FE Report
Stocks posted modest gain Thursday after losing five consecutive sessions, with daily turnover hitting this year's lowest as investors remained reluctant to make fresh investments.
The single-day turnover on the DSE came down to Tk 1.66 billion, registering a decline of 46.82 per cent over the previous session's Tk 3.13 billion. It was also the lowest in two and a half months since on 28 December 2014 when turnover was Tk 1.56 billion.
"A sportive mood of ICC Cricket World Cup match has largely affected the sentiments of viewers cum investors in market, which is reflected in the market performance," said LankaBangla Securities.
After five days of losing streaks, index returned to the green zone as sellers were cheering for second quarter-final of India versus Bangladesh match during trading hours, the stock broker said.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) went up by 25.20 points or 0.56 per cent to close at 4,468.02 points after shedding 206 points in five straight sessions.
The two others indices also closed positive. The DS30 index, comprising blue chips, gained 11.55 points or 0.68 per cent to close at 1,686.67 points. The DSE Shariah Index (DSES) advanced 6.88 points or 0.64 per cent to close at 1,081.48 points.
The investors' attention was mostly focused on pharma, bank and power - the sectors that accounted for 13.7 per cent, 13.4 per cent and 13.2 per cent of the day's total turnover respectively.
Retail investors remained reluctant to make fresh investments while institutional investors sat idle. But some big players have held back their investments expecting sudden political settlement, said an analyst with LankaBangla Securities.
"Unless the dust of political unrest settles down, the market will not get back its rhythm," he said.
"Price appreciation in cement, bank and pharmaceuticals sectors helped the market to spur in indices," said brokerage International Leasing Securities in an analysis.
However, activity from the market participants dropped below Tk 2.0 billion-mark as investors were watchful about the market trend reversal, it said.
Among the large-cap sectors, cement gained 2.77 per cent after previous day's sharp decline. Pharmaceuticals appreciated 0.67 per cent. Banks advanced 0.48 per cent for the second consecutive sessions.
All the other major sectors closed in the red. Telecommunication experienced the highest loss of 0.47 per cent. NBFIs lost 0.39 per cent. Food and allied and fuel and power also retraced in the session, losing 0.38 per cent and 0.31 per cent respectively.
The gainers took a strong lead over the losers as out of 306 issues traded, 178 advanced, 95 declined and 33 remained unchanged on the DSE floor.
Activities decreased in the major bourse where trade and volume were down by 27.37 per cent and 36.29 per cent respectively. A total number of 0.052 million trades were executed with trading volume of 40.07 million securities.
The market capitalisation on DSE stood at Tk 3,108.98 billion against Tk 3,100.62 billion in the previous session.
Lafarge Surma Cement was the day's top turnover chart with shares worth Tk 96.88 million changing hands followed by GP, IFAD Autos, SPCL and ACI.
Hwa Well Textile was the day's top gainer, posting a rise of 5.06 per cent while United Finance was the worst loser, plunging by 12.03 per cent following its price adjustment after record date.
The port city bourse, Chittagong Stock Exchange (CSE) also closed in positive zone with its Selective Categories Index - CSCX - gained 44.86 points to close at 8,300.08 points.
Gainers beat losers 134 to 46, with 33 issues remaining unchanged at the port city bourse that traded 4.52 million shares and mutual fund units, turnover value of Tk 149.94 million.
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