Stocks gain as expectation for earning disclosure flies high

FE Report | Published: July 10, 2015 00:00:00 | Updated: November 30, 2026 06:01:00

Stocks extended their gaining streak for the three consecutive sessions Thursday as optimistic investors took their positions.
The market opened on a positive note, which sustained throughout the session amid marginal volatility. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 20.18 points or 0.44 per cent to settle at 4,599.91.
The two other indices also closed in the positive zone. The DS30 index, comprising blue chips, rose 11.07 points or 0.62 per cent to end at 1,795.24. The DSE Shariah Index (DSES) advanced 7.35 points or 0.65 per cent to finish at 1,133.73.
Turnover, the most important indicator of the market, came down to Tk 4.77 billion, which was 3.44 per cent lower than the previous day's Tk 4.94 billion.
The participants kept their focus on engineering, pharmaceuticals and power sectors, which captured 20 per cent, 17 per cent and 14 per cent of the day's total turnover.
"Continued gaining spell coupled with positive expectation regarding forthcoming earning disclosures might be encouraging investors to take fresh position in stocks," said International Leasing Securities, a stockbroker, in an analysis.
The stockbroker noted that price appreciation in the telecommunication sector along with financial institutions and fuel power mainly helped the bourse's surge in indices despite heavy sales pressure in issues from pharma.
IDLC Investments, a merchant bank, said, "Gaining streak continued to the last session of the week and DSEX closed just below 4,600 points level at the end of the day's session".
"Investors maintained their participation in anticipation of solid half yearly and year-end declarations, due in coming weeks," said the merchant bank.
Turnaround in economy is expected by the investors in the mid-term, as political chaos rested and interest rate lowered, the merchant bank said.
LankaBangla Securities, a stockbroker, said, "Market remained in the green zone. However, throughout the day, profit-booking by the investors was clearly evident as the past few days' up-rally of the fundamentally sound, large-cap, multinational stocks stopped".
All large-cap sectors posted positive return except pharmaceuticals, which lost 0.59 per cent. In the financial sector, NBFIs and banks posted a gain of 1.52 per cent and 0.19 per cent respectively.
Telecommunication advanced by 1.83 per cent. Cement went up by 0.58 per cent. Power gained 0.45 per cent while food and allied registered a gain of 0.43 per cent.
The gainers took a modest lead over the losers as out of 316 issues traded, 169 advanced, 116 declined and 31 remained unchanged on the DSE trading floor.
Activities decreased on the major bourse, where trade and volume were down by 9.65 per cent and 4.67 per cent respectively. A total of 0.106 million trades were executed with trading of 124.06 million securities.
The market capitalisation on the DSE stood at Tk 3,265.91 billion against Tk 3,250.74 billion in the previous trading session.
GrameenPhone (GP) was the day's top turnover leader with shares worth Tk 294 million changing hands followed by IFAD Autos, KPCL, United Airways and ACI.
Aramit Cement was the day's best performer, posting 9.73 per cent rise while Uttara Finance was the day's worst loser, plunging by 14 per cent.
The port city bourse Chittagong Stock Exchange (CSE) also closed higher with its Selective Categories Index - CSCX - gained 29.36 points to close at 8,627.
Gainers beat losers, with 33 issues remaining unchanged on the port city bourse that traded 10.32 million shares and mutual fund units, turnover of Tk 330 million.
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