Investors take position on MNCs, newly listed stocks

Stocks returned to the green Tuesday after two sessions' correction with turnover remained sluggish as investors took position on multinational and newly listed stocks.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) went up by 38.47 points or 0.83 per cent to close at a fresh four-month high level of 4,647.43 points.
The other two indices also closed higher. The DS30, comprising blue chips gained 25.01 points or 1.43 per cent to close at 1,763.33 points. The DSE Shariah Index went up by 15.18 points or 1.41 per cent to close at 1,091.14 points.
Turnover at DSE remained sluggish in the last two weeks as the average turnover hovered around the Tk 5.0 billion mark.  The total turnover on DSE stood at Tk 5.22 billion, registering an increase of 3.98 per cent over the previous session's value of Tk 5.02 billion.
The investors' activity was mostly concentrated on engineering, pharmaceuticals and textile - the sectors that accounted for  22 per cent, 14 per cent and 13 per cent respectively of the day's total turnover.
"Stocks bounced back from previous day's sluggish performance as the investors yet again put their faith in large-cap multinational companies," commented International Leasing Securities.
Heidelberg Cement, Lafarge Surma and GP were at the centre of investors' attention in day's trading, it said.
The investors confidence also resurfaced in other sectors as several individual issues such as Singer BD and IDLC continued their price appreciation and led their respective sectors upward movement, said the International leasing.
IDLC Investments said: "Sustaining dominance of multinational companies (MNCs), especially due to dividend expectations finally pulled up the market".
The average price increase in MNCs by 3.33 per cent from last day and investors' interest in newly listed stocks like, Shurwid Industries, KPPL, Tung Hai Knitting and Far East Knitting brought a gaining tone across the bourse, said the merchant bank.
Shurwid Industries, KPPL, Tung Hai Knitting and Far East Knitting emerged in the top ten gainers' chart with gaining 11.20 per cent, 9.9 per cent, 9.9 per cent and 7.6 per cent respectively.
"After consolidating for few past trading sessions, large cap picky stocks have showed up the positive momentum pushing up the index to green note," said LankaBangla Securities.
"After two day's of drip losses, bulls came back with a blast to finish the third day of the week with a positive note," said Zenith Investments.
Among the major sectors, cement sectors gave the highest return with 4.6 per cent gain in market capitalization followed by tannery 3.0 per cent, fuel & power 2.5 per cent and telecommunication 1.6 per cent.
Pharmaceuticals, food and allied and NBFIs also moved up by 1.33 per cent, 1.49 per cent and 0.98 per cent respectively. Banks lost 0.37 per cent
Gainers outpaced losers as out of 295 issues traded, 151 advanced, 107 declined and 37 remained unchanged on the DSE floor.
Heidelberg Cement was the day's most traded stocks with shares worth Tk 207.18 million changing hands followed by Singer BD, Lafarge Surma Cement, ACI and ACI Formulations.
The new issue -- Shurwid Industries which made debut Monday, was the day's highest gainer for the second day, posting a rise of 11.20 per cent while Kay & Que was the day's worst loser, slumping by 5.88 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) also closed higher with its Selective Categories Index - CSCX - gained 40.82 points to close at 8,716.05 points.
Losers beat gainers 99 to 90, with 35 issues remaining unchanged at the port city bourse that traded 10.89 million shares and mutual fund units, turnover value of Tk 383.37 million.