Bourses witness short-term profit on selective stocks

FE Report | Published: July 03, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

The market edged marginally lower Wednesday, the first trading day of the new fiscal year, as investors continued to book short-term profit on selective stocks.
The market started with a positive note, but late hour sale pressure wiped off early gain. Eventually, DSEX, the prime index of the Dhaka Stock Exchange (DSE) -- ended at 4,466.62 points, shedding 13.90 points or 0.31 per cent.
The other two indices also ended in negative. The DS30, comprising blue chips lost 7.44 points or 0.45 per cent to close at 1,637.31 points. The DSE Shariah Index (DSES) went down by 10.26 points or 1.00 per cent to close at 1,009.07 points.
Due to reduced trading hours for the holy month of Ramada, investors' participation dropped to Tk 2.48 billion, registering a decline of 36 per cent from previous session's value of Tk 3.87 billion.
"The first session of FY 2014-15 faced a hit from profit booking. Since, the tax rebate window closed in last trading session, flow of fund to the market squeezed," commented IDLC Investments, in its daily market analysis.
However, positive news on banks' H1 2014 operating earnings instigated some investors at the early part to position in banking sector, said the merchant bank.
"The investors stretched their cautious trading strategy finding no reinvigorating factors in the market to participate confidently into the market," said International Leasing Securities.
"Banking sector was up by 0.11 per cent as operating profit figure of banks for HY 2014 came out. Operating profits for most banks rose in the first half of the year due to the return of normalcy on the political front after a turbulent year," said LankaBangla Securities.
Primary figures from 15 commercial banks on Tuesday showed that their profits between January and June increased 10 per cent year-on-year to Tk 37310 million. By and large, bankers credited the stable political scenario for the rise in profits.
The losers took a lead over the gainers as out of 290 issues traded, 168 declined, 91 advanced and 31 remained unchanged on the DSE floor.
All the major sectors ended in red except food and allied and banks which gained 2.86 per cent and 0.11 per cent respectively.
NBFIs lost the most going down by 2.82 per cent - followed by telecommunication 1.42 per cent, pharmaceuticals 1.12 per cent and fuel and power 0.13 per cent respectively.
Activities decreased in the major bourse (DSE) where trade and volume were down by 12.44 per cent and 0.24 per cent respectively. A total of 0.065 million trades were executed with 70.44 million securities of trading volume.
The market capitalization on the DSE stood at Tk 2,928.25 billion against Tk 2,943.20 billion in the previous session.
Beximco Limited was the most traded stocks with shares worth Tk 313.52 million changing hands followed by GP, United Airways, Lafarge Surma Cement and Square Pharma.
Al-Haj Textile was the day's highest gainer, posting a rise of 9.99 per cent while Meghna Life Insurance was the day's worst loser, slumping by 15.44 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) closed mixed with its Selective Categories Index - CSCX - lost 2.15 points to close at 8,504.84 points.
Losers beat gainers 129 to 51, with 21 issues remaining unchanged at the port city bourse that traded 7.75 million shares and mutual fund units, turnover value of Tk 203.80 million.