The Dhaka bourse rallied for the two consecutive sessions on Tuesday with increased turnover value as some enthusiastic investors remained active on bank issues.
The day's session began with a bearish tone and the key index of the Dhaka Stock Exchange (DSE) fell 30 points within the first 30 minutes.
DSEX quickly recovered the initial loss and reached the day's high 5,398.5 points in next thirty minutes, advancing 35 points.
Later on, index witnessed steady downtrend for next two hours without any major sign of reversal. In the last hour DSEX observed strong buy pressure and eventually finished at 5,392.1, gaining 29 points or 0.54 per cent over the previous day.
"The stock market remained in green for the second consecutive sessions amid choppy trading," said International Leasing Securities, a stockbroker, in its regular market analysis.
The stockbroker noted that the market faced some quick-profit booking sell pressure in early and in middle of the session, but last hours bouncy helped the market to close higher.
The two other indices also edged higher. The DS30 index, comprising blue chips advanced 5.41 points or 0.27 per cent to settle at 1,967.26. The DSE Shariah Index (DSES) gained 3.78 points or 0.30 per cent to close at 1,261.08.
Pacific Denims, which made trade debut on the day, rose 170 per cent from its initial public offering (IPO) price of Tk 10 and closed at Tk 27 each.
"The newcomer attracted the investors most which prompted some sell pressure in other issues. It also topped the turnover, contributing 10 per cent of the day's total turnover," said the International Leasing Securities.
On the day, majority of the sectors posted positive price return. Among the prominent sectors, bank and NBFI outperformed the market and the rests underperformed.
The banking sector posted the highest gain of 1.71 per cent, followed by NBFIs 0.72 per cent, engineering 0.25 per cent, pharmaceuticals 0.10 per cent and fuel and power 0.07 per cent among the major sectors.
Pharmaceuticals sector attracted highest market participation followed by engineering and bank sector.
A total number of 0.148 million trades were executed in the day's trading session generating turnover of Tk 620 billion with trading volume of 178.47 million securities.
Sheltech Brokerage, said, "Following last trading session, the prime index, DSEX, extended its gaining streak despite the IPO debut of Pacific Denims as banks continued to lead the market."
The gainers took a strong lead over the losers as out of 326 issues traded, 180 advanced, 107 declined and 39 remained unchanged on the DSE floor.
The newly-listed Pacific Denims dominated the turnover chart with 22.75 million shares worth Tk 627 million changing hands, followed by ACI Formulations, Central Pharmaceuticals, Islami Bank and Beximco.
ICB AMCL Second Mutual Fund was the day's top gainer, positing a rise of 8.0 per cent while Dulamia Cotton was the worst loser, slumping by 5.88 per cent.
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Banking sector registers highest gain
FE Report | Published: February 08, 2017 00:00:00 | Updated: February 01, 2018 00:00:00
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