FE Report
Most sectors witnessed positive return last week that ended Thursday.
Telecommunication sector with significant financial firepower posted the highest return.
Of the 19 sectors listed with the prime bourse, except corporate bonds, debenture and treasury bonds, the market cap of 12 sectors posted positive return while seven faced mild correction, according to weekly analysis of the Dhaka Stock Exchange (DSE) and LankaBangla Securities.
Market operators said the telecommunication sector witnessed the highest gain riding on largest market cap listed company's share Gramemenphone (GP).
The heavyweight telecom sector, which comprised two issues, posted a 5.54 per cent gain as GP's share price soared 6.0 per cent to settle at Tk 510.70 each on Thursday. It is also the highest closing price since its listing with the bourses in 2009.
"Fundamentally strong issues like GP continued to attract investors who are anticipating positive earnings and dividend declarations ahead," said an analyst, seeking anonymity.
The share price of the leading mobile operator GP kept advancing, soaring 7.83 per cent or Tk 37.10 each in the past eight consecutive sessions while its share traded Tk 300 and Tk 512 in the last one year.
"A meeting of the board of directors of GP will be held tomorrow (January 29) to consider, among others, audited financial statements of the company for the year ended on December 31, 2017, which also attracted the investors," said a stockbroker.
The prices of Bangladesh Submarine Cable Company also gained 1.0 per cent to close at Tk 104.70 on Thursday.
Among other major sectors, food & allied also gained 3.60 per cent as heavyweight issues of the sector witnessed positive return.
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