Tk 203m comes from spot market

Dhaka,  Fri,  22 September 2017
Published : 16 Apr 2017, 21:26:50
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Tk 203m comes from spot market

Analysis
FE Report


The country's premier bourse Sunday witnessed a major correction as most of the sectors failed to perform positively.

Due to sale pressure observed in major sectors, indices declined sharply, although turnover increased a little bit following the investors' participation.

At the end of the session, the DSE broad index DSEX declined 0.93 per cent or 53.03 points to close at 5592.83.

According to MTB Capital, the premier bourse opened with a negative mood and continued the falling trend till the closure.

"Investors seemed lack of confidence as most of the major and small-cap stocks failed to perform," said the MTB Capital.

 The shariah index DSES lost 0.62 per cent or 8.11 points to close at 1286.76, whereas the blue chip index DS30 went down by 1.32 per cent or 27.63 points to close at 2059.70.

Of 326 issues traded, 90 advanced, 196 declined and 40 were unchanged on the premier bourse.

'Drastic' sale pressure was observed in some heavy weight stocks of bank, NBFI and engineering sectors, according to MTB Capital.

"Buying spree of many optimistic investors led the market to witness a turnover of above Tk 7.0 billion," said the MTB capital, adding that such turnover value was not enough to satisfy investors.

The turnover stood at above Tk 7.24 billion which is 21.57 per cent higher than the turnover of the previous session.

Of total turnover, Tk 203 million came from transactions executed in spot market.

According to EBL Securities, the premier bourse edged significantly lower amid vigilance.

"The market initiated the day's session with a downbeat tune that continued till the end of session as investors spurred their selling spree over sector-specific stocks, especially from bank, financial institutions and food & allied sectors," said the EBL Securities.

Among the major sectors which declined, bank lost 1.4 per cent, engineering 1.0 per cent, financial institutions 2.7 per cent, fuel & power 0.2 per cent, pharmaceuticals & chemicals 0.5 per cent, telecommunication 0.4 per cent and textile 0.3 per cent.

Among the gaining sectors, IT and jute advanced 1.8 per cent and 0.2 per cent respectively.

Investors' activities were concentrated mostly on textile which contributed 24.50 per cent in market turnover followed by bank 17.0 per cent, financial institutions 12.30 per cent and pharmaceuticals & chemicals 10.20 per cent.

LankaBangla Finance topped the turnover chart with a value of Tk 466 million, followed by City Bank Tk 308 million, Evince Textile Tk 243 million, Paramount Textile Tk 187 million and Beximco Tk 176 million.

Central Pharmaceuticals was the number one gainer with a rise of 9.80 per cent to close at Tk 32.30, whereas Standard Bank topped the losers' chart after declining 11.02 per cent to close at Tk 11.30.

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