Textiles, power, bank issues attract investors

Stocks returned to the red Wednesday after previous session's gain as investors' confidence remained shaky amid ongoing countrywide non-stop blockade.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) went down by 9.46 points or 0.19 per cent to close at 4,747.63 points after gaining 48 points in the previous session.
The DSE Shariah Index (DSES) dropped 1.84 points or 0.16 per cent to close at 1,122.32 points. However, the DS30 index, comprising blue chips managed to close positive with gaining 1.27 points or 0.07 per cent to close at 1,756.80 points.
Trading at DSE remained sluggish and total turnover amounted to Tk 2.35 billion, registering an increase of 9.30 per cent over the previous session's value of Tk 2.15 billion.
The investors' attention was mostly focused on textiles, power and banks - the sectors that accounted for 16.7 per cent, 13.4 per cent and 11.8 per cent respectively of the day's total turnover value.
"Investor's confidence remained shaky about the market perception in spite of some positive earnings declaration," said International Leasing Securities, in its daily market analysis.
The session's morning positive walk in indices with buying spree reverted into flat in red with selling pressure in the later part, said the International Leasing.
Meanwhile, several large-cap stocks witnessed price appreciation, but price fall in banks, fuel and power contributed to the index fall, it added.
"Small-cap stocks observed buying interest in market as some sector specific stocks drowned to lucrative buying price ranges. However, overall market remained sluggish," said LankaBangla Securities.  
IDLC Investments said: "DSEX closed flat in red, amid day-long tug of war between bearish and opportunistic investors".
However, the session was asymmetric, with 171 issues declining, against advancement of 99 issues, said the merchant bank.  
The large-cap sectors yield mix performance. Telecommunication and food and allied sectors gained 0.54 per cent and 0.27 per cent respectively.
Pharmaceuticals closed flat in green with 0.04 per cent gain. Fuel and power witnessed heavy loss of 0.66 per cent. In the financial sectors - banks and NBFIs lost 0.34 per cent and 0.47 per cent respectively.
The losers took a lead over the gainers out of 305 issues traded, 171 declined, 99 dvanced and 35 remained unchanged on the DSE floor.
Activities increased in the major bourse (DSE) where volume and trade were up by 3.67 per cent and 2.09 per cent respectively. A total number of 0.070 million trades were executed with trading volume of 62.42 million securities.
The market capitalisation on DSE stood at Tk 3,190.59 billion against Tk 3,192.48 billion in the previous session.
The newly listed C & A Textiles continued to dominate the top turnover chart with shares worth Tk 129.340 million changing hands followed by Altex Industries, CVO Petrochemical, Aamra Technologies and GP.
BSCCL was the day's top gainer, posting a rise of 9.96 per cent while Exim Bank First Mutual Fund was the day's worst loser, plunging 9.58 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) also ended marginally lower with its Selective Categories Index - CSCX - lost 13.56 points to close at 8,800.97 points.
Losers beat gainers 121 to 76, with 29 issues remaining unchanged at the port city bourse that traded 6.60 million shares and mutual fund units, turnover value of Tk 190.32 million.
babulfexpress@gmail.com