Stocks return to green zone

FE Report
Stocks returned to the green zone on Thursday with turnover crossing the Tk 5.0-billion-mark in a month as investors went on buying spree later.
Analysts said that investors took position on several stocks expecting better third-quarter earnings declarations, while some of them rebalanced their portfolios, which kept the market buoyant.
The market opened with a mixed trend, but late-hour buying binge pushed the prime index of the Dhaka Stock Exchange (DSE) 22.63 points or 0.47 per cent higher to settle the week at 4,819.45.
The two other indices also closed higher. The DS30 index, comprising blue chips, gained 11.88 points or 0.65 per cent to finish at 1,848.12. The DSE Shariah Index (DSES) rose 6.74 points or 0.57 per cent to end at 1,186.67.
Turnover stood at Tk 5.14 billion, which was 20.37 per cent higher than the previous day's Tk 4.27 billion. It was also the highest turnover since Tk 5.96 billion recorded on August 20.
Overall activities remained confined to the pharma, engineering and power sectors that account for 21 per cent, 18 per cent and 12 per cent respectively of the total DSE turnover.
International Leasing Securities, a stockbroker, said, "Investors might have preferred to take position in several large cap stocks ahead of third quarter earnings declarations".
"Positive expectation regarding market sentiment for the post-Eid sessions might have encouraged the sideline investors to inject fresh fund in the market," said the stockbroker.
Fuel and power, bank and miscellaneous sector witnessed heavy buy force, while the telecommunications sector witnessed notable correction, the stockbroker said.
IDLC Investments, said, "After previous day's correction market leaped again to close comfortably over 4,800- point level supported by higher level of activities and higher relative valuation level in large cap issues".
"Market came back with upward movement allowing normalisation of pre-festival sell-off in the capital market," said LankaBangla Securities, a stockbroker, in an analysis.
The stockbroker noted that a few banking stocks enticed the investors' buying appetite in recent time, which triggered 'ripple effect' across the financial sectors.
The large-cap sectors showed mixed performance. In the financial sector, both banks and NBFIs advanced by 0.73 per cent and 0.95 per cent respectively.
Fuel and power gained a significant 1.68 per cent today. Food and allied closed 0.46 per cent higher. Cement went up by 0.30 per cent. Telecommunications and pharma lost 1.30 per cent and 0.13 per cent respectively.
The gainers took a  strong lead over the losers as out of issues traded 317 issues traded, 171 closed lower, 96 higher and 50 remained unchanged on the DSE trading floor.
Beximco Pharma dominated the turnover chart with shares of Tk 288.52 million changing hands followed by Islami Bank, United Power, Aman Feed and BSRM Steels.
Aman Feed was the day's best performer, posting a rise of 8.03 per cent while Keya Cosmetics was the day's worst loser, plunging by 5.05 per cent.
The port city bourse Chittagong Stock Exchange (CSE) also returned to green after previous day's marginal correction with its Selective Categories Index - CSCX - gained 47.25 points to end at 8,986.47.
Gainers beat losers on the port city bourse that traded 10.25 million shares and mutual fund units with a value of Tk 372 million.
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