Investors take position on sector-specific stocks

Dhaka,  Mon,  24 April 2017
Published : 19 Mar 2017, 20:54:28
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Investors take position on sector-specific stocks

Analysis
FE Report


The country's premier bourse Sunday closed slightly lower amid 'mixed' trading behaviour observed from the investors.

On the day, some major sectors observed selling frenzy as investors opted to bag profits by offloading shares matured in last three positive previous sessions in a row.

The market started the session with 'optimism' but eventually the optimistic trend failed to sustain the DSE broad index DSEX closed at 5695.45 points, which was 0.10 per cent less than the previous session.

According to a market review of International Leasing Securities, the market started with an upward trend and the positive trend could not continue due to short term profit 'booking' frenzy.

Later, the indices, other than blue chip index DS30, ended the session with marginal losses.

The shariah index DSEX went down by 0.24 per cent or 3.26 points to close at 1307.81 points, whereas the blue chip index DS30 gained 0.32 per cent or 6.68 points to close at 2066.31 points

"Several issues from pharmaceuticals, financial institution and bank sector enjoyed buoyancy while selling of shares mostly from ceramic, cement and fuel & power sector contributed to the fall in indices," said the market review of International Leasing Securities.

Due to the investors' increased participation, the turnover rose 14 per cent and closed at above Tk 11.03 billion.

Of 330 issues traded, 133 advanced, 164 declined and 33 were unchanged on the premier bourse.

According to another market review of EBL Securities, the premier bourse DSE observed a session of profit booking and edged in red zone amid 'watchfulness'.

"The market started with optimistic tune as investors continued their buying spree to take fresh positions in sector-specific stocks," said the EBL Securities.

It said the profit booking tendency of risk-averse investors pushed down the market in the later part of the session.

"Investors' selling spree was observed in different sectors especially in fuel & power and cement sectors."

Among the gaining sectors, bank advanced 0.1 per cent, financial institutions 0.2 per cent, pharmaceuticals & Chemicals 0.4 per cent, services & real estate 2.0 per cent, and telecommunication 0.1 per cent.

According to another market review of MTB Capital, most of the sectors failed to shine and observed marginal corrections as those stocks were in lucrative price level.

"The positive starting session sustained for an hour and soon after the midsession the sellers' domination created pressure on the market," said the MTB Capital.

Among the declining sectors, cement lost 0.9 per cent, fuel & power 0.9 per cent, miscellaneous 0.9 per cent, textile 0.2 per cent and travel & leisure 0.1 per cent.

Investors' attention was mostly concentrated on bank which contributed 20.10 per cent in market turnover followed by financial institutions 16.60 per cent, engineering 14.80 per cent, textile 14.10 per cent and pharmaceuticals & chemicals 12.50 per cent.  

LankaBangla Finance topped the turnover chart with a value of Tk 371 million followed by Beximco Pharmaceuticals Tk 326 million, RSRM Steel Tk 299 million, National Bank Limited Tk 288 million and City Bank Tk 275 million.

ICB AMCL 1st NRB Mutual Fund was the number one gainer with a rise of 9.63 per cent to close at Tk 23.90.

Mercantile Bank was the number one loser after declining 13.19 per cent to close at Tk 17.10.

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