DSEX crosses psychological barrier of 4,700 points

Staff Correspondent | Published: 22:03, Mar 16,2017

 
 

Dhaka stocks remained on an upward trajectory for the third trading session on Thursday with the key index of Dhaka Stock Exchange, DSEX, crossing the psychological barrier of 4,700 points amid investors’ optimistic participation on the trading floor in the second half of the session.
The DSEX increased by 0.29 per cent, or 16.96 points, to close at 5,701.27 points on Thursday, the last trading session of the week.
The index for the last time crossed 5,700 points on January 24 this year with it reaching its all-time high at 5,708 points after the launch of the index in January 28, 2013 with 4,055 points.
The market started on a positive note but faced increased share sales when the benchmark index of the bourse crossed 5,700-points mark within the first 45 minutes of trading, stockbrokers said.
Amid a section of investors’ increased share sales, the market turned negative within the next 30 minutes of trading, they said.
The DSEX, however, started to recover the losses afterwards when bargain hunters and optimistic investors started to grab shares at comparatively lower prices, resulting in a positive ending of the session, stockbrokers said.
On the sectoral front, although banks shares led by IFIC Bank dominated the trading floor, cement and energy shares were the market movers of the day.
The prices of 12 out of the traded 18 energy shares increased on the day, while four declined and the rest two remained unchanged.
Of the 327 companies and mutual funds traded, 163 advanced, 109 declined and 55 remained unchanged.
Turnover at the bourse, however, remained almost same, Tk 964 crore, as it was in the previous trading session.
DS30, the blue-chip index of the bourse, increased by 0.40 per cent, or 8.29 points, to close at 2,059.63 points.
The Shariah index, DSES, inched up to 1,311.07 points, adding 0.09 per cent or 1.26 points.
IFIC Bank led the turnover chart with its shares worth Tk 37.67 crore changing hands. The share prices of the bank increased by 4.48 per cent on the day.
The Bangladesh Securities and Exchange Commission on Wednesday approved IFIC Bank’s rights shares worth Tk 563 crore.
LankaBangla Finance, Quasem Drycells, Ratanpur Steel Re-Rolling Mills, BEXIMCO, Beximco Pharmaceuticals, Union Capital, BRAC Bank, IPDC Finance and NBL were the other turnover leaders.
Union Capital gained the most with a 7.24-per cent rise in its share price, while RN Spinning Mills was the worst loser, shedding 13.35 per cent.

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