Profit booking grips investors

Dhaka,  Wed,  23 August 2017
Published : 20 Mar 2017, 21:12:11
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Profit booking grips investors

Analysis
FE Report


Dhaka bourse Monday ended in flat zone and witnessed a marginal fall in turnover amid see-saw movements.

At the end of the session, the broad index of the Dhaka Stock Exchange (DSEX) closed at 5695.72 points, which was almost equal to closing mark of the previous session.

According to International Leasing Securities, some investors were in profit taking mood, while some took position on sector-specific stocks ahead of corporate declaration.

"Buyers' attention was attracted mostly by issues from financial institution, bank and cement sector while services, engineering and pharmaceuticals & chemicals sectors declined," said the International Leasing Securities.

The shariah-based index DSES lost 0.20 per cent or 2.61 points to close at 1305.19 points, whereas the blue chip index DS30 declined 0.23 per cent or 4.77 points to close at 2061.54 points.

According to MTB Capital, during the mid-session the sellers became very active and the market entered the red zone, but later on the market managed to finish in border line.

"Apart from bank and cement, other large-cap stocks failed to shine and turnover also declined," said the MTB Capital.

Of 325 issues traded, 106 advanced, 173 declined and 46 were unchanged on the premier bourse.

According to LankaBangla Securities, a total of above 0.14 million trades were executed in trading session generating a turnover of above Tk 9.95 billion with trading volume of 294.30 million securities.

Of total turnover, Tk 259.83 million came from transactions executed in block board.

According to EBL Securities, the market started with optimistic buying spree that continued till the mid-session as prudent investors remained active in bargain purchase.

"Quick profit booking tendency gripped risk-averse investors that brought price correction in later part of the session," according to EBL Securities.

Among the gaining sectors, bank advanced 0.7 per cent, financial institutions 1.8 per cent, cement 0.2 per cent, food & allied 0.1 per cent.

Among the declining sectors, engineering lost 0.3 per cent, IT 0.7 per cent, miscellaneous 0.6 per cent, pharmaceuticals & chemicals 0.3 per cent, textile 0.3 per cent and travel & leisure 0.8 per cent.

Investors' activities were mostly concentrated in bank which contributed 24.50 per cent in market turnover followed by engineering 19.40 per cent, textile 12.1 per cent and financial institutions 11.60 per cent.

IFIC Bank topped the turnover chart with a value of Tk 432 million followed by City Bank Tk 401 million, BBS Tk 376 million, RSRM Steel Tk 375 million and AB bank Tk 256 million.

Influence of banks and financial institutions was observed in the chart of top 10 gainers.

IFIC Bank was the number one gainer after featuring a rise of 7.14 per cent to close at Tk 30.

Standard Ceramics was the worst loser after declining 3.88 per cent to close at Tk 61.90.

mufazzal.fe@gmail.com
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