Turnover jumps 14pc with Tk 1.1b from block transaction on DSE

Dhaka,  Wed,  20 September 2017
Published : 19 Jun 2017, 21:51:33

Turnover jumps 14pc with Tk 1.1b from block transaction on DSE

Turnover jumps 14pc with Tk 1.1b from block transaction on DSE
FE Report

Stocks on Dhaka Stock Exchange returned to higher Monday, after a single-session break.

Only three trading sessions are left before Eid vacation as trading and official activities will remain closed from June 23 in line with the government holidays.

Insiders said the market finished marginally higher as pre-Eid sale pressure faded away, while recent corrections encouraged some investors to take fresh position on some large-cap stocks.

The market started with a negative note and the downturn movement sustained till first half of the session, but last half of the session went up sharply. Finally the session added more than 17 points.

DSEX, the prime index of the Dhaka Stock Exchange (DSE) finished at 5,479, advancing 17.18 points or 0.31 per cent over the previous day.

IDLC Investment, a merchant bank, said, "Riding on late session buying pressure, key index of the prime bourse advanced 17.2 points".

The merchant bank noted that activities remained modest, generating a total turnover of Tk 5.41 billion.

"However, a total of Tk 1.1 billion worth of turnover was generated by block trades in 21 issues. Brac Bank, Berger Paints and Square Pharma generated block trades of Tk 243.4 million, Tk 199.7 million and Tk 152.7 million, respectively," said the merchant bank.

The two other indices also finished marginally higher. The DS30 index, comprising blue chips advanced 1.86 points or 0.09 per cent to finish at 2033. The DSE Shariah Index (DSES) rose 1.69 points or 0.13 per cent to close at 1,262.

Turnover, the crucial indicator of the market, also rose to Tk 5.41 billion, which was more than 14 per cent higher than the previous day's Tk 4.73 billion.

Textile sector kept its dominance in turnover chart, capturing more than 20 per cent of the day's total turnover value, followed by bank 18 per cent and pharmaceuticals 16 per cent.

EBL Securities, a stockbroker, said, "The market observed a winning session amid optimism after a sluggish start in the first session of the week".

The stockbroker noted that the index remained flat in the beginning of the session and then it picked up as investors spurred their buying spree in sector specific stocks especially, from bank, food & allied, and engineering sectors.

The large-cap sector showed positive performances except non-bank financial institutions which lost 0.14 per cent.

Engineering sector posted the highest gain of 0.59 per cent, followed by bank 0.55 per cent, food & allied 0.47 per cent. Fuel & power, pharmaceuticals, and telecommunication also advanced 0.20 per cent, 0.19 per cent and 0.15 per cent respectively.

Gainers took a strong lead over the losers, as prices of 183 securities advanced, 91 declined and 54 remained unchanged out of the 328 issues that were traded on the DSE floor.

Regent Textile topped the DSE turnover chart with about 7.05 million shares worth Tk 202 million changing hands, followed by Nurani Dyeing, Orion Pharma, Paramount Textile and Argon Denims.

The port city bourse, the Chittagong Stock Exchange (CSE), also closed marginally higher with its Selective Categories Index - CSCX -advancing 32 points to settle at 10,269.

Gainers beat losers as 130 issues closed higher, 69 closed lower and 38 remained unchanged on the CSE.

The port city bourse traded 11.50 million shares and mutual fund units' worth Tk 514 million in turnover.

Editor : A.H.M Moazzem Hossain
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