Dhaka stocks inch up for 2nd day amid cautious trading

Dhaka stocks inched up for the second day on Tuesday as investors remained cautious amid rising political activities ahead of the 11th parliamentary elections.
DSEX, the key index of Dhaka Stock Exchange, added 0.17 per cent, or 9.29 points, to close at 5,288.54 points on Tuesday after gaining 3.01 points in the previous session.
Market operators said DSEX closed the session with a brief gain as investors remained cautious before the national election scheduled for December 30.
The market lost four points over last 18 trading sessions in November as investors hesitated to take investment decisions in the period, they said.
Investors were observing the political developments before the polls, they said.
Average share prices of bank, non-bank financial institution and energy sectors dropped by 0.18 per cent, 0.17 per cent and 0.12 per cent respectively.
The market gained for the second day as some investors went on fresh investments at the bearish market as they anticipated that the market would recover after the national elections, stockbrokers said. Average share prices of telecommunication, textile and pharmaceutical sectors advanced by 1.17 per cent, 1.16 per cent and 0.78 per cent respectively.
Among the large capitalised scrips, Grameenphone, Khulna Power Company and BRAC Bank contributed most to the positive ending on Tuesday. The textile sector led the turnover chart on the day by holding 23 per cent of the day’s turnover.
The turnover on DSE increased to Tk 638.85 crore on Tuesday compared with that of Tk 615.74 crore in the previous trading session.
Of the 336 companies and mutual funds traded on Tuesday, 133 declined, 159 advanced and 44 remained unchanged. DSE blue-chip index DS30 also gained 0.23 per cent, or 4.31 points, to close at 1,862.03 points.
Shariah index DSES added 0.17 per cent, or 2.14 points, to finish at 1,226.37 points.
Khulna Power Company led the turnover leaders with its shares worth Tk 37.17 crore changing hands.
Berger Paints Bangladesh, United Power Generation Company, Saiham Cotton, Western Marine Shipyard, Intech Limited, Shepherd Industries, SK Trims, Pharma Aid and IFAD Autos were the other turnover leaders.
ML Dyeing gained the most on the day with a 9.90-per cent increase in its share prices, while Atlas Bangladesh was the worst loser, shedding 11.25 per cent.
Source: http://www.newagebd.net

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