DSE turnover crosses Tk 3.0b-mark again

Stocks ended flat Monday with turnover crossing Tk 3.0 billion-mark once again as investors remained focused on large-cap stocks despite prolonged political turmoil in the country.
The market opened with an upward note, gaining 35 points, but the early enthusiasm slowed down later. Eventually, DSEX, the prime index of the Dhaka Stock Exchange (DSE) ended at 4,808.64 points, gaining 6.46 points or 0.13 per cent.
The two other indices also ended in the green. The DS30 index, comprising blue chips gained 9.50 points or 0.53 per cent to close at 1,797.66 points. The DSE Shariah Index (DSES) advanced 7.14 points or 0.62 per cent to close at 1,136.12 points.
Trading at DSE was relatively active compared to the last six sessions. The total turnover amounted to Tk 3.15 billion, registering an increase of 28.4 per cent over the over the previous session's value of Tk 2.45 billion.
The investors' attention was mostly concentrated on pharma, banks and power - the sectors that accounted for 17 per cent, 10.6 per cent and 10.5 per cent respectively of the day's total turnover.
"The market ended flat in green amid growing optimism from the investors despite ongoing political strife," said International Leasing Securities in an analysis.
Early buying pressure slowed down in the later part of the session. Several stocks from major sectors like banks, engineering and food and allied witnessed price correction, said the International Leasing.
IDLC Investments said: "Despite gloomy political scenario, investors remained active in large-cap stocks, which surged the market in the early hours but failed to keep up the momentum as the day progressed".
LankaBangla Securities said: "Market gave some return in early morning, though it erased this gain on profit booking. At the end of trading, DSEX closed flat but remained mostly positive after moving sharply up around 35 points in early trading".
"The market is still looking for the political resolution. Some sector specific stocks are benefiting from optimism about the corporate earnings," said the stock broker.
Among the major sectors banks and food and allied sectors lost 0.69 per cent and 0.23 per cent respectively.
All the other major sectors closed in green. Cement posted the highest gain of 1.46 per cent followed by pharmaceuticals which advanced by 1.07 per cent. Telecommunication and NBFIs both appreciated by 0.37 per cent and 0.28 per cent respectively. Power closed flat in green with 0.04 per cent gain.
The losers took a modest lead over the gainers as out of 311 issues traded, 144 decline, 126 advanced and 41remained unchanged on the DSE floor.
Activities increased in the major bourse where volume and trade were up by 20.83 per cent and 24.67 per cent respectively. A total number of 0.087 million trades were executed with trading volume of 68.12 million securities.
The market capitalisation on DSE stood at Tk 3,234.32 billion against Tk 3,227.48 billion in the previous session.
In the top turnover list, nine out of ten issues were large-cap stocks. Square Pharma was the most traded stock with shares worth Tk 168.68 million changing hands followed by UCBL, BSCCL, ACI and IFAD Autos.
Altex Industries was the day's top gainer, posting a rise of 9.70 per cent while Imam Button was the day's worst loser, losing 9.09 per cent.
However, the port city bourse, Chittagong Stock Exchange (CSE) ended in the red with its Selective Categories Index - CSCX - lost 8.30 points to close at 8,923.49 points.
Losers beat gainers 115 to 85, with 35 issues remaining unchanged at the port city bourse that traded 7.42 million shares and mutual fund units, turnover value of Tk 262.47 million.
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