Dhaka stocks rise on financial sector gains
Dhaka stocks on Sunday posted moderate gains, after falling in the previous two sessions, as some investors went on bargain hunting purchase of shares of the financial sector while others booked profit from the energy sector.
DSEX, the key index of Dhaka Stock Exchange, added 0.20 per cent, or 11.39 points, to close at 5,446.40 points on Sunday after losing 20.70 points in the previous two
sessions.
Market operators said that the investors continued with cautious trading on Sunday, like the previous two sessions, as they kept an eye on the political developments.
Trading began on Sunday with a brief downfall of DSEX, but it started to rise, gaining 35 points at one point of the day.
The index, however, finished with marginal gains as financial sector scrips rose while energy scrips dropped.
Average share prices of non-bank financial institutions and bank advanced 1.64 per cent and 1.55 per cent respectively.
Share prices of cement and textile sectors also increased on the day.
On the other hand, investors’ participations on the trading floor slowed with the fall in turnover as investors were cautious surrounding the political activities ahead of the national election, they said.
BNP, Jatiya Oikya Prakriya and Juktafront on Saturday launched new alliance Jatiya Oikya Front, demanding resignation of the government and dissolution of parliament before the national elections, and formation of polls-time neutral government through discussion with all political parties.
The turnover on DSE plunged to Tk 576.62 crore on Sunday compared with that of Tk 644.98 crore in the previous trading session.
Average share prices of miscellaneous, energy and engineering dropped 1.12 per cent, 1.02 per cent and 0.74 per cent respectively.
Among the large capitalised scrips, share prices of United Power Generation Company, Grameenphone and Khulna Power Company was the worse loser of the day.
Of the 336 companies and mutual funds traded on Sunday, 144 declined, 138 advanced, and 53 remained unchanged.
DS30, the blue-chip index of DSE, however, shed 0.14 per cent, or 2.83 points, to close at 1,922.92 points.
Shariah index DSES shed 0.25 per cent, or 3.22 points, to finish at 1,262.52 points.
Summit Power led the turnover chart with its shares worth Tk 71.48 crore changing hands.
Khulna Power Company, Shasha Denims, United Power Generation Company, Dragon Sweater, Nurani Dyeing, VFS Thread Dyeing, IFAD Autos, Silva Pharmaceuticals and Central Pharmaceuticals were the other turnover leaders.
Silva Pharmaceuticals gained the most on the day with a 10-per cent increase in its share prices, while Meghna Pet Industries was the worst loser, shedding 10 per cent.
Source: http://www.newagebd.net