DSEX crosses 5,900-mark as stocks snap losing streak

Dhaka,  Thu,  21 September 2017
Published : 10 Aug 2017, 21:27:23

DSEX crosses 5,900-mark as stocks snap losing streak

FE Report

After a day-long volatility, the premier bourse closed the week's last session marginally higher, breaking the losing streak of previous two sessions.

Investors' participation in the banking sector dragged the turnover and key index while other major sectors displayed mixed performance on the Dhaka Stock Exchange (DSE).

The broad index DSEX closed above 5900-point mark and the turnover witnessed a marginal rise as compared to the previous session.

The market started the session with a positive note and flat movement was observed for more than one hour.

Later, riding on investors' participation in sector-specific stocks, the DSEX rose sharply but failed to continue until closure.

At the end of the session, the DSEX closed at 5901.80 points with a rise of 0.19 per cent or 11.67 points.

The shariah-based-index DSES rose 0.25 per cent or 3.28 points to close at 1314.53 points while the blue chip index DS30 closed at 2125.71 points with a rise of 0.21 per cent or 4.50 points.

Of 332 issues traded, 115 advanced, 173 declined and 44 remained unchanged on the premier bourse.

The turnover stood at above Tk 9.61 billion, which was 11 per cent higher than that of the previous session.

According to EBL Securities, the premier bourse displayed volatility on periodic basis and finally closed positive.

"The key index remained flat in early of the session and gained as high as 34.25 points in the middle of the session depending on investors' buying spree on stocks from bank, telecommunication and cement sectors," it said.

Later, the key index lost the momentum and landed on lower points as investors opted for some quick gains.

Among major sectors based on market capitalisation, telecommunication advanced 1.0 per cent followed by pharmaceuticals & chemicals 1.0 per cent, bank 0.8 per cent and tannery 0.6 per cent.

Of the declining sectors, engineering sector lost 0.6 per cent, fuel & power 0.4 per cent, financial institutions 0.6 per cent, services & real estate 1.9 per cent and textile 0.5 per cent.

Investors' participation was concentrated mostly on banking sector that captured 21 per cent of the market turnover, followed by textile (16.60 per cent) and engineering (14.30 per cent).

C & A Textile topped the turnover chart with a value of Tk 605 million, followed by Fortune Shoes Tk 390 million, IFAD Autos Tk 340 million, BBS Cables Tk 332 million and City Bank Tk 256 million.

Rupali Bank was the number one gainer with a rise of 9.94 per cent to close at Tk 58.60 each while Savar Refractories was the worst loser after declining 7.92 per cent to close at Tk 74.40 each.

On Chittagong Stock Exchange (CSE), all indices closed higher amid choppy trading.

At the end of the session, benchmark index CASPI closed at 18307 points with a rise of 40 points.

Of 255 issues traded, 90 advanced, 135 declined and 30 were unchanged, and the turnover stood at above Tk 532.08 million on the port city bourse.

Editor : A.H.M Moazzem Hossain
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