Major sectors show mixed performance on DSE

Dhaka,  Tue,  23 May 2017
Published : 18 Mar 2017, 21:17:20
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Sector-wise analysis

Major sectors show mixed performance on DSE

FE Report

Major sectors showed mixed performance on the Dhaka bourse last week that ended Thursday as investors were active on both sides of the trading fence throughout the week.

Of the 19 sectors listed on the Dhaka Stock Exchange (DSE), except corporate bonds, debenture and treasury bonds, the market cap of 11 sectors closed higher while eight sectors faced mild correction, according to weekly analysis of DSE and the LankaBangla Securities.

Analysts said investors showed buying interest mostly on bank, cement, engineering and textile issues while food and allied, fuel and power and IT issues saw major correction.

Among the major sectors, ceramics posted the highest gain of 3.32 per cent, followed by banks 1.66 per cent, engineering 0.67 per cent, textile 0.47 per cent and cement 0.44 per cent.

Among other sectors, paper and printing saw 2.44 per cent gain, followed by travel and leisure with 2.11 per cent, mutual fund 1.55 per cent, jute 1.43 per cent, miscellaneous 0.54 per cent and non-bank financial institution 0.15 per cent.

The heavyweight banking sector maintained the upbeat trend, gaining 1.66 per cent further as prices of 18 banks closed higher, out of 30 listed banks.

"The market maintained upward trend riding on banks as investors continued their buying spree on bank issues amid divided expectation since most of the banks are yet to declare divided," said an analyst at a leading brokerage firm.

Of the banks, IFIC Bank was the top gainer, posting a 9.40 per cent gain following the approval news of its issuance of rights share.

The securities regulator -- Bangladesh Securities and Exchange Commission (BSEC) Wednesday approved the IFIC Bank's application to raise nearly Tk 5.64 billion through rights issue. The bank will issue one rights share for one existing share at par Tk 10 each.

Among other banks, Jamuna Bank appreciated by 8.30 per cent, followed by Brac Bank with 7.50 per cent, NCC Bank 7.10 per cent, First Security Islami Bank 7.10 per cent, Trust Bank 5.70 per cent, Shahjalal Islami Bank 4.20 per cent and Exim Bank 3.50 per cent.

The ceramics sector posted a 3.32 per cent positive return as all five issues of the sector closed higher.

Of the ceramics issues, Standard Ceramics was the highest gainer, posting 11 per cent rise, followed by Shinepukur Ceramic 3.60 per cent, RAK Ceramics 3.50 per cent and Monno Ceramics 2.20 per cent.

The cement sector also posted 0.44 per cent gain as four issues of the sector closed higher, out of seven.

Among the cement companies, MI Cement posted the highest return of 7.30 per cent, followed by Aramit Cement 5.40 per cent, Meghna Cement 4.20 per cent and Premier Cement 1.10 per cent.

The textile sector saw 0.47 per cent gain as 33 issues of the sector closed higher, out of 47.

Of the textile issues, Tosrifa Industries was the week's highest gainer, posting a 17 per cent gain, followed by Saiham Textile with 13 per cent, Malek Spinning 8.0 per cent, Safko Spinning 7.0 per cent, Makson Spinning 6.0 per cent and Prime Textile 5.0 per cent.

On the other hand, IT sector posted the biggest loser, losing 2.13 per cent, followed by services and real estate with 1.95 per cent, tannery 1.28 per cent, food and allied 0.98 per cent, telecommunication 0.30 per cent, fuel and power 0.29 per cent, insurance 0.10 per cent and pharmaceuticals 0.05 per cent.

The IT sector faced 2.13 per cent correction as six issues of the sector closed lower, out of seven.

Of the IT issues, Agni Systems posted the highest loss of 3.80 per cent, followed by BDCOM Online with 3.45 per cent, Daffodil Computers 3.40 per cent, Intech 2.10 per cent, Aamra Technologies 1.80 per cent and IT Consultants 1.0 per cent.

The food and allied sector lost 0.98 per cent as 12 issues of sector faced erosion, out of 18.

Of the food and allied issues, Meghna Condensed Milk was the top loser, shedding 7.30 per cent, closely followed by Rahima Food with 7.0 per cent, Golden Harvest Agro 3.90 per cent, Gemeni Sea Food 2.80 per cent, National Tea Company 2.50 per cent and BATBC 0.70 per cent.

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