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Turnover crosses Tk 7.0 billion-mark

imagesStocks slipped in the red for the third sessions straight on Sunday, with turnover crossing Tk 7.0 billion-mark again, as late profit booking sale cut early gains.

Market opened the week on a positive note, but, it could not sustain the momentum as session progressed. DSEX, the prime index of the Dhaka Stock Exchange (DSE) ended at 4,540.60 points, shedding 6.44 points or 0.14 per cent.

The other two indices also ended in the red. The DS30, comprising blue chips lost 4.68 points or 0.27 per cent to close at 1,721.74 points. The DSE Shariah Index shed 1.55 points or 0.14 per cent to close at 1,060.15 points.

The consequent improvement in market activities turned the turnover robust to cross Tk 7.0 billion-mark, again for the fourth time in recent period. The turnover stood at Tk 7.38 billion which was 16.78 per cent higher over the previous session’s Tk 6.32 billion.

“Having recent accumulation, marginal level of selling spree was observed, which subsequently turned the bourse into red for third consecutive session,” commented IDLC Investments in its regular market analysis.

“Still some of the investors were re-assessing future potentials and staying with market movements,” said the merchant bank.

Some of the large cap stocks rally in pharmaceuticals, fuel and power; miscellaneous and engineering sectors still on board and further fuelling the participation level, the merchant bank added.

LankaBangla Securities said: “Market lost some zeal to rally further as after rallying more than 100 points in past few weeks, index is consolidating at around 4,550 level”.

Mostly, bank, telecommunication and mutual fund dragged the market, while some MNCs and FMCG bucked the trend with rejuvenating force, it said.

Pharmaceutical, textile and oil stocks continued to be in focus as expectation of growth in quarters has garnered the interest from investors.

The major sectors saw mixed performance. Fuel and power posted the highest gain of 0.86 per cent, followed by NBFIs and pharmaceuticals gaining 0.77 per cent and 0.58 per cent respectively.

IT sector saw a staggering 6.3 per cent gain with Agni System topped the gainer chart with 9.40 per cent gain. All six issues from the sector gain while four issues featured in the top ten gainer chart.

Food and allied went down steeply by 2.07 per cent. Telecommunication and banks – the two largest cap sectors – retraced 1.59 per cent and 0.97 per cent respectively.

Activities increased in the major bourse (DSE) where trade and volume were up by 8.02 per cent and 21.32 per cent respectively. A total of 0.137 million trades were executed with 162.54 million securities of trading volume.

The total market capitalisation on DSE stood at Tk 3,020.77 billion against Tk 3,036.88 billion in the previous session.

Beximco was the most traded stock with shares worth Tk 658.12 million changing hands followed by MJL BD, BSRM Steels, Khulna Printing & Paper and ACI.

Agni Systems Ltd was the day’s highest gainer, posting a rise of 9.40 per cent while IFIL Mutual Fund One was the day’s worst loser, slumping by 9.52 per cent.

However, the port city bourse, Chittagong Stock Exchange (CSE) closed positive with its Selective Categories Index – CSCX – gained 19.56 points to close at 8,578.97 points.

Losers beat gainers 120 to 83, with 19 issues remaining unchanged at the port city bourse that traded 12.73 million shares and mutual fund units, turnover value of Tk 534.50 million.

Source: Financial Express

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