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Pharma issues spur index to rise

FE Report | August 28, 2019 00:00:00

The Dhaka bourse on Tuesday bounced back to green zone breaking the losing streak of previous two sessions mainly riding on pharmaceuticals & chemicals sector.

On the day, the pharmaceuticals & chemicals observed investors' increased participation and helped the broad index of the Dhaka Stock Exchange (DSE) to close marginally higher.

The telecommunication sector also played a market supportive role amid price correction witnessed by some major sectors.

The market opened positively and the DSE broad index DSEX advanced by 20 points within 20 minutes.

Later, the DSEX displayed volatility for rest of the session as many investors reshuffled their portfolios with sector specific stocks.

At the end of the session, the DSEX settled at 5178.70 points with a marginal rise of 0.25 per cent or 12.93 points.

According to International Leasing Securities, the panicked investors liquidated their holding from bank, financial institutions and fuel & power sector stocks to escape further losses.

"The last hour buoyancy on lucrative price levels in telecommunication, pharmaceuticals, food & allied and engineering sectors helped the broad index to close marginally higher," said the International Leasing Securities.

The shariah based index DSES advanced 0.44 per cent or 5.28 points to close at 1198.34 points.

The DS30 index comprising blue chip securities closed at 1829.14 points with a rise of 0.52 per cent or 9.47 points.

Of 343 issues traded, 122 advanced, 174 declined and 47 were unchanged on the premier bourse DSE.

Of the large cap companies, the share price of Grameenphone advanced 2.39 per cent or Tk 7.5 to close at Tk 320.10 each.

The share price of MJL Bangladesh, however, declined 1.37 per cent or Tk 1.20 to close at Tk 86.40 each.

The turnover stood at above Tk 4.67 billion which was 4.60 per cent higher than the turnover of the previous session.

Of the major sectors which witnessed price appreciation, engineering advanced 0.8 per cent, pharmaceuticals & chemicals 1.3 per cent and telecommunication 2.0 per cent.

Of the sectors which witnessed correction, bank declined 0.3 per cent, financial institutions 0.4 per cent, fuel & power 0.6 per cent, mutual fund 0.7 per cent and travel & leisure 0.8 per cent.

Investors' concentration was concentrated mostly on pharmaceuticals & chemicals sector which grabbed 26.80 per cent of the market turnover followed by engineering 16.7 per cent, textile 8.5 per cent, and bank 7 per cent.

S. S. Steel was the number one gainer with a rise of 8.39 per cent or Tk 2.4 to close at Tk 30.80 each.

SEML FBLSL Growth Fund was the worst loser after declining 9.78 per cent or Tk 1.8 to close at Tk 16.60 each.

On Wednesday, the broad index of the Chittagong Stock Exchange (CSE) advanced 0.14 per cent or 22.68 points to close at 15824.14 points.

Of 248 issues traded, 85 advanced, 129 declined and 34 were unchanged.

The turnover stood at above Tk 235.54 million on the port city bourse CSE.

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