DSEX crosses 4,600-mark amid earning expectation
FE Report | Monday, 13 July 2015
Stocks edged higher Sunday, extending the gaining spell for four consecutive sessions as investors continued their buying spree amid earning expectation.
Trading and official activities on the bourses will remain closed from July 15 to July 20 on the occasion of Eid-ul-Fitr, leaving only two trading sessions before Eid vacation.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), crossed the 4,600-mark after one month and ended at 4,615.19, gaining 15.28 points or 0.33 per cent.
The two other indices also closed higher. The DS30 index, comprising blue chips, rose 15.95 points or 0.89 per cent to settle at 1,811.20. The DSE Shariah Index (DSES) advanced 2.54 points or 0.22 per cent to finish at 1,136.28.
Trading at DSE remained strong and total turnover crossed Tk 5.0 billion-mark again and amounted to Tk 5.54 billion, which was 16.14 per cent higher than the previous day's Tk 4.77 billion.
The participants kept their focus concentrated on pharma, engineering and power - the sectors that accounted for 32 per cent, 12.2 per cent and 12 per cent of the day's total turnover.
"Investors participation increased as sellers came to book profit. On the other side, promising earnings declaration from value stocks sparked strong buying interests among the investors," said LankaBangla Securities, a stockbroker, in an analysis.
"Some blue-chip stocks of pharma, power and telecommunication sector outstrip the selling force in market closing the benchmark index above 4,600-mark," said the stockbroker.
IDLC Investments, a merchant bank, said, "Broad index DSEX inched up 4,600 points level after one month of correction, backed by earnings expectations and scrip-wise stories".
"Investors showed clear preference to blue chip issues, as the blue chip index DS30 moved up by 16 points or 0.9 per cent," said the merchant bank.
The port city bourse Chittagong Stock Exchange (CSE) also closed higher with its Selective Categories Index - CSCX - gained 18.38 points to close at 8,645.
Losers beat gainers 117 to 94, with 35 issues remaining unchanged at the port city bourse that traded 12.17 million shares and mutual fund units, turnover of Tk 458 million.
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