FE Report
The market extended gaining streak for the sixth
running session Monday with turnover hitting 16-session high as
investors were relying on temporary respite in political frontier.
The
benchmark index of the Dhaka Stock Exchange --- DSEX went up further by
50.83.91 points or 1.24 per cent to close at 4,083.91 points. The blue
chip DS30 index also gained 15.32 points or 0.99 per cent to close at
1,553.62 points.
The continuous rise in share prices of the prime
bourse, the DSEX added 250.38 points to the broad index in last six
trading sessions.
The total turnover on DSE amounted to Tk 4.776
billion, an increase of 5.84 per cent over the previous session's value.
It was the highest turnover value since July 21, when it was recorded
Tk 6.06 billion.
"The last few sessions' improving turnover
value boosted up investors' confidence as they were relying on temporary
respite in political frontier," commented IDLC Investment analysis.
"Scrip
wise swings continued from the very beginning of the day's trading
session as 17 per cent of total traded securities posted 4.0 per cent
gain," the analysis of the investment bank said.
"We are
observing an increasing trend of turnover, indicating improved
participation by investors," said the LankaBangla Securities in its
daily market analysis.
"Investors are recovering some of their
position which they sold in the selling frenzy before Eid-ul-Fitr," said
the stock broker.
The LankaBangla Securities, however, said that the market direction is yet to be clear.
Now,
whether market resumes the bull trend or this is just a temporary
bounce back from the down trend which started from the peak of the
recent rally, is a matter to be seen in next few trading days, the stock
broker added.
The gainers beat losers as out of 289 issues traded on the DSE, 186 advanced, 79 declined and 24 remained unchanged.
The
activities also increased on the prime bourse. A total of 0.106 million
trades were executed with 90.4 million shares of trading volume.
The
market capitalization also increased on the DSE and stood at Tk
2,580.79 billion against Tk 2,549.06 billion in the previous session.
All
the major sectors posted gain especially telecommunications which
gained 3.05 per cent was the highest gainer. Banks followed next gaining
1.87 per cent as Prime Bank featured in the top ten gainers chart as it
closed 9.3 per cent higher.
Pharmaceuticals and fuel and power
advanced 1.18 per cent and 0.59 per cent respectively. NBFIs gained 0.41
per cent, the less as One of its issue - Midas Financing lost 13.1 per
cent, the biggest loser following its corporate declaration of no
dividends; rather the company has decided to issue right shares.
Padma
Oil became the top turnover leaders with shares worth Tk 286.8 million
changing hands followed by BSCCL, Meghna Petroleum, Olympic Industries
and GrameenPhone.
The newly listed Central Pharmaceuticals was
the biggest gainer of the day, as it posted 12.42 percent gain, while
Midas Finance was the worst loser, slumping by 13.06 per cent.
The
Chittagong Stock Exchange (CSE) also ended higher with the CSE
Selective Category Index gained 75.80 points to close at 8,017.89
points.
Gainers beat losers 116 to 64, with 21 issues remaining
unchanged in the port city bourse that traded 8.64 million shares and
mutual fund units with turnover value worth Tk 377.48 million.
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