Last trading day before Eid sees upward trend

FE Report | Published: July 25, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

The last trading day ahead of Eid vacation closed higher Thursday with turnover improved slightly as investors went for buying spree on large cap stocks amid optimism.
The market opened with a positive note and the upward trend continued till the market closure. Eventually, DSEX, the benchmark index of the Dhaka Stock Exchange (DSEX) ended at 4,427.15 points, gaining 38.46 points or 0.87 per cent.
The DS30, comprising blue chips gained 24.47 points or 1.52 per cent to close at 1,626.52 points. The DSE Shariah Index advanced 11.42 points or 1.15 per cent to close at 1,004.66 points.
Investors' participation increased slightly, holding total turnover above Tk 3.0 billion level for the third running session and amounted to Tk 3.39 billion which was 6.50 per cent higher over the previous session's value of Tk 3.18 billion.
"Closing session ahead of Eid-ul-Fitr stepped up with investors' focus on large cap stocks," commented LankaBangla Securities, in its regular market analysis.
Coupled with improved HY earning disclosures, monetary policy statement (MPS) expectations and favorable prices at scrip-level acted as the core catalysts behind day's upturn, said the merchant bank.
Scrip-wise movements were significant, as several companies declared earnings on the day, it said.
LankaBangla Securities, said: "Market ended in the green zone backed by strong earnings registered by corporate entities in Q2".
Market turnover was also up by 6.50 per cent, indicating heightened level of participation by investors, said the stock broker.
"The market closed on a positive note before the Eid festival break amid price increment of most of the issues across the bourse," said International Leasing Securities.
Among the large cap - GP, Square Pharma, Lafarge Surma Cement, Shahjibazar Power and FAR Chemical grabbed most of the investors' attention throughout the session, said the International Leasing.
The gainers took a lead over the lowers as out of 299 issues traded, 199 advanced, 74 declined and 26 remained unchanged on the DSE floor.
Most of the sectors performed well. Among the major sectors - telecommunication witnessed a phenomenal gain of 3.13 per cent -- thanks to GP the largest cap stock which gained 3.3 per cent alone.
Pharmaceuticals, fuel and power and food and allied sectors closed 0.97 per cent, 0.73 per cent and 0.71 per cent higher respectively. Banks and NBFIs also gained 0.46 per cent and 0.65 per cent respectably.
GP was the most traded stock with shares worth Tk 595.50 million changing hands followed by Beximco, Lafarge Surma Cement, Shahjibazar Power and Padma Oil.
Top ten stocks in turnover chart captured 55.33 per cent of the day's activities, while GP led the chart, with telecommunication, fuel and power and pharmaceutical sectors accounted for 18.57 per cent, 16.09 per cent and 13.44 per cent respectively of the day's total turnover.
Shahjibazar Power was the day's highest gainer, posting a rise of 9.92 per cent while Savar Refractories was the day's worst loser, slumping by 9.16 per cent.
The port city bourse, Chittagong Stock Exchange (CSE) also closed higher with its Selective Categories Index - CSCX - gained 60.07 points to close at 8,381.14 points.
Gainers beat losers 93 to 75, with 40 issues remaining unchanged at the port city bourse that traded 17.16 million shares and mutual fund units, turnover value of Tk 377.26 million.