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Stocks see marginal rise on DSE

Volatility ahead of monetary policy statement, year-end dividend declaration


FE Report | January 30, 2019 00:00:00


Dhaka bourse closed the Tuesday's session with a marginal rise following investors' increased participation in some major sectors.

On the day, the broad index displayed daylong volatility as many investors took positions in sector specific sectors while others opted to book profits ahead of disclosing monetary policy.

At the end of the session, the DSEX, the broad index of Dhaka Stock Exchange (DSE), closed at 5924.53 points with a rise of 0.34 per cent or 20.30 points.

After four sessions, the turnover went down below Tk 10 billion on the DSE.

The market opened the Tuesday's session with a positive note and soon later the broad index of the premier bourse declined for a while.

A recovery stance was observed during the mid session and investors' participation increased in bank, general insurance and telecommunication sectors.

Some other major sectors such as financial institutions and pharmaceuticals & chemicals witnessed price correction.

Finally, the broad index managed to close positive after the corrections observed in previous two sessions.

The shariah based DSES advanced 0.16 per cent or 2.17 points to close at 1331.62 points on Tuesday.

The DS30 index comprising blue chip securities declined 0.02 per cent or 0.47 point to close at 2046.29 points.

"The active presence of the bargain hunters on telecom, bank, textile and general insurance sectors' stocks helped the index to back in green," said a market review of the International Leasing Securities.

Of 347 issues traded, 151 advanced, 159 declined and 37 were unchanged.

The turnover stood at above Tk 9.45 billion which was 6.31 per cent less than the turnover of the previous session.

Of the sectors which advanced, bank rose 1.3 per cent, engineering 0.1 per cent, general insurance 2.3 per cent, telecommunication 1.4 per cent and textile 0.4 per cent.

Of the sectors which witnessed correction, fuel & power declined 1.0 per cent, pharmaceuticals & chemicals 0.2 per cent, tannery 0.3 per cent and travel & leisure 0.9 per cent.

Investors' participation was mostly concentrated on general insurance sector which grabbed 14.10 per cent of the market turnover followed by engineering 13.10 per cent, bank 11.60 per cent and textile 11.60 per cent.

"The broad index displayed volatility throughout the session as investors opted for taking fresh position in sector specific stocks ahead of year-end dividend declaration and monetary policy statement for second half of FY 2018-2019," said the EBL Securities.

Eastern Housing topped the turnover chart with a value of Tk 349 million followed by United Power Generation and Distribution Company Tk 332 million, Premier Bank Tk 305 million, Grameenphone Tk 255 million and National Polymer Industries Tk 237 million.

National Polymer Industries was the number one gainer with a rise of 9.89 per cent to close at Tk 86.60 each.

On the Chittagong Stock Exchange (CSE), the benchmark index CASPI advanced 0.25 per cent or 46.24 points to close at Tk 18190.64 points.

Of 273 issues traded, 114 advanced, 126 declined and 33 were unchanged.

At the end of the session, the turnover stood at above Tk 377.38 million on the port city bourse CSE.

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