Stocks inch up on large cap cos

FE Team | Published: June 02, 2014 00:00:00 | Updated: November 30, 2026 06:01:00

FE Report
Stocks went a bit higher Sunday with turnover striking a 12-session high as investors went for buying spree on large cap stocks.
The market started with an upward trend and the positive trend continued till the closure. Eventually, DSEX, the prime index of the Dhaka Stock Exchange (DSE) ended at 4,448.57 points, gaining 18.09 points or 0.40 per cent.
The other two indices also closed higher. The DS30, comprising blue chips, gained 16.81 points or 1.04 per cent to close at 1,626.08 points. The DSE Shariah Index (DSES) also advanced 10.24 points or 1.04 per cent to close at 1,003.24 points.
The total turnover at DSE stood at Tk 3.76 billion, registering an increase of 16.40 per cent over the previous session's value of Tk 3.23 billion.
"As market was slow after recent early-year rally, particularly at higher valuation multiples, budgetary expectations was only enough to create little buzz across the bourse," IDLC Investments said, in its daily market analysis.
As the large cap stocks were more preferred, 10 turnover leaders commanded 45 per cent of the day's transaction, said the merchant bank.
Brokerage International Leasing Securities said despite this week's budget and the associated uncertainty, an optimistic sentiment was reflected among investors.
Zenith Investments, in an analysis, said much of the market's strength was generated from large cap stocks. It said the gradual rise in turnover volume is encouraging, indicating that money is being pumped up into the market again.
The movement of large cap stocks looks very promising for the future, as positive momentum of these shares is enough to keep the market healthy, said Zenith.
The losers, however, took a modest lead over the gainers as out of 295 issues traded, 139 declined, 125 advanced and 31 closed unchanged on the DSE floor.
Telecommunication gained the most among all sectors with 3.34 per cent gain lifted by GP and BSCCL, which gained 3.42 per cent and 2.35 per cent respectively.
The total market capitalisation on the DSE stood at Tk 2,907.58 billion against Tk 2,884.86 billion in the previous trading session.
GP was the top turnover leader with shares worth Tk 308.99 million changing hands, followed by Lafarge Surma Cement, Meghna Petroleum, ACI Limited and MJL BD.
ACI Limited was the day's highest gainer, posting a rise of 8.61 per cent while CMC Kamal was the day's worst loser, slumping by 11.39 per cent.
The port city bourse Chittagong Stock Exchange (CSE), however, closed flat with its Selective Categories Index - CSCX - lost 0.78 points to close at 8,468.21 points.