Asian Tiger Capital Partners market update on DSE*******

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The Benchmark General Index DGEN showed signs of reversal after couple of weeks of bearish trend as the market registered gain of 4.77%. Upon resumption of trading the market was quite flat for the first couple of hours. However, it was quite clear that sellers were less willing to relinquish their holding at low price given the BF Fund registration was only a day away. 1st Quarter EPS of Jamuna bank which appeared in DSE news during trade hour clearly beat market expectation and spurred the rally in banking sector. With the Index on the rise traders also took position aggressively in other sectors. The Index was resting slightly above 6080 mark upon market closure having gained almost 277 points. Total transaction amounted to only BDT 5.07bn, which is 13.54% greater than previous day. The market had risen sharply on low volume with institutional participation still at low level. All the sectors ended in the green zone as market witnessed buying pressure all across the board. Banking sector gained 5.4% whereas NBFI, Insurance and Fuel & Power sector appreciated by 5.2%, 5.3% and 3.5% respectively. Other prominent sectors like Pharma, Textile and Cement also gained 3.6%, 4.5% and 3.5% respectively. The DGEN went up by 4.77% to close at 6083.28 points. The total transaction was worth BDT 5.07bn. Price of 239 Issues appreciated whereas 4 Issues declined and 3 other remained