FE Report
Stocks ended flat Sunday amid choppy trading, with turnover hitting a new low.
The market opened with a positive mood, but could not keep the momentum till the closing. The DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 3.12 points or 0.06 per cent to close at 4,769.42 points.
The DS30, comprising blue chips, shed 0.84 points or 0.04 per cent to close at 1,760.05 points. The DSE Shariah Index dropped 0.08 points to close at 1,106.77 points.
Trading at the DSE remained dry and came down to Tk 2.32 billion, registering a decline of 11.78 per cent over the previous session's Tk 2.63 billion. It is also the lowest turnover since Tk 1.93 billion on July 15 last.
The investors' attention was mostly focused on power, pharma and engineering - the sectors that accounted for 16.37 per cent, 16.30 per cent and 12.30 per cent respectively of the day's total turnover.
"The market started the week with a slow trend amidst lack of enthusiasm among the investors," said brokerage International Leasing Securities in an analysis.
The daily turnover of DSE prolonged its downslide and reached below the Tk 2.50 billion level as most of the investors refrained themselves from buying spree, said the International Leasing.
IDLC Investments said investors remained largely inactive, amid shrinking turnover.
Repeating the historical trend, some of the investors became active in small cap stocks in down market, said the merchant bank.
"Investors' confidence remained stumpy ahead of year-end as they are unsure about the market direction," said LankaBangla Securities.
However, value hunters are being facilitated by the current consolidation phase of the market, said the stock broker.
Among major news, the fuel oil price slide in the international market has eased the government's budgetary pressure as cost of its petroleum import would be reduced by up to 30 per cent, it said.
The total turnover volume kept pace with the index's fall, declining gradually over the course of each trading day, Zenith Investments said in an analysis.
Among the major sectors, NBFIs were the highest gainer of 2.41 per cent as heavy-weight Investments Corporation of Bangladesh (ICB) moved up by 4.61 per cent alone following its first quarter earning declaration.
Food and allied and telecommunication also performed well registering 1.33 per cent and 1.71 per cent gains respectively. The other sectors saw red. Banks and pharmaceuticals ended flat retracing slightly by 0.04 per cent each. Fuel and power lost 0.51 per cent was the biggest loser among the lot with the large-cap Titas Gas going down by 1.16 per cent.
The gainers took a lead over the losers as out of 302 issues traded, 139 advanced, 123 declined and 40 remained unchanged on the DSE floor.
Activities decreased in the major bourse where trade and volume were down by 9.09 per cent and 13.74 per cent respectively. A total of 0.060 million trades were executed with trading volume of 56.60 million securities.
The total market capitalisation on the DSE stood at Tk 3,164.39 billion against Tk 3,154.54 billion in the previous session.
Western Marine Shipyard was the most traded stock, with shares worth Tk 99.59 million changing hands followed by Keya Cosmetics, Lafarge Surma Cement, Beximco Pharma and AB Bank.
Agni System was the day's highest gainer, posting a rise of 8.69 per cent while Olympic Industries was the day's worst loser, slumping by 24.70 per cent following its price adjustment after record date.
However, the port city bourse Chittagong Stock Exchange (CSE) closed flat in the positive zone with its Selective Categories Index - CSCX - gained 6.62 points to close at 8,959.25 points.
Losers beat gainers 92 to 70, with 37 issues remaining unchanged at the port city bourse that traded 5.23 million shares and mutual fund units, turnover value of Tk 189.36 million.
babulfexpress@gmail.com
Blogger Comment
Facebook Comment