Stocks rise for 2nd day as bank, NBFI cheer continues

Staff Correspondent | Published: 22:37, Mar 22,2017

 
 

Dhaka stocks advanced for the second trading session on Wednesday as bank and non-bank financial scrips continued to get investors’ attention amid dividend centric-expectation.
The key index of Dhaka Stock Exchange, added 0.20 per cent or 11.45 points to finish at 5,736.30 points, the fresh highest after its launch with 4,055 points on January 28, 2013.
Market capitalisation of the bourse also increased to its all-time high to Tk 3,78,425 crore on Wednesday as share prices continued to rise.
In line with the last session, market started positive with the key index reaching its peak at 5,750 points during mid-day of the session and remained positive throughout the sessions, stockbrokers said.
The market, however, closed at 5,736 points due to investors’ reduced share purchasing during the second half of the day compared with first half, they said.
Non-bank financial institutions and banks continued to draw investors’ attention, dominating the market for another session on Wednesday with expectation for better dividend and return, they said.
Earnings and dividend declarations of most of the banks, which had already made their corporate report public, was satisfactory to the capital market investors, helping injection of more funds on the scrips, they said.
As a result of investors’ dividend-centric investments on those scrips, NBFIs and banks rose by 1.88 per cent and 0.53 per cent respectively during the session on an average.
Bank and NBFI sectors captured 32.5 per cent and 10 per cent of the day’s total turnover, extending the scrips dominance on the trading for another session.
On the other hand, engineering and energy sectors declined most by declining 0.50 per cent and 0.20 per cent respectively.
Turnover at the bourse rose marginally to Tk 1,290.38 crore compared with that of Tk 1,263.00 crore in the previous trading session.
Out of 329 companies and mutual funds traded, 141 advanced, 139 declined and 49 remained unchanged.
The blue-chip index of the bourse, DS30, also made all time high records to 2,077.13 up by 0.54 per cent, or 11.21 points.
The Shariah index, DSES, added just 1.00 points or 0.07 per cent, to finish at 1,301.43 points.
Bangladesh Export Import Company dominated the turnover chart with its shares worth Tk 46.51 crore changing hands.
AB Bank, City Bank, Islami Bank, One Bank, LankaBangla Finance, Ratanpur Steel Re-Rolling Mills, Beximco Pharmaceuticals, IFIC Bank and United Commercial Bank were other turnover leaders.
Delta Spinners was the day’s highest gainer, rising 5.78 per cent, while Western Marine Shipyard was the worst loser, shedding 4.63 per cent. 

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