FE Report
After the recent steep fall, stock prices on the bourses gained back to back sessions Wednesday with turnover improved slightly as a section of investors went for buying shares at available attractive prices.
Brokers said after recent low, most of the stocks came to a lucrative price level which encouraged a section of investors to take position anticipating short-term rally.
The General Index of the Dhaka Stock Exchange (DGEN) ended at 3,673.50 points after gaining 18.76 points or 0.51 per cent.
The DSEX went up by 22.99 points or 0.65 per cent to close at 3,526.13. The DS30 also advanced 6.74 points or 0.51 per cent to close at 1,319.76.
Total turnover on the premier bourse stood at Tk 1.45 billion, up by 11.54 per cent from the previous session's Tk 1.30 billion.
"As market steer back from the low, participation ramped up to Tk 1.45 billion. Although confidence is yet low in the bourse, comeback of DGEN from 3,600-level have spurred up some hope amid investors," commented IDLC Investments, in its regular market analysis.
Therefore, some natural buy occurred over lucrative prices after recent decline, it said.
However, activity was mostly concentrated on newly listed stocks, as their observed high volatility prompted short-term oriented investors.
Notably, Orion Pharma, Premier Cement and Summit Purbanchol Power captured 21.45 per cent of day's total turnover.
"Higher turnover indicating that buyers were more active compared to previous session. But, turnover level is still low if we compare to last 20 days average turnover of Tk 1.74 billion," stated LankaBangla Securities, a leading stock broker.
"Investors' confidence is still shaky due to ongoing political uncertainty," said the stock broker.
"The recovery rate was very slow and that tortoise like recovery became more sloth as market passed a day of total sluggishness," observed Zenith Investments.
"Political activity in coming 6th April has been a critical concern for the investors. Therefore, today's session may retain the sidewalk or even go down further anticipating further political uncertainty," said the Zenith analysis.
Of the 267 issues traded at the DSE, 181 advanced, 63 declined and 23 remained unchanged.
Among the major sectors, NBFIs outperformed others with a gain of 1.32 per cent, followed by fuel and power 0.72 per cent and banks 0.38 per cent while telecommunications and pharmaceuticals ended flat with no significant movement.
A total of 0.057 million shares and mutual fund units were traded with volume of 44.11 million. The total market capitalisation of the DSE stood at Tk 2,190.14 billion against Tk 2,181.11 billion in the previous session.
United Airways was the most traded stocks on the day with shares worth Tk 152.96 million changing hands.
United Airways was the day's top gainer posting a rise of 9.03 per cent following the news that the securities regulator will not interfere with the differed tax provisioning issue of United Airways while ICB first NRB Mutual Fund was the day's worst loser, slumping by 9.01 per cent
After the recent steep fall, stock prices on the bourses gained back to back sessions Wednesday with turnover improved slightly as a section of investors went for buying shares at available attractive prices.
Brokers said after recent low, most of the stocks came to a lucrative price level which encouraged a section of investors to take position anticipating short-term rally.
The General Index of the Dhaka Stock Exchange (DGEN) ended at 3,673.50 points after gaining 18.76 points or 0.51 per cent.
The DSEX went up by 22.99 points or 0.65 per cent to close at 3,526.13. The DS30 also advanced 6.74 points or 0.51 per cent to close at 1,319.76.
Total turnover on the premier bourse stood at Tk 1.45 billion, up by 11.54 per cent from the previous session's Tk 1.30 billion.
"As market steer back from the low, participation ramped up to Tk 1.45 billion. Although confidence is yet low in the bourse, comeback of DGEN from 3,600-level have spurred up some hope amid investors," commented IDLC Investments, in its regular market analysis.
Therefore, some natural buy occurred over lucrative prices after recent decline, it said.
However, activity was mostly concentrated on newly listed stocks, as their observed high volatility prompted short-term oriented investors.
Notably, Orion Pharma, Premier Cement and Summit Purbanchol Power captured 21.45 per cent of day's total turnover.
"Higher turnover indicating that buyers were more active compared to previous session. But, turnover level is still low if we compare to last 20 days average turnover of Tk 1.74 billion," stated LankaBangla Securities, a leading stock broker.
"Investors' confidence is still shaky due to ongoing political uncertainty," said the stock broker.
"The recovery rate was very slow and that tortoise like recovery became more sloth as market passed a day of total sluggishness," observed Zenith Investments.
"Political activity in coming 6th April has been a critical concern for the investors. Therefore, today's session may retain the sidewalk or even go down further anticipating further political uncertainty," said the Zenith analysis.
Of the 267 issues traded at the DSE, 181 advanced, 63 declined and 23 remained unchanged.
Among the major sectors, NBFIs outperformed others with a gain of 1.32 per cent, followed by fuel and power 0.72 per cent and banks 0.38 per cent while telecommunications and pharmaceuticals ended flat with no significant movement.
A total of 0.057 million shares and mutual fund units were traded with volume of 44.11 million. The total market capitalisation of the DSE stood at Tk 2,190.14 billion against Tk 2,181.11 billion in the previous session.
United Airways was the most traded stocks on the day with shares worth Tk 152.96 million changing hands.
United Airways was the day's top gainer posting a rise of 9.03 per cent following the news that the securities regulator will not interfere with the differed tax provisioning issue of United Airways while ICB first NRB Mutual Fund was the day's worst loser, slumping by 9.01 per cent
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