DSE comes out of red zone after seven sessions

Dhaka,  Sat,  23 September 2017
Published : 16 May 2017, 22:09:08

DSE comes out of red zone after seven sessions

FE Report

The Dhaka bourse came out of red zone riding on some major sectors Tuesday, after seven consecutive sessions of losses.

The Dhaka Stock Exchange (DSE) started positively on the day and continued for more than 50 minutes.

Later, the DSE broad index DSEX started declining and continued throughout the mid-session.

Eventually, it was able to recover the intraday loss riding on investors' increased participation during the last hour.

The DSEX closed at 5435.68 points with a rise of 0.14 per cent or 7.62 points.

The shariah based index DSES shed 0.09 per cent or 1.18 points to close at 1258.40 points while the blue chip DS30 declined 0.22 per cent or 4.55 points to close at 1997.77 points.

According to International Leasing Securities, the market opened with a buying binge but started to ebb within an hour amid selling pressure.

"The downbeat note revised in the final hour and managed to end in green. Positive earnings declarations by most of the listed banks acted as persuading force in the day's session," it said.

Of the 324 issues traded, 142 advanced, 135 declined and 47 were unchanged on the premier bourse.

At the end of the session, the turnover stood at above Tk 5.63 billion which was 4.68 per cent higher than the turnover of the previous session.

According to LankaBangla Securities, the broad index sustained and moved upward with minor ups and downs, and finally closed green riding on positive movement of fuel & power, textile and banking sectors.

Among the major sector which rose Tuesday, bank advanced 0.6 per cent, fuel & power 1.1 per cent, general insurance 0.9 per cent, service and real estate 0.1 per cent, tannery 0.7 per cent, textile 0.8 per cent and travel & leisure 1.2 per cent.

Among the declining sectors, engineering lost 0.3 per cent, financial institutions 0.7 per cent, pharmaceuticals & chemicals 0.3 per cent and telecommunication 0.6 per cent.  

Investors' attention was concentrated mostly on textile which captured 15.60 per cent of market turnover followed by financial institutions 14.40 per cent, bank 13.40 per cent, fuel & power 12.70 per cent and pharmaceuticals & chemicals 9.80 per cent.

Doreen Power Generation and Distributions Company topped the turnover chart with a value of Tk 291 million, followed by Paramount Textile Tk 253 million, RSRM Steel Tk 204 million, FAS Finance & Investment Tk 187 million and BRAC Bank 178 million.

Central Insurance was the number one gainer with a rise of 9.0 per cent to close at Tk 21.80 each while Peoples Insurance topped the losers' chart after declining 8.58 per cent to close at Tk 21.30 per share.

Editor : A.H.M Moazzem Hossain
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