On the back of assurance from the chief of the country’s securities regulatory body, all listed mutual funds, for the first time, witnessed a price surge on Sunday.
In a webinar titled 'Institutional Role in Sustainable Financing', the BSEC chairman Prof. Shibli Rubayat Ul Islam laid importance on increasing the size of the country's MF industry.
On Sunday, all listed mutual funds (MFs) closed green and the sector saw the highest price appreciation on the DSE.
Broad index of Dhaka bourse on Sunday closed marginally higher amid mixed performance of major sectors.
On the day, turnover value declined marginally compared to previous session following day-long volatility observed in movement of broad index.
The market opened the day's session positively and soon later the DSEX, broad index of Dhaka Stock Exchange (DSE), failed to continue the upward trend.
The DSEX displayed ups and downs till mid session and investors' participation became stronger before closure of the session.
At the end of the session, the core index settled at 7367.99 points with a rise of 0.34 per cent or 25.03 points.
Market operators said Dhaka stocks rebounded to the green after a single session of profit booking sell pressure as the bargain hunters showed their buying appetite especially on mutual fund (MF) sector.
They said investors showed interest on MFs as the chairman of the securities regulator on Saturday told a webinar that the funds are performing well.
He also all measures will be taken to improve the performance of fund managers to help achieve desired grow of the industry.
On Sunday, the Shariah based index DSES advanced 0.04 per cent or 0.74 point to close at 1596.53 points.
DS30 index comprising blue chip securities closed at 2765.78 points with a loss of 0.5 per cent or 1.60 points.
"Following the previous day's modest correction, the market opened higher and continued till the end but observed some sell pressure during the session," said a market review of International Leasing Securities.
Of 376 issues traded, 241 advanced, 123 declined and 12 were unchanged on the premier bourse DSE on Sunday.
On the day, the DSE posted a turnover of Tk 19.62 billion which was 21.39 per cent less than the turnover o previous session.
Of total turnover, Tk 511 million came from transactions executed in block board.
Of major sectors which saw price appreciation, bank advanced 1.5 per cent, mutual fund 5.1 per cent, textile 3.3 per cent, engineering 0.4 per cent and financial institutions 0.1 per cent.
Of the sectors which witnessed price correction, fuel & power declined 0.5 per cent, telecommunication 0.6 per cent, travel & leisure 3.3 per cent and services & real estate 1.6 per cent.
Investors' participation was concentrated mostly on textile sector which grabbed 15 per cent of the market turnover followed by pharmaceuticals & chemicals 13.3 per cent, fuel & power 12.8 per cent, bank 10.3 per cent and engineering 10.1 per cent.
LafargeHolcim Bangladesh topped the scrip wise turnover chart with a value of Tk 1.29 billion followed by IFIC Bank Tk 1.0 billion, Power Grid Company of Bangladesh Tk 980 million, Beximco Tk 674 million and Orion Pharma Tk 654 million.
Far East Knitting & Dyeing Industries was the number one gainer with a rise of 34.64 per cent or Tk 6.20 to close at Tk 24.10 each.
There will be no price limit on the trading of the shares of Far East Knitting on Sunday following its corporate declaration.
Sonali Paper & Board Mills was the worst loser after declining 9.39 per cent to close at Tk 488.20 each.
CASPI, the benchmark index of Chittagong Stock Exchange (CSE), on Sunday advanced 0.34 per cent or 74.68 points to close at 21515.99 points.
Of 314 issues traded, 189 advanced, 106 declined and 19 were unchanged and the port city bourse CSE posted a turnover of Tk 818.81 million.
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