Dhaka stocks begin week downbeat
Dhaka stocks inched down for the second day on Sunday as a section of investors continued selling shares of Grameenphone and financial companies to book some profits and some others took fresh positions on sector-specific scrips.
DSEX, the key index of Dhaka Stock Exchange, shed 0.13 per cent, or 7.46 points, to close at 5,410.81 points on Sunday after losing 4.38 points in the previous session.
The market opened on positive note but moved downward soon after and finished in the negative territory as investors were active on both sides of the trading fence, market operators said.
They said that a section of investors went on with selling shares to book quick gains after a market surge in last week while others continued investing at a market observing better trend at the market.
The average share prices of non-bank financial institutions, telecommunication and banks declined by 1.2 per cent, 1.0 per cent and 0.7 per cent respectively on investors’ portfolio reshuffling, they said.
Out of the 30 traded bank scrips, 22 declined, four advanced and four remained unchanged while out of the 23 traded NBFIs, 16 declined, five advanced and two remained unchanged on Sunday.
A fall in share prices of Grameenphone, Square Pharmaceuticals and Investment Corporation of Bangladesh weighed on the market on the day.
Before the two days’ mild corrections, the DSEX had gained 80 points in the previous four sessions after market regulator Bangladesh Securities and Exchange Commission assured the market intermediaries of taking initiatives to keep the market stable.
DSEX lost more than 4 per cent or 231 points in the month of September amid political worries ahead of the national elections.
The turnover on DSE advanced to Tk 844.80 crore on Sunday compared with that of Tk 760.02 crore in the previous trading session.
The average share prices of energy, food, textile and engineering sectors also advanced by 2.2 per cent, 1.1 per cent, 0.9 per cent and 0.5 per cent respectively.
Of the 336 companies and mutual funds traded on Sunday, 183 advanced, 120 declined, and 38 remained unchanged.
DS30, the blue-chip index of DSE, however, gained 0.20 per cent, or 3.88 points, to close at 1,902.24 points.
Shariah index DSES added 0.51 per cent, or 6.41 points, to finish at 1,257.13 points.
Khulna Power Company led the turnover chart with its shares worth Tk 98.56 crore changing hands.
United Power Generation Company, BBS Cables, Active Fine Chemicals, Singer Bangladesh, IFAD Autos, Dragon Sweater, Nurani Dyeing, Confidence Cement and VFS Thread Dyeing were the other turnover leaders.
ML Dyeing gained the most on the day with a 9.95-per cent increase in its share prices, while and Meghna Cement Mills was the worst loser, shedding 8.87 per cent.
Source: http://www.newagebd.net