FE Report
Stocks inched up Monday amid see-saw trading throughout the session with turnover remaining sluggish, as volatile market sentiment kept investors cautious.
The prime index of the Dhaka Stock Exchange (DSE) - DSEX - gained 27 points till the mid-session, but slowed down during the remaining trading hours. At the end of the session, DSEX ended at 4,491.98 points, gaining 13.29 points or 0.29 per cent.
The other two indices also closed positive. The DS30, comprising blue chips, gained 10.10 points or 0.63 per cent to close at 1,603.53 points. The DSE Index (DSES) went up by 2.39 points or 0.24 per cent to close at 975.96 points.
Turnover value on DSE stood at Tk 2.87 billion, registering 3.62 per cent increase over the previous session's value of Tk 2.77 billion.
"The market ended with a marginally positive stance while turnover remained sluggish," commented International Leasing Securities, in its daily market analysis.
Major sectors of the market stayed in green zone, as particular scrips in those respective sectors performed relatively well.
"The investors' indecisive sentiment continued, as turnover did not show any considerable improvement," it added.
"Reversed force of Large Cap scrips, particularly Marico, Lafarge Surma Cement and BATBC gained 6.20 per cent, 3.33 per cent and 3.25 per cent respectively, against waning Micro Cap scrips, pulled up the market during the day's session," observed IDLC Investments.
Alongside, spikes at scrips level continued prevailing and prolonging further. Since confidence did not solidify enough to offer perfect confirmation of upbeat reversal, investors' intention stayed largely unchanged.
Sequentially, activity was sluggish, keeping turnover below Tk 3.0 billion mark for the last three consecutive sessions, the merchant bank added.
"Market reversed in green territory Monday with increase in market turnover. As financial, energy and manufacturing stocks, which got corrected heavily in last few trading sessions, gained momentum Monday," said LankaBangla Securities.
Among the big sectors bank, fuel & power and pharma advanced the market capitalization by 0.2 per cent, 0.8 per cent and 1.1 per cent respectively, inching up the index close to 4,500-point mark.
Mercantile Bank registered 45 per cent growth in net profit year-on-year for the year ended in 2013, said the stock broker.
"Large cap scrips showed some notable movements, for which the market shook off its gloomy position. The turnover volume was narrow, but if the market keeps showing worthy performance, then turnover volume is likely to follow the index," said Zenith Investments.
Out of the 289 issues traded, 127 advanced, 129 declined and 33 issues closed unchanged on the DSE floor.
Food & allied faired the best among all the sectors with 1.98 per cent gain. BATBC - the largest cap stock in food sector - went up by a staggering 3.25 per cent.
The other major sectors also ended in green. Pharmaceuticals closed 1.08 per cent higher, followed by fuel & power 0.83 per cent and telecommunications gained 0.69 per cent.
The financial sectors gained the least with banks and NBFIs going up by 0.22 per cent and 0.44 per cent respectively.
Activities increased in the major bourse, where volume was up 2.94 per cent, but trade was down 11.48 per cent. A total of 0.071 million trades were executed with 59.07 million securities of trading volume.
The total market capitalization on DSE stood at Tk 2,835.37 billion against Tk 2,822.65 billion in the previous session.
Lafarge Surma Cement became the top turnover leader with shares worth Tk 283.32 million changing hands. It was followed by Padma Oil, Square Pharma, National Tubes and BSC.
Eastern Lubricants was the day's highest gainer, posting a rise of 6.69 per cent. Renwick Jajneswar was the day's worst loser, slumping by 8.62 per cent.
The Chittagong Stock Exchange (CSE) also closed positive with its Selective Categories Index - CSCX - gained 14.74 points to close at 8,704.13 points.
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