ANALYSIS: Investors put fresh money in bank shares amid earnings declarations

Dhaka,  Sat,  23 September 2017
Published : 01 Aug 2017, 22:22:15 | Updated : 02 Aug 2017, 10:49:31
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ANALYSIS: Investors put fresh money in bank shares amid earnings declarations

FE Report


The Dhaka bourse Tuesday continued upward trend for second consecutive session following investors' increased concentration on banks.

Major sectors displayed mixed performance, but the pivotal role played by the banks helped the premier bourse to feature a turnover above Tk 12 billion.

The Dhaka Stock Exchange (DSE) started the session positively and continued for half an hour.

Later, the DSE broad index DSEX went through ups and downs before closing with a marginal rise due to investors' fresh participation.

The DSEX closed at 5876.26 points with a rise of 0.26 per cent or 15.61 points.

The shariah based index DSES closed at 1316.38 points with a rise of 0.09 per cent or 1.18 points, while the blue chip index DS30 declined 0.30 per cent or 6.55 points to close at 2136.95 points.

According to EBL Securities, investors' buying binge continued on sector specific stocks, especially from banking sector. "Some fresh buys took place on the stocks in pharmaceuticals, chemicals and textile sectors," it said.  

Of the 330 issues traded, 172 advanced, 128 declined and 30 remain unchanged on the premier bourse.

The turnover stood at above Tk 12.37 billion, which was 6.10 per cent higher than the turnover of the previous session.

Of total turnover, Tk 8.96 billion came from transactions of 'A' category shares.

Among the gaining sectors, bank advanced 0.8 per cent, IT 0.4 per cent, pharmaceuticals & chemicals 0.2 per cent and textile 1.20 per cent.

Of the declining sectors, financial institutions lost 1.5 per cent, engineering 0.6 per cent, fuel & power 0.4 per cent, telecommunication 0.1 per cent and travel & leisure 0.2 per cent.

Investors' participation was concentrated mostly on banking sector which captured 30.10 per cent of the market turnover followed by textile 15.50 per cent and engineering 8.90 per cent.

City Bank topped the turnover chart with a value of Tk 481 million, followed by C & A Textile Tk 457 million, LankaBangla Finance Tk 381 million, One Bank Tk 257 million and Premier Bank Tk 254 million.

Dulamia Cotton Spinning Mills, a 'Z' category company, topped the gainers chart with a rise of 9.45 per cent to close at Tk 13.90 each. DSE does not, however, show the top gainers on its website.

BBS Cables was the number one loser after declining 8.08 per cent to close at Tk 82.10 each on the second day of its trading.

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