Investors remain active on DSE

Dhaka,  Tue,  19 September 2017
Published : 07 Aug 2017, 21:06:55

Investors remain active on DSE

FE Report

Dhaka bourse Monday witnessed moderate rise in key index and turnover extending gaining streak for second consecutive session.

On the day, Dhaka Stock Exchange (DSE) featured a turnover of above Tk 11 billion following the rally displayed by listed banks.

Experts said banks' rally indicates a demand is created for the shares of banks.

"Investors think that shares of banks are still under-valued. Growth of banks' earnings showed in quarterly disclosures may be another reason for demand of banks' shares," said a senior official of IDLC Finance Investment.

Market insiders said foreign buyers also purchased shares of some banks.

The Dhaka bourse started the session with a positive note and the DSE broad index DSEX rose sharply in early of the session.

After twenty minutes, the DSEX witnessed a little correction but displayed a flat rise till closure.

At the end of the session, the DSEX closed at 5913.59 points with a rise of 0.10 per cent or 5.97 points.

The shariah based index DSES and blue chip index DS30, however, declined marginally on the DSE.

Of 331 issues traded, 102 advanced, 202 declined and 27 were unchanged and the turnover stood at above Tk 11.87 billion with a rise of 29 per cent.

Of total turnover, 40.50 per cent came from transactions of shares of banks.

According to EBL Securities, momentum in the market has persuaded investors to remain active from both sides of trading fence.

"Investors spurred buying pressure on stocks from banks, financial institutions, while selling pressure was observed on stocks of pharmaceuticals & chemicals," said the EBL Securities.

Among the major sectors based on market capitalisation, bank rose bank rose 1.30 per cent, engineering 0.2 per cent, financial institutions 0.2 per cent and services & real estate 1.70 per cent.

Among the declining sectors, fuel & power lost 0.3 per cent, pharmaceuticals & chemicals 0.5 per cent, tannery 1.0 per cent, telecommunication 0.4 per cent and textile 0.7 per cent.

The banks dominated the turnover chart and IFIC Bank was number one turnover leader with a value of Tk 734 million followed by City bank Tk 348 million, BBS Cables Tk 345 million, Eastern Bank Limited Tk 336 million and National Bank Limited Tk 313 million.

Rupali Bank was the number one gainer with a rise 9.85 per cent to close at Tk 54.60, while Imam Button Industries was the worst loser after declining 8.59 per cent to close at Tk 18.10.
Editor : A.H.M Moazzem Hossain
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