Stocks edge up despite ups and downs

Dhaka,  Wed,  20 September 2017
Published : 16 Mar 2017, 21:34:56
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Stocks edge up despite ups and downs

Analysis
FE Report


The country's premier bourse on Thursday witnessed moderate rise in indices although turnover remained almost same amid investors' cautious stance.

With the day's positive closing, the market extended the gaining streak for three consecutive sessions on the Dhaka Stock Exchange (DSE).

According to MTB Capital, the premier bourse opened the session on a positive note and continued the same till closure, but during the mid session the market observed several tensed moments.

"The market witnessed ups and downs during the mid-session but late-hour buoyancy somehow managed to keep the key index above 5700 points," said MTB capital.

At the end of the session, the DSE broad index DSEX rose 0.29 per cent or 16.96 points to close at 5701.27 points.

The shariah index DSES gained 0.09 per cent or 1.26 points to close at 1311.07 points whereas the blue-chip index DS30 went up by 0.40 per cent or 8.29 points to close at 2059.63 points.

Of the 327 issues, 163 advanced, 109 declined and 55 remained unchanged on the premier bourse.

The turnover stood at above Tk 9.64 billion which was 0.87 per cent higher than the turnover of the previous session.

According to another market review of AT Capital Partners, after starting moderately, the DSEX slid sharply till the mid-session.

"Most of the prominent sectors closed higher excepting food & allied, pharmaceuticals, and telecommunication," said AT Capital Partners.

Among the major sectors based on market capitalisation, engineering advanced 1.1 per cent followed by fuel & power 0.8 per cent, cement 0.4 per cent and bank 0.2 per cent.

Among the declining sectors, food & allied lost 0.2 per cent, general insurance 0.7 per cent, mutual fund 0.3 per cent and telecommunication 0.1 per cent.

According to International Leasing Securities, investors' attention mostly concentrated on bank sector which contributed 20 per cent to the market turnover, followed by textile 15.10 per cent, engineering 14.2 per cent and financial institutions 13.30 per cent.

IFIC Bank topped the turnover chart with a value of Tk 376 million followed by LankaBangla Finance Tk 355 million, Quasem Drycell Tk 229 million, RSRM Steel Tk 220 million and BEXIMCO Tk 212 million.

Union Capital was the number one gainer with a rise of 7.24 per cent to close at Tk 31.70, whereas RN Spinning Mills topped the losers' chart after declining 13.35 per cent to close at Tk 25.30.

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