Investors go for quick profit

The market ended flat with marginal gains Thursday amid choppy trading as investors went for quick profit after three consecutive positive sessions.

The prime index of the Dhaka Stock Exchange -- DSEX ended at 4,409.42 points, gaining 5.77 points or 0.13 per cent, hitting highest at 4,423.03 points and lowest at 4,381.98 points in the intra-day trading.

However, the other two indices closed negative. The DS30, comprising blue chips lost 2.74 points or 0.16 per cent to close at 1,616.57 points. The DSE Shariah Index (DSES) went down by 1.01 points or 0.10 per cent to close at 1,006.22 points.

The total turnover on DSE came down to Tk 3.03 billion, which was 10.35 per cent lower compared to previous session's value of Tk 3.38 billion.

"The momentum of the prime index of the DSE - DSEX slowed down as the investors went for short-term profit booking after three consecutive positive sessions," commented International Leasing Securities, in its regular market analysis.

The investors also took a sideline strategy in the last trading day of the week, which resultantly declined turnover, said the International Leasing.

LankaBangla Securities said, "Recent gains in the market can be called volatile. Only few fundamental stocks grasped the interest of investors, which reverted intraday loss in index to a meager gain in last trading hour".

Market resilience remained weak owing edginess hovering around the aftermath of post-budget economic condition on capital market, said the stock broker.

"Fiscal Year (FY) 2013-14 is closing to its end and the bourse observed June closing impact, lately," said IDLC Investments.

"Most of the individual investors started positioning on the hope of getting tax rebate on their income. Accordingly, they preferred selective lucrative issues, fundamentally as their safe investment," said IDLC Investments.

Market got closed to another consolidation, but advanced in the late afternoon converting modest losses into modest gains, said Zenith Investments.

"It was a relief to see that the market was able to avert the selling pressure, and maintained its uptrend intact, till the last day of the week," said the Zenith analysis.

The market breath is remained positive, as out of 294 issues traded, 152 advanced, 104 declined and 38 remained unchanged on the DSE floor.

Among the major sectors, NBFIs posted the highest gain -1.50 per cent - followed by food & allied which went up by 0.54 per cent.

The other large cap sectors retraced including telecommunications, fuel and power, banks and pharmaceuticals lost 1.41 per cent, 0.08 per cent, 0.06 per cent and 0.02 per cent respectively.

Activities decreased in the major bourse (DSE) where trade and volume were down by 2.85 per cent and 5.85 per cent respectively. A total of 0.083 million trades were executed with 79.51 million securities of trading volume.

The total market capitalization on DSE stood at Tk 2,894.54 billion against Tk 2,895.07 billion in the previous session.

Beximco Limited was the most traded stocks with shares worth Tk 240.85 million changing hands followed by Lafarge Surma Cement, GP, United Airwyas and Square Pharma.

The investors' concentration was mainly focused on pharmaceuticals, miscellaneous, textile and cement sectors, accounted for 13.94 per cent, 11.05 per cent, 10.93 per cent and 10.01 per cent respectively of the total turnover on DSE.

BD Thai Aluminum was the day's highest gainer, posting a rise of 7.76 per cent while Delta Life Insurance was the day's worst loser, slumping by 18.87 per cent.

The port city bourse, Chittagong Stock Exchange (CSE) also closed flat with its Selective Categories Index - CSCX - gained 0.06 points to close at 8,401.37 points.

Losers beat gainers 101 to 86, with 28 issues remaining unchanged at the port city bourse that traded 10.70 million shares and mutual fund units, turnover value of Tk 312.14 million.