FE Report
Stocks inched up Thursday amid choppy trading with turnover dipping below Tk 3.0 billon-mark on the major bourse after four months as investors followed cautious stance due to lack of clear direction.
The market opened with a positive mood which continued until the market closed. DSEX, the prime index of the Dhaka Stock Exchange (DSE) went up by 15.94 points or 0.33 per cent to close the week at 4,772.55 points.
The DS30, comprising blue chips, advanced 8.81 points or 0.50 per cent to close at 1,760.89 points. However, the DSE Shariah Index dropped 1.84 points or 0.16 per cent to close at 1,106.85 points.
Trading at DSE remained dry and amounted to Tk 2.63 billion, registering a decline of 15.70 per cent over the previous session's Tk 3.12 billion. It is more than four-month low from Tk 2.63 billion since July 20.
The investors' attention was mostly focused on pharma, power and engineering - the sectors that account for 17 per cent, 14 per cent and 13 per cent respectively of the day's total turnover.
"Market ended the day with a positive note, but turnover activity indicates that investors are still remaining cautious and observing market movement from the sidelines," said LankaBangla Securities in an analysis.
Among the major news, US oil and gas giant Chevron is eyeing to invest more in oil and gas exploration activities in Bangladesh to meet the country's mounting energy demand, said the stock broker.
IDLC Investments said: "Combined with heightened volatility and low turnover, closing session of the week ended flat".
Meanwhile, bright economic future of Bangladesh is further enforced, with Asian Development Bank (ADB) and Chevron's signals of sizeable investments in coming days, the merchant bank said.
Besides, recent clarification of Bangladesh Merchant Bankers Association (BMBA) relating to its proposals helped the market to stabilise, for now, the merchant bank added.
"The market bounced back from previous day's setback and delivered a positive session amidst the investors' optimistic attitude in bank sector," said International Leasing Securities.
However, the steady decline in overall market's participation retreated most of the investors' confidence about the current market scenario, said the International Leasing.
Following the previous day's positive note, food and allied sector registered the highest gain across all sectors with 3.55 per cent - thanks to the heavy weight BATBC being 4.8 per cent up.
Banks and pharmaceuticals appreciated by 0.41 per cent and 0.15 per cent respectively. Telecommunication edged up by slightly 0.05 per cent. Fuel and power retraced by 0.74 per cent and NBFIs closed flat in red with 0.03 per cent loss.
The gainers took a lead over the losers as out of 302 issues traded, 162 declined, 105 advanced and 35 remained unchanged on the DSE floor.
Activities decreased in the major bourse where trade and volume were down by 10.45 per cent, and 12.16 per cent respectively. A total of 0.066 million trades were executed with trading volume of 65.62 million securities.
The total market capitalisation on the DSE stood at Tk 3,154.54 billion against Tk 3,146.72 billion in the previous session.
Keya Cosmetics was the most traded stock with shares worth Tk 119.12 million changing hands followed by Beximco, Square Pharma, Western Marine Shipyard and Summit Alliance Port.
Kohinoor Chemical was the day's highest gainer, posting a rise of 7.54 per cent while Khan Brokers PP Woven Bag was the day's worst loser, slumping by 6.34 per cent.
The port city bourse, Chittagong Stock Exchange (CSE), also closed almost flat in positive with its Selective Categories Index - CSCX - gaining 3.87 points to close at 8,952.62 points.
Gainers beat losers 190 to 86, with 33 issues remaining unchanged at the port city bourse that traded 6.76 million shares and mutual fund units, with turnover value of Tk 227.75 million.
babulfexpress@gmail.com
Blogger Comment
Facebook Comment