FE Report
After three sessions of correction, market reversed with a strong comeback Wednesday amid high turnover value as investors took fresh position amid optimism.
The General Index of the Dhaka Stock Exchange (DGEN) ended at 4,465.47 points, gaining 55.35 points or 1.25 per cent, although DGEN crossed 4,500 points level in intra-day sessions.
The other two indices also ended in green --- the DSEX went up by 43.53 points or 1.04 per cent to close at 4,190.09 points while the blue chip index DS30 gained 20.83 points or 1.34 per cent to close at 1,567.57 points.
The total market turnover at DSE increased by 53.72 per cent over the previous session value and stood at Tk 7.86 billion at the end of the session.
"Tri-session long volatility reversed with a strong comeback, amid investors' fluent participation," commented IDLC Investments, in its daily market analysis.
Apparently, market reacted positively over some positive news of increased FDI (Foreign Direct Investment) and portfolio investment in the bourse during recent time, said the merchant bank.
Alike recent market sentiment, activity was mostly centered to Fuel and Power (24.32%) sector as a good number of scrips of the sector had June year-ending. Besides, engineering sector had remarkable (11.31%) turnover, the merchant bank added.
"After seeing three days of sell off, investors saw renewed accumulation as the profit booking for the quarter-end comes to an end," stated LankaBangla Securities.
The market rally centered on the large capitalization stocks. Banking sector stocks continued to remain out of favor for the time being, although many of the companies in this sector are now trading below their tangible asset value, the stock broker said.
"Market made a comeback in terms of gaining both market cap and turnover. The initial hike may not seem to be justified just after a severe correction but the turnover justifies it all," according to Zenith Investments.
It added strength to already strong liquidity of the market. A good number of support zones are seen in the price chart that somewhat assures of the positive tendency of the market, said the Zenith analysis.
If turnover like that continues, market is very much unlikely to deviate from present condition and fall further. Rather, upcoming earning announcement and monetary policy statement might work as stimulus and therefore give a shake to the market in a positive sense, the Zenith analysis added.
The gainers took a modest lead over the losers as out of 288 issues traded, 179 advanced, 82 declined and 27 remained unchanged in the primer bourse.
All the major sectors ended positive except banks which retraced 0.79 per cent. NBFIs were the market mover as it gained 4.49 per cent. Fuel and power sector advanced 2.77 per cent and also contributed the highest sectoral turnover with 26.26 per cent of total market turnover.
The other major sectors gained marginally --- telecommunications and pharmaceuticals gained 0.90 per cent and 0.53 per cent respectively.
After three sessions of correction, market reversed with a strong comeback Wednesday amid high turnover value as investors took fresh position amid optimism.
The General Index of the Dhaka Stock Exchange (DGEN) ended at 4,465.47 points, gaining 55.35 points or 1.25 per cent, although DGEN crossed 4,500 points level in intra-day sessions.
The other two indices also ended in green --- the DSEX went up by 43.53 points or 1.04 per cent to close at 4,190.09 points while the blue chip index DS30 gained 20.83 points or 1.34 per cent to close at 1,567.57 points.
The total market turnover at DSE increased by 53.72 per cent over the previous session value and stood at Tk 7.86 billion at the end of the session.
"Tri-session long volatility reversed with a strong comeback, amid investors' fluent participation," commented IDLC Investments, in its daily market analysis.
Apparently, market reacted positively over some positive news of increased FDI (Foreign Direct Investment) and portfolio investment in the bourse during recent time, said the merchant bank.
Alike recent market sentiment, activity was mostly centered to Fuel and Power (24.32%) sector as a good number of scrips of the sector had June year-ending. Besides, engineering sector had remarkable (11.31%) turnover, the merchant bank added.
"After seeing three days of sell off, investors saw renewed accumulation as the profit booking for the quarter-end comes to an end," stated LankaBangla Securities.
The market rally centered on the large capitalization stocks. Banking sector stocks continued to remain out of favor for the time being, although many of the companies in this sector are now trading below their tangible asset value, the stock broker said.
"Market made a comeback in terms of gaining both market cap and turnover. The initial hike may not seem to be justified just after a severe correction but the turnover justifies it all," according to Zenith Investments.
It added strength to already strong liquidity of the market. A good number of support zones are seen in the price chart that somewhat assures of the positive tendency of the market, said the Zenith analysis.
If turnover like that continues, market is very much unlikely to deviate from present condition and fall further. Rather, upcoming earning announcement and monetary policy statement might work as stimulus and therefore give a shake to the market in a positive sense, the Zenith analysis added.
The gainers took a modest lead over the losers as out of 288 issues traded, 179 advanced, 82 declined and 27 remained unchanged in the primer bourse.
All the major sectors ended positive except banks which retraced 0.79 per cent. NBFIs were the market mover as it gained 4.49 per cent. Fuel and power sector advanced 2.77 per cent and also contributed the highest sectoral turnover with 26.26 per cent of total market turnover.
The other major sectors gained marginally --- telecommunications and pharmaceuticals gained 0.90 per cent and 0.53 per cent respectively.
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