FE Report
After facing correction in the last two sessions, market bounced back Monday with renewed strength and more volume force as investors' once again poured fresh fund into the market amid optimism.
The General Index of the Dhaka Stock Exchange (DGEN) crossed 4,700 point mark again, gaining 132.57 points or 2.87 per cent, closing the session at 4,736.03 points as the market made a strong comeback.
The free float based index, DSEX went up by 68.89 points or 1.63 per cent to close at 4,275.49 points while the blue chip index DS30 gained sharply by 44.84 points or 2.79 per cent to close at 1,650.74 points.
The total turnover at DSE recovered from previous day's two week low, amounting Tk 8.32 billion and marking a rise of 43.13 per cent over the previous session's value.
"The market bounced back with renewed strength after two sessions of consolidation. Turnover rose 43.13 per cent, indicating increased participation by investors," commented LankaBangla Securities, in its daily market analysis.
Among the major sectors, investors were particularly bullish on fuel and power and telecommunications sector. Fuel and power sector gained 3.98 per cent market cap with 25.8 per cent increase in volume and telecommunications gained 7.79 per cent with 120.5 per cent increase in volume, said the stock broker.
"Even though there was a possibility of huge political violence in the day's hartal, market made a blazing comeback paying zero attention to such possibilities," stated Zenith Investments.
"How positive the market is right now can be assessed by the day's comeback when there was a huge possibility of political violence. Market acted normal from the very beginning even before the long awaited verdict was given," observed the Zenith analysis.
Moreover, the turnover got a significant boost making the possibility of a strong bullish upside run more concrete. The way heavyweight scrips have been moving right now, this bullish run might be strongly sustainable, the Zenith Investments added.
With the recovery of 132.58 and 68.89 points respectively, after two straight waning sessions, DGEN and DSEX made robust movement throughout the day's session, stated IDLC Investments.
Strong gain in top ten market cap scrips that hold 42.80 per cent of total market capitalization drove day's market motion, said the merchant bank.
In the meantime, livelier participation along with fresh positioning and repositioning helped turnover to rebuild. Seemingly, higher relative strength was observed in fuel and power sector with more than Tk 2.0 billion turnover, the merchant bank added.
The gainers took a modest lead over the losers as out of 283 issues traded, 175 advanced, 88 declined and 20 remained unchanged in the primer bourse.
Most of the sectors made their comeback. All the major sectors gained except banks which lost 0.54 per cent.
Telecommunications achieved the highest sectoral gain of 7.79 per cent as Grameenphone (GP), the largest cap stock, was 8.7 per cent up alone. Fuel and power, NBFIs and pharmaceuticals gained 3.98 per cent and 1.98 per cent and 0.92 per cent respectively.
GP became the day's turnover leader with shares worth Tk 894.47 million changing hands followed by three oil distribution companies - Meghna Petroleum, Padma Oil and Jamuna Oil. The top four accounted for 30.6 per cent of total market turnover.
Green Delta Insurance was the day's highest gainer, posting a rise of 9.97 per cent while JMI Syringes and Medical Devices was day's worst loser, slumping by 9.95 per cent.
The Chittagong Stock Exchange (CSE) also ended higher with the Selective Categories Index gained 120.99 points to close at 8,429.34 points.
Of the 202 issues traded at port city bourse, 89 advanced, 99 declined and 14 remained unchanged that traded 9.94 million shares and mutual fund units, turnover value of Tk 556.92 million.
After facing correction in the last two sessions, market bounced back Monday with renewed strength and more volume force as investors' once again poured fresh fund into the market amid optimism.
The General Index of the Dhaka Stock Exchange (DGEN) crossed 4,700 point mark again, gaining 132.57 points or 2.87 per cent, closing the session at 4,736.03 points as the market made a strong comeback.
The free float based index, DSEX went up by 68.89 points or 1.63 per cent to close at 4,275.49 points while the blue chip index DS30 gained sharply by 44.84 points or 2.79 per cent to close at 1,650.74 points.
The total turnover at DSE recovered from previous day's two week low, amounting Tk 8.32 billion and marking a rise of 43.13 per cent over the previous session's value.
"The market bounced back with renewed strength after two sessions of consolidation. Turnover rose 43.13 per cent, indicating increased participation by investors," commented LankaBangla Securities, in its daily market analysis.
Among the major sectors, investors were particularly bullish on fuel and power and telecommunications sector. Fuel and power sector gained 3.98 per cent market cap with 25.8 per cent increase in volume and telecommunications gained 7.79 per cent with 120.5 per cent increase in volume, said the stock broker.
"Even though there was a possibility of huge political violence in the day's hartal, market made a blazing comeback paying zero attention to such possibilities," stated Zenith Investments.
"How positive the market is right now can be assessed by the day's comeback when there was a huge possibility of political violence. Market acted normal from the very beginning even before the long awaited verdict was given," observed the Zenith analysis.
Moreover, the turnover got a significant boost making the possibility of a strong bullish upside run more concrete. The way heavyweight scrips have been moving right now, this bullish run might be strongly sustainable, the Zenith Investments added.
With the recovery of 132.58 and 68.89 points respectively, after two straight waning sessions, DGEN and DSEX made robust movement throughout the day's session, stated IDLC Investments.
Strong gain in top ten market cap scrips that hold 42.80 per cent of total market capitalization drove day's market motion, said the merchant bank.
In the meantime, livelier participation along with fresh positioning and repositioning helped turnover to rebuild. Seemingly, higher relative strength was observed in fuel and power sector with more than Tk 2.0 billion turnover, the merchant bank added.
The gainers took a modest lead over the losers as out of 283 issues traded, 175 advanced, 88 declined and 20 remained unchanged in the primer bourse.
Most of the sectors made their comeback. All the major sectors gained except banks which lost 0.54 per cent.
Telecommunications achieved the highest sectoral gain of 7.79 per cent as Grameenphone (GP), the largest cap stock, was 8.7 per cent up alone. Fuel and power, NBFIs and pharmaceuticals gained 3.98 per cent and 1.98 per cent and 0.92 per cent respectively.
GP became the day's turnover leader with shares worth Tk 894.47 million changing hands followed by three oil distribution companies - Meghna Petroleum, Padma Oil and Jamuna Oil. The top four accounted for 30.6 per cent of total market turnover.
Green Delta Insurance was the day's highest gainer, posting a rise of 9.97 per cent while JMI Syringes and Medical Devices was day's worst loser, slumping by 9.95 per cent.
The Chittagong Stock Exchange (CSE) also ended higher with the Selective Categories Index gained 120.99 points to close at 8,429.34 points.
Of the 202 issues traded at port city bourse, 89 advanced, 99 declined and 14 remained unchanged that traded 9.94 million shares and mutual fund units, turnover value of Tk 556.92 million.
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