Investors remain \\\'watchful\\\' on DSE

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

Stocks closed flat in positive Monday after five days fall with slightly improvement in turnover as investors reshuffled their portfolios and remained 'watchful' amid few earning declarations.
The market acted volatile opening in red, however, large and mid-cap stocks added zing to the market in the last hour. Eventually, DSEX, the prime index of the Dhaka Stock Exchange (DSE) ended at 4,506.44 points, gaining only 1.67 points or 0.03 per cent.
The DS30, comprising blue chips gained 1.31 points or 0.07 per cent to close at 1,647.54 points. However, the DSE Shariah Index (DSES) lost 3.23 points or 0.32 per cent to close at 1,002.84 points.
The total turnover value amounted to Tk 3.68 billion on the DSE which was 11.58 per cent higher over the previous day's value of Tk 3.30 billion.
"The ongoing trend of the country's stock market was stalled. The investors were in buying mood as continuous price correction from the last week made the price of most of the scrips lucrative," commented International Leasing Securities, in its regular market analysis.
In fact, investors reshuffled their portfolio and remained 'watchful'. As a result, turnover condition improved a bit compared to previous session, said the International Leasing.
"After sluggishness at the beginning of trading session, market has gathered some momentum again after 5 days of down trend with benchmark index clutching 4,506 points," said LankaBangla Securities.
"Investors might have gauged some potential gain in market following to solid foreign investor flows and a more stable currency rate on the back of a narrowing current account deficit and record high Forex reserve of US$ 20.37 billion at the end of April 2014," said the stock broker.
Net foreign investment into the Dhaka bourse hit a new high of Tk 5.72 billion in April, 2014 as foreign fund managers considered the market lucrative for long-term investment due to low prices of fundamentally strong stocks, the stock broker added.
IDLC Investments said, "Recent shed offs of 198 points offered investors lucrative valuation at scrip level".
"News of increased foreign investment in bourse encouraged some investors came back in floor. But, panic didn't neutralize fully and kept investors 'watchful' amid few earning declarations. Resultantly, DSEX ended flat," said the merchant bank.
"Earning season is well underway, and following the rise of many large cap scrips, its worth highlighting that more good performance are yet to be expected," observed Zenith Investments.
The gainers took a strong lead over the losers as out of 295 issues traded, 178 gained, 81 declined and 36 issues closed unchanged on the DSE floor.
Among the large cap sectors, telecommunications gained the most with 1.74 per cent gain. Banks gained by 0.47 per cent while NBFIs closed absolutely flat. Pharmaceuticals, fuel & power and food & allied edged down with 0.95 per cent, 0.42 per cent and 0.35 per cent loss respectively.
Activities increased in the major bourse (DSE) where trade was up 4.14 per cent, but volume was down 2.23 per cent. A total number of 0.082 million trades were executed with 73.70 million securities of trading volume.
The total market capitalisation on the DSE stood at Tk 2,918.97 billion against Tk 2,917.98 billion in the previous trading session.
GP became the top turnover leader with shares worth Tk 205.62 million changing hands followed by Heidelberg Cement, Olympic Industries, Meghna Petroleum and Lafarge Surma Cement.
Paramount Textile was the day's highest gainer; posting a rise of 9.88 per cent while Information Services Ltd was the day's worst losers, slumping by 29.07 per cent following its no dividend declaration.
The port city bourse-Chittagong Stock Exchange (CSE) also edged flat in positive with its Selective Categories Index-CSCX gained 3.60 points to stand at 8,672.65 points.
Gainers beat losers 94 to 90, with 27 issues remaining unchanged at the port city bourse that traded 7.76 million shares and mutual fund units, turnover value of Tk 257.22 million.