Stocks gain with better turnover

FE Report | Published: May 22, 2015 00:00:00 | Updated: November 30, 2026 06:01:00

Stocks turned around Thursday after previous day's marginal correction, with benchmark index of the Dhaka Stock Exchange (DSE) hitting seven weeks high.
The market opened positive and remained upbeat throughout the session amid modest volatility. DSEX, the prime index of the DSE, finished at 4,483.28 points, gaining 27.70 points or 0.62 per cent.
DS30 index, comprising blue chips, gained 4.55 points or 0.27 per cent to close at 1,683.43 points. However, DSES index closed flat with losing 0.43 points or 0.03 per cent to end at 1,082.92 points.
Turnover, the major market indicator, also remained promising reaching a robust total of Tk 7.78 billion, which was 0.40 per cent lower than the previous session's Tk 7.82 billion.
"The market returned to its gaining streak after previous day's marginal correction amid growing optimism," said International Leasing Securities, a stock broker, in an analysis.
However, strong buying pressure slowed down later as several investors preferred to book profit at the fag end of the session, said the International Leasing.
Majority of investors' attention was focused on a few fuel and power issues, while price hike in banking and financial stocks helped the market spur in indices, the stock broker said.
The stock broker noted that investors' participation remained satisfactory, boosted by participation from institutional investors amid the stable gaining streak and interest rate cut on savings certificates.
IDLC Investments, merchant bank, said, the session was bullish from the very start of the day and DSEX crossed 4,500 points in the early hours.
However, investors remained sceptic about whether gaining momentum would continue, given that the index had recovered around 500 points in just 12 past sessions.
Resultantly, some sell off took place, making DSEX settle at 4,483.3 points with 27.7 points gain, said the merchant bank.
"Market depth of the day proved strong liquidity level in market with 171 advancing stocks against 114 declining stocks, while only 22 remained unchanged," said LankaBangla Securities, a stock broker.
Among large-cap sectors, NBFIs registered the highest gain of 2.50 per cent. Banks also witnessed a significant 1.93 per cent gain. Power went up by 0.75 per cent. Food and allied and pharmaceuticals closed 0.07 per cent and 0.05 per cent up.
Telecommunication ended 0.89 per cent lower. Cement also moved down by a meager 0.26 per cent.
Gainers took a modest lead over the losers as out of 307 issues traded, 171 advanced, 114 declined and 22 remained unchanged on the DSE floor.
Activities decreased in the major bourse where volume and trade were down by 2.55 per cent and 1.16 per cent respectively. A total number of 0.172 million trades were executed in today's trading session with trading volume of 217.50 million securities.
United Power Generation and Distribution Company emerged as the day's top turnover leader with shares of Tk 536.54 million changing hands followed by KPCL, MJL BD, RAK Ceramics and BSSCL.
Power Grid Company was the day's best performer, posting a rise of 9.94 per cent while IFIC Bank was the day's worst loser, slumping by 10.53 per cent.
The port city bourse Chittagong Stock Exchange (CSE) also closed marginally higher with its Selective Categories Index - CSCX - gained 48.55 points to close at 8,458.98 points.
Gainers beat losers 121 to 101, with 17 issues remaining unchanged at the port city bourse that traded 22.40 million shares and mutual fund units, turnover value of Tk 648.39 million.
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