Banks, NBFIs push market to bounce back

Dhaka,  Thu,  21 September 2017
Published : 22 Nov 2016, 21:46:34

Banks, NBFIs push market to bounce back

FE Report

The Dhaka bourse bounced back on Tuesday after flat movement on the previous session mainly riding on banks and non-banks financial institutions (NBFIs).

On the day, most of the banks went green registering the highest turnover of above Tk 1.01 billion on the Dhaka Stock Exchange (DSE).

The market started the day's session with a flying mood and continued the same till the end.

At the end of the session, the benchmark index DSEX rose 0.61 per cent or 28.80 points to close at 4750.20 points.

"After taking a small break above 4700 level on Monday, the DSEX experienced a sudden surge on Tuesday being supported by financial stocks. Sector-specific large and mid-cap stocks were also in buyers' radars," said a market review of LankaBangla Securities.

The shariah-based index DSES went up by 0.19 per cent or 2.21 points to close at 1129.68 points while the blue-chip index DS30 lost 0.06 per cent or 1.10 points to close at 1764.20 points.

"Some big sectors especially banks and NBFIs ignited the buying spree in the investors' minds," said the MTB Capital. It said most of the major sectors clicked on the day and the market observed some notable shifting from small-cap stocks to large-cap stocks.

Of the 319 issues traded, 176 advanced, 97 declined and 46 remained unchanged on the premier bourse.

The turnover stood at above Tk 6.55 billion which was 7.38 per cent higher than the turnover of the previous session.

Due to the investors' increased participation, trade and volume were 1.42 per cent and 30.67 per cent up respectively. A total of above 0.135 million trades were executed in Tuesday's trading session.

Bank was the best gainer followed by insurance and NBFI, while paper was the worst loser followed by food and service sector.

Among the gaining sectors, bank advanced 1.62 per cent, cement 0.01 per cent, insurance 1.39 per cent, IT 0.26 per cent, NBFI 0.96 per cent, power 0.34 per cent, tannery 0.40 per cent, telecom 0.99 per cent, textiles 0.71 per cent and travel 0.58 per cent.

Among the losing sectors, ceramics declined 0.81 per cent, food & allied 0.86 per cent, engineering 0.11 per cent and miscellaneous 0.64 per cent.

The BATBC topped in the volume chart with a turnover of Tk 259 million.

Dragon Sweater and Spinning topped the gainers chart with a rise of 9.84 per cent to close at Tk 13.40.

Paramount Textile was the worst loser after losing 9.68 per cent to close at Tk 19.60.
Editor : A.H.M Moazzem Hossain
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