FE Report
Stocks edged marginally higher for the second running sessions Wednesday amid volatile trading as investors remained active on lucrative stocks.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 7.70 points or 0.41 per cent to end at 4,816.35, after witnessing volatility almost throughout the trading session.
The two other indices also ended in green. The DS30 index, comprising blue chips, gained 7.49 points or 0.41 per cent to settle at 1,849.35. The DSE Shariah Index (DSES) advanced 3.97 points or 0.33 per cent to close at 1,188.30.
"Though the broader economic scenario dictates no clear sign of future outlook, investors opted for taking position in stocks that witnessed notable price correction in recent period," said International Leasing Securities, a stockbroker, in an analysis.
"Buying of shares from financial institutions and pharma issues helped to survive despite price correction in bank, telecom and fuel and power sectors," said the stockbroker.
Turnover, the another important indicator of the market, stood at Tk 5.50 billion, which was 4.16 per cent higher than the previous day's Tk 5.28 billion.
Engineering, pharma and power sectors accounted for 17 per cent, 15 per cent and 14 per cent of the day's total turnover respectively.
MTB Capital Limited, a merchant bank, said, "Late hour buy pressure helped DSEX to stay above 4,800-mark".
The merchant bank noted that through the market opened with a positive mood but soon after the first hour investors went for picking marginal profit. However, last hour investors intensified their buying binge in some big-cap stocks, which helped to close the market green.
LankaBangla Securities, a stockbroker, said, "After coming under pressure at the middle of the trading session, market eked out marginal gain in benchmark index".
The day was bit volatility amid the release of a mixed batch of economic data, said the stockbroker.
According to Sheltech Brokerage, financial institutions led the top market capitalisation gainers with 3.3 per cent gain, while bank led the top market capitalisation losers with 0.7 per cent loss.
Miscellaneous sector showed the highest turnover increase of 42.6 per cent while telecommunication sector showed the highest turnover loss of 52.2 per cent, said the Sheltech Brokerage.
The major sectors posted mixed performance. Among them, NBFIs saw a heavy gain of 3.29 per cent followed by pharmaceuticals 0.27 per cent.
Banks witnessed the highest correction of 0.66 per cent followed by food and allied 0.49 per cent, power 0.36 per cent and telecommunication 0.35 per cent. Cement closed flat in red.
Gainers took a marginal lead over the losers as out of 319 issues traded, 155 closed higher, 116 lower and 48 remained unchanged on the DSE trading floor.
Activities increased in the major bourse where trade was up 5.37 per cent respectively but volume was down 1.90 per cent. A total number of 0.128 million trades were executed with trading volume of 142.62 million securities.
The market capitalisation on DSE stood at Tk 3,364.72 billion against Tk 3,363.71 billion in the previous trading session.
Square Pharma dominated the turnover chart with shares of Tk 245 million changing hands followed by Apex Tannery, United Power Generation and Distribution, Islami bank and RSRM Steels.
Apex Spinning was the day's best performer, posting a rise of 9.89 per cent while Eastern Lubricant was the day's worst loser, plunging by 6.90 per cent.
The port city bourse Chittagong Stock Exchange (CSE) also closed marginally higher with its Selective Categories Index - CSCX - gained 27.55 points to end at 8,991.07.
Gainers beat losers 121 to 98, with 34 issues remained unchanged on the port city bourse that traded 12.37 million shares and mutual fund units with a value of Tk 863 million.
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