Investors take position on sector-specific stocks

Dhaka,  Sat,  23 September 2017
Published : 18 Apr 2017, 22:21:48

Investors take position on sector-specific stocks

FE Report

The Dhaka bourse Tuesday closed lower after the flat ending of previous session as most of the major sectors witnessed price corrections.

The Dhaka Stock Exchange (DSE) started the Tuesday's session positively. After 35 minutes, the broad index DSEX witnessed a straight fall and continued for more than one hour.

Later, the DSEX was able to minimise some loss and closed the session with a marginal loss of 0.43 per cent or 24.60 points to close at 5571.52.

According to EBL Securities, the day's session opened with an upbeat tune as prudent investors spurred their buoyancy to take position on sector-specific stocks.

"But the initial optimism reversed sharply in the later part of the session as risk-averse investors opted to book quick gain on stocks, especially from financial Institutions and bank sectors," said the EBL Securities.

The shariah-based index DSES declined 0.34 per cent or 4.46 points to close at 1282.54, whereas the blue chip index DS30 went down by 0.47 per cent or 9.84 points to close at 2056.18.

Of total issues traded, 91 advanced, 204 declined and 32 were unchanged.

According to MTB Capital, the day's initial mood failed to sustain and a sharp fall was observed before the midsession.

"Poor market movement along with poor turnover motivated investors to offload shares," said the MTB Capital.

The turnover stood at above Tk 7.05 billion which is 7.24 per cent less than the turnover of the previous session.

Of total turnover, Tk 469 million and Tk 303 million came from transactions executed in block board and spot market respectively.

Among the losing sectors, bank declined 0.2 per cent, engineering 0.8 per cent, financial institutions 2.60 per cent, general insurance 1.2 per cent, telecommunication 0.2 per cent and textile 0.6 per cent.

Among the gaining sectors, fuel & power advanced 0.1 per cent, mutual fund 0.3 per cent and real estate 0.3 per cent.

Investors' activities were concentrated mostly on financial institutions which captured 19.4 per cent of market turnover followed by textile 15.10 per cent, bank 13.80 per cent and fuel & power 12.40 per cent.
Editor : A.H.M Moazzem Hossain
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