FE Report
The market closed higher for the second running session Tuesday on large-cap stocks despite slight declined of investors' participation.
DSEX, the prime index of the Dhaka Stock Exchange (DSE) ended at 4,392.94 points, gaining 25.04 points or 0.57 per cent amid modest see-saw throughout the session.
The other two indices also closed positive. The DS30, comprising blue chips gained 3.71 points or 0.23 per cent to close at 1,614.38 points while the DSE Shariah Index (DSES) gained 2.35 points or 0.23 per cent to close at 1,000.75 points.
The market remained sluggish and pushed turnover to Tk 2.80 billion on DSE, which was 4.43 per cent lower compared to previous session's value of Tk 2.93 billion.
Market ended higher backing on large volume of trade on large-cap stocks, especially - banking and pharmaceuticals stocks, said LankaBangla Securities, in its regular market analysis.
Market turnover declined slightly as investors preferred to remain in safe side before final declaration of waiving tax on capital gain, said the stock broker.
"Amid all hope and uncertainty, market might have got a positive trigger as the government is set to continue tax benefit on dividend declaration for the publicly listed companies in the upcoming fiscal year (FY'15)," the stock broker added.
IDLC Investments said, "The previous day's sudden increase in Cash Reserve Ratio (CRR) by Bangladesh Bank (BB) was unattended by market".
Since consensus believe that, large pile of money in banking sector still remains idle. So, investors continued their buying mood of previous session, said the merchant bank.
"The declaration from the Bangladesh Bank (BB) to increase the Cash Reserve Ratio (CRR) by 50 basis points may have influenced the investors to remain cautious over the session," said International Leasing Securities.
Many investors remained inactive fearing large losses incurred in the recent down trend, said the International Leasing.
The gainers took a lead over the losers, as out of 296 issues traded, 183 advanced, 70 declined and 43 remained unchanged on the DSE floor.
Pharmaceuticals posted the highest gain - 0.87 per cent - followed by banks and fuel and power which gained 0.54 per cent and 0.50 per cent respectively. Food and allied sector closed 0.06 per cent higher. Mutual funds gained 0.6 per cent.
National Life Insurance declared 20 per cent cash and 38 per cent stock dividend, which left a positive impact on life insurance sector as a whole. Life insurance came in frontline amid the major sectors with 1.01 per cent gain.
After previous session's sharp gain, telecommunication was the biggest loser as the largest sector of the market retraced 1.19 per cent. NBFIs lost marginally by 0.04 per cent.
