Large-cap sectors perform well

Dhaka,  Sun,  04 December 2016
Published : 26 Nov 2016, 20:19:54

Large-cap sectors perform well

FE Report

Large-cap sectors showed strong performances last week on the Dhaka Stock Exchange (DSE) that ended Thursday with the market maintaining upward trend for the four straight weeks.

Of the 19 sectors listed on the premier bourse, except corporate bonds, debenture and treasury bonds, the market capitalisation of 16 sectors closed higher while three saw mild correction, according to weekly analysis of DSE and the LankaBangla Securities.

Market insiders said the banking stocks together with some large-cap stocks of consumer sectors supported the market.

Among the large-cap sectors, the heavyweight banking sector posted a significant gain of 3.50 per cent, followed by telecommunication with 1.33 per cent, non-bank financial institutions 1.21 per cent, fuel and power 0.98 per cent, food and allied 0.74 per cent and engineering 0.16 per cent while pharmaceuticals remained flat.

Among other gaining sectors were paper and printing 10.23 per cent, mutual fund 5.51 per cent, travel and leisure 5.19 per cent, insurance 4.32 per cent, textile 3.89 per cent, IT 3.38 per cent, miscellaneous 3.37 per cent, jute 1.70 per cent and services and real estate 0.68 per cent.

The heavyweight banking sector appreciated 3.50 per cent as 27 banks closed higher, out of 30 listed banks.

Of the banks, the large-cap AB Bank was the top gainer, posting a 17.50 per cent gain, followed by Dhaka Bank with 12.30 per cent, Prime Bank 8.40 per cent, City Bank 8.20 per cent, Standard Bank 7.80 per cent, IFIC Bank 6.80 per cent and Jamuna Bank 6.78 per cent.

The telecommunication sector, which comprised two issues - Grameenphone (GP) and Bangladesh Submarine Cable Company (BSCCL) - also surged 1.33 per cent.

GP, the largest market cap listed company in Bangladesh's stock markets advanced 1.50 per cent while the state-owned BSCCL fell 1.0 per cent.

The non-bank financial institutions (NBFI) sector posted a 1.21 per cent return as 18 issues of the sector closed higher, out of 23 listed NBFI.

Of the NBFI, FAS Finance and Investment was the biggest gainer, posting a 11.30 per cent gain, followed by First Finance 10 per cent, Fareast Finance 9.20 per cent, BD Finance 8.80 per cent, Phoenix Finance 8.20 per cent, United Finance 6.80 per cent and large-cap ICB 1.30 per cent.

The textile sectors also posted a 3.89 per cent gain as 33 issues of the sector closed in green, out of 44 issues.

Of the textile issues, Dragon Sweater and Spinning was the week's best performer, posting a 31 per cent gain, followed by Generation Next Fashions 23 per cent, CMC Kamal with 12 per cent, Desh Garment 11 per cent, Familytex (BD) 11 per cent, and Square Textile, Safko Spinning and Hamid Fabrics gained 8.0 per cent each.

The fuel and power sector posted a 0.98 per cent return as 13 issues of the sector closed higher, out of 18.

Of the fuel and power issues, Doreen Power Generations and Systems saw the highest gain of 8.20 per cent, followed by GBB Power with 6.80 per cent, Summit Power 4.10 per cent, BD Welding 3.30 per cent, Khulna Power Company 2.60 per cent and Padma Oil 1.60 per cent.

The food and allied sector also appreciated 0.74 per cent as 12 issues of the sector posted positive return out of 18.

Among the food and allied issues, Rahima Foods posted the highest gain of 18 per cent, followed by Zeal Bangla Sugar Mills 12.50 per cent, National Tea Company 8.40 per cent, Golden Harvest Agro Industries 7.80 per cent and Emerald Oil 7.10 per cent.

On the other hand, ceramics, cement and tannery lost 2.02 per cent, 0.05 per cent and 0.04 per cent respectively.

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