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Moderate rise on investors' increased participation

FE Report | November 07, 2019 00:00:00

Dhaka bourse on Wednesday continued its upward trend for second consecutive session as major sectors witnessed investors' increased participation.

On the day, the broad index on Dhaka Stock Exchange (DSE) rose moderately as most of the sectors played market supportive role.

The market opened the session positively and the DSE broad index DSEX continued an upward trend for an hour.

After witnessing a marginal correction during mid session, the DSEX closed the session with a moderate rise riding on investors' increased participation.

At the end of the session, the DSEX settled at 4754.69 with a rise of 1.08 per cent or 51 points.

According to International Leasing Securities, the DSEX closed high as optimistic investors showed their buying appetite in many sectors.

"The bourse witnessed buying pressure from the opening of the session in most of the sectors which sustained throughout the session," said the International Leasing Securities.

Of the major sectors, bank, financial institutions, engineering, food and textile sectors stocks observed investors' fresh participation.

The shariah based index DSES advanced 0.73 per cent or 7.92 points to close at 1089.32.

The DS30 index comprising blue chip securities closed at 1654.19 with a rise of 1.04 per cent or 17.05 points.

Of 351 issues traded, 221 advanced, 81 declined and 49 were unchanged on the DSE.

The turnover stood at above Tk 3.85 billion which was 25.18 per cent higher than the transaction of the previous session.

Of the major sectors which witnessed price appreciation, bank advanced 1.3 per cent, engineering 1.0 per cent, fuel & power 0.2 per cent, pharmaceuticals & chemicals 0.3 per cent and textile 0.9 per cent.

Of the sectors which witnessed price correction, general insurance and tannery declined 1.0 per cent and 0.3 per cent respectively.

Investors' attention was concentrated mostly on engineering sector which grabbed 15.1 per cent of the market turnover followed by pharmaceuticals & chemicals 12.7 per cent, textile 12.4 per cent and bank 11.5 per cent.

According to EBL Securities, investors have shown their interest for sector specific stocks from bank, financial institution and food & allied sectors following the lucrative price level observed after recent corrections.

It also said investors accepted the securities regulator's decision on introduction of circuit breaker from the debut trading positively.

The Bangladesh Securities and Exchange Commission (BSEC) on Tuesday decided to apply circuit breaker from the debut trading to contain abnormal price hikes.

National Tubes topped the scrip-wise turnover chart with a value of Tk 151 million followed by BRAC Bank Tk 104 million, Generation Next Fashions Tk 96 million, LankaBangla Finance Tk 88 million and VFS Thread & Dyeing Tk 83 million.

Somarita Hospital was the number one gainer with a rise of 14.02 per cent to close at Tk 71.80 each.

Rahim Textile was the worst loser after declining 9.74 per cent to close at Tk 249 each.

On Wednesday, the benchmark index CASPI rose 1.15 per cent or 164.84 points to close at 14445.47 points on the Chittagong Stock Exchange (CSE).

Of 260 issues traded, 176 advanced, 55 declined and 29 were unchanged. The turnover stood at above Tk 195.62 million on the port city bourse CSE.

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