International Leasing Securities, the buoyancy continued throughout the session while the activity from the participants increased by 25 per cent in market turnover value.

At the end of the session, the turnover stood at above Tk 5.71 billion on the premier bourse. The broad index DSEX also closed at 4711.85 points with a rise of 0.40 per cent or 18.91 points.

The DSE Shariah index DSES and blue chip index DS30 also advanced marginally on the day compared to the previous session.

According to the LankaBangla Securities, due to investors' increased participation, the trade and volume were up by 12.36 per cent and 27.82 per cent respectively.

"The market showed a strong move early in Tuesday's trading session led by the financial stocks," said LankaBangla.

Above 0.121 million trades were executed generating a turnover of above 5.71 billion with trading volume of 207.07 million securities.

Of the 323 issues traded, 177 advanced, 98 declined and 48 remained unchanged.

The buyers' attention was mostly concentrated on the general insurance, IT, telecom and engineering sectors.

"The market opened higher and the upbeat annotation sustained till the end of the session riding on the positive macro-economic outlook with some of the companies' earnings declarations inspired the investors to redeem confidence," said a market commentary of the International Leasing Securities.

Among the major sectors based on market capitalisation, general insurance advanced 3.5 per cent, IT 3.2 per cent and telecom 1.2 per cent while among the losing sectors, travel and pharmaceuticals declined 0.6 per cent and 0.4 per cent respectively.

"Investors' sentiment regarding the market remained positive and buoyancy prevailed throughout the session," said a market review of the EBL Securities.

The investors' activity was mostly witnessed in the banking sector which captured 15.4 per cent of the market turnover followed by fuel & power 14.1 per cent and financial institutions 12.9 per cent.
Editor : A.H.M Moazzem Hossain
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