FE Report
The market turned around Thursday after losing in the last two sessions with turnover dipping below Tk 3.0 billion-mark as investors took position on large-cap stocks following positive earnings growth amid gloomy political outlook.
The market opened with a positive note, which sustain throughout the session. At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE) went up by 20.99 points or 0.44 per cent to close at 4,763.22 points.
The two other indices also ended in positive zone. The DS30 index, comprising blue chips gained 2.40 points or 0.13 per cent to close at 1,772.41 points. The DSE Shariah Index (DSES) advanced 4.11 points or 0.36 per cent to close at 1,130.91 points.
Turnover on DSE came down below Tk 3.0 billion-mark once again and amounted to Tk 2.96 billion, registering a decline of 13.45 per cent over the over the previous session's value of Tk 3.42 billion.
The investors' attention was mostly focused on power, pharma and engineering - the sectors that accounted for 15.2 per cent, 13.9 per cent and 13.6 per cent respectively of the day's total turnover.
"Opportunist investors went for buying spree from the opening of the session which slowed down in later and managed to close marginally higher," said International Leasing Securities in an analysis.
However, the market turnover failed to cross Tk 3.0 billion-mark as anxiety about market expectation sustained amid prolonged political deadlock, said the International Leasing.
IDLC Investments said: "Market responded positively to earnings growth despite gloomy forward outlook".
However, political fault lines continued to concern long-term investors and turnover remained muted throughout the session, said the merchant bank.
The port city bourse, Chittagong Stock Exchange (CSE) also closed marginally higher with its Selective Categories Index - CSCX - gained 36.40 points to close at 8,854.42 points.
Losers beat gainers 107 to 81, with 44 issues remaining unchanged at the port city bourse that traded 5.82 million shares and mutual fund units, turnover value of Tk 231.42 million.
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