11 sectors end higher, eight face corrections

Most of the major sectors posted gains on the Dhaka Stock Exchange (DSE) this week, as enthusiastic investors extended their buying spree of sector-specific large-cap issues.
Of the 19 sectors listed with the country's premier bourse, except corporate bonds, debenture and treasury bonds, the market capitalisation of 11 sectors ended higher while eight faced corrections, according to the weekly analysis by DSE and LankaBangla Securities. Thursday was the last trading session of the week.
Among the major sectors, banking sector witnessed the highest gain of 5.27 per cent, closely followed by insurance (4.31 per cent), financial institutions (3.32 per cent), cement (1.02 per cent) and telecommunications (0.89 per cent).
IT, services and real estate, ceramics, fuel and power, tannery and engineering sectors also finished higher, advancing 2.29 per cent, 0.87 per cent, 0.69 per cent, 0.28 per cent, 0.18 per cent and 0.02 per cent respectively.
In the banking sector, prices of 28 banks, out of 30, closed higher.
Of the banks, Dhaka Bank saw the highest gain of 14.50 per cent gain, closely followed by Trust Bank (14.30 per cent), Dutch-Bangla Bank (10.80 per cent), Bank Asia (10.70 per cent), Southeast Bank (9.60 per cent), Exim Bank (9.20 per cent), NCC Bank (9.0 per cent), Mutual Trust Bank (8.50 per cent), Islami Bank (8.40 per cent) and Eastern Bank (8.10 per cent).
The insurance sector also posted a significant gain of 4.31 per cent, as 44 issues of the sector, out of 47, ended higher.
Of the insurance issues, Sonar Bangla Insurance was the week's best performer, gaining 21.20 per cent, followed by Prime Insurance (14 per cent), Takaful Insurance (13 per cent), BGIC (11 per cent), Federal Insurance (10.70 per cent), Republic Insurance (10 per cent), Agrni Insurance (9.40 per cent) and Dhaka Insurance (9.10 per cent).
The non-bank financial institutions sector also surged 3.32 per cent, as 19 issues of the sector, out of 23, finished higher.
Among the NBFIs, Peoples Leasing & Financial Services was the highest gainer, posting a 7.70 per cent gain, followed by International Leasing (7.40 per cent), Phoenix Finance (6.30 per cent), BIFC (5.50 per cent), First Finance (4.30 per cent), GSP Finance (4.20 per cent), IDLC Finance (4.10 per cent), ICB (4.0 per cent) and LankaBangla Finance (2.80 per cent).
The heavyweight telecom sector comprising two issues -- Grameenphone (GP) and Bangladesh Submarine Cable Company (BSCCL) -- also inched up 0.89.
Share prices of GP, having the largest market capitalisation in the capital market, rose 1.02 per cent to close at Tk 419.50 on Thursday, the last trading session of the week.
However, the share price of BSCCL fell 2.60 per cent to close at Tk 111.60 on Thursday.
On the other hand, eight sectors faced correction, with the jute sector witnessing the biggest correction of 11.21 per cent, followed by paper & printing (6.39 per cent), food & allied (2.80 per cent), travel & leisure (1.60 per cent), miscellaneous (0.78 per cent), mutual fund (0.46 per cent), textile (0.43 per cent) and pharmaceuticals (0.38 per cent).

[email protected]