Large-cap sectors see negative performance

Dhaka,  Tue,  19 September 2017
Published : 16 Jun 2017, 22:24:31
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Sector-wise analysis

Large-cap sectors see negative performance

FE Report


The large-cap sectors witnessed mostly negative performance last week that ended on Thursday as investors opted for quick-profit on them ahead of Eid festival.

Of the 19 sectors listed on the prime bourse, except corporate bonds, debenture and treasury bonds, the market cap of nine sectors faced erosion while 10 managed to close green territory, according to weekly analysis of the DSE and the LankaBangla Securities.

Market insiders said as the Eid festival is near, some investors cash in on stocks, especially the issues from non-bank financial institutions, fuel & power, cement, engineering food & allied sectors.

Large-cap sectors see negative performance

Of the large-cap sectors, the non-bank financial institutions posted the highest correction of 1.23 per cent, followed by fuel & power with 0.97 per cent, engineering 0.50 per cent, and pharmaceuticals 0.14 per cent. Cement sector also eroded 1.81 per cent.

Tannery sector lost 0.79 per cent, followed by insurance with 0.55 per cent, food & allied 0.15 per cent and miscellaneous 0.02 per cent.

The non-bank financial institutions sector took a big hit, despite 12 issues of the sector closed higher out of 23 as large-cap issues of the sector faced correction.

Of the non-bank financial institutions, First Finance & Investment was the top loser, losing 10.10 per cent, followed by the state-run ICB with 3,0 per cent, Uttara Finance 2.80 per cent, Bay Leasing 2.40 per cent, FAS Finance 2.20 per cent, BIFC 2.0 per cent, GSP Finance 1.40 per cent and Phoenix Finance 1.20 per cent.

The fuel & power sector also fell 0.97 per cent as 11 issues of the sector faced erosion, out of 18.

Among the fuel & power issues, Doreen Power witnessed the highest correction of 3.80 per cent, followed by Shahjibazar Power 2.30 per cent, Summit Power 2.20 per cent, Power Grid Company 2.10 per cent, CVO Petrochemicals Refinery 2.10 per cent, United Power 1.50 per cent and Titas Gas 1.0 per cent.

The cement sector also eroded 1.81 per cent as all seven issues of the sector faced correction.

 Of the cement issues, Meghna Cement lost 4.0 per cent, followed by Confidence Cement 3.0 per cent, Lafarge Surma Cement 2.30 per cent, Aramit Cement 1.70 per cent, MI Cement 1.60 per cent and Heidelberg Cement 0.50 per cent.

On the other hand, paper & printing posted the highest gain of 2.37 per cent, followed by travel & leisure 1.58 per cent, jute 0.78 per cent, IT 0.63 per cent, ceramics 0.61 per cent, mutual fund 0.59 per cent, telecommunication 0.49 per cent, bank 0.20 per cent, textile 0.06 per cent and services & real estate 0.05 per cent.

The heavyweight telecommunication sector, which comprised two issues, Grameenphone (GP) and Bangladesh Submarine Cable Company (BSCCL) advanced 0.49 per cent.

GP, the largest market cap listed company in the country's stock exchanges rose 0.33 per cent to close at Tk 332.20 each on Thursday at DSE, the last session of the week.

The share price of BSCCL advanced 0.08 per cent to close at Tk 116.30 each on Thursday.

The heavyweight bank sector also posted the gain of 0.20 per cent as share prices of 19 banks appreciated, out of 30 listed banks.  

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