Dhaka stocks inch up for 2nd day

Dhaka stocks inched up for the second day on Wednesday as a section of investors continued buying shares after a seven-day fall amid polls-centric tensions.
DSEX, the key index of Dhaka Stock Exchange, added 0.17 per cent, or 8.96 points, to close at 5,242.56 points on Wednesday after gaining 15.58 points in the previous session.
Before the two-day gains, the DSEX had lost 143 points in the previous seven sessions.
The DSEX went through a choppy session and finished the day with a brief gain as a section of investors continued buying shares to avail lower prices of stocks after the recent fall, market operators said.
They said that the institutional investors came forward to inject funds in the bearish market with an expectation of better market after the national election scheduled for December 30.
‘The market started with an optimistic vive and continued till the end of the session with slight volatility as opportunistic investors opted to take positions for re-establishing their portfolios with lucrative scrips,’ said EBL Securities in its daily market commentary.
Average share prices of food, engineering, textile and non-bank financial institution advanced by 1.3 per cent, 0.8 per cent, 0.7 per cent and 0.6 per cent respectively.
Trading at the market was choppy as many investors hesitated to invest as the market remained volatile for a couple of weeks amid polls-centric cautiousness, market operators said.
Besides, attacks on leaders and activists of opposition political parties during their electioneering in favour of their candidates in the 11th parliamentary elections at different places in the country made investors nervous, they said.
The turnover on DSE inched up to Tk 397.93 crore on Wednesday compared with that of Tk 334.09 crore in the previous trading session.
Average share prices of telecommunication, bank and pharmaceutical sectors decreased by 0.8 per cent, 0.3 per cent and 0.1 per cent respectively.
The textile sector led the turnover chart on Wednesday by holding 16.5 per cent of the day’s total turnover.
Among the large capitalised scrips, a plunge in share prices of Grameenphone, Square Pharmaceuticals, BRAC Bank and United Power Generation Company capped the gains on the day.
Of the 336 companies and mutual funds traded on Wednesday, 209 advanced, 78 declined and 54 remained unchanged.
DSE blue-chip index DS30, however, shed 0.38 per cent, or 7.16 points, to close at 1,836.24 points.
Shariah index DSES lost 0.02 cent, or 0.31 points, to finish at 1,204.88 points.
Square Pharmaceuticals led the turnover leaders with its shares worth Tk 15.69 crore changing hands.
United Power Generation Company, BRAC Bank, JMI Syringes and Medical Devices, IFAD Autos, Intech Limited, Meghna Life Insurance Company, Daffodil Computers, Khulna Power Company and Far East Life Insurance Company were the other turnover leaders.
Rupali Life Insurance gained the most on the day with a 9.94-per cent increase in its share prices, while Anlima Yarn Dyeing was the worst loser, shedding 6.72 per cent.
Source: http://www.newagebd.net

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