Dhaka stocks inch up, ending five-day losing streak

Staff Correspondent | Published: 23:27, Nov 01,2016

 
 

Dhaka stocks inched up on Tuesday as a section of investors went for bargain hunting following a five-day market fall and month-ending on Monday.
The key index of Dhaka Stock Exchange, DSEX, inched up 0.10 per cent or 4.68 points, to close at 4,596.86 points after declining 101 points in last five trading sessions.
Breaking last five trading sessions’ negative trend, market started with a positive note with the bourse’s key index increasing around 15 points within first one hour of trading, stockbrokers said.
The bourse, however, lost the positive momentum afterward, resulting in marginal rise of DSEX, they said.
After the October closing on Monday, bargain hunting by a section of investors in the first one hour helped in availing shares at comparatively lower price. The market, however, failed to sustain the upward market trend till the end of the session as unimpressive earnings reports continued to hit the market one by one during the session, depressing overall market sentiment, stockbrokers said.
Of the corporate declarations, the board of directors of Samata Leather Complex and Dacca Dyeing and Manufacturing Company failed to issue any dividend for the entities’ shareholders.
On the sectoral front, energy shares passed another dull day with an average 0.68 per cent decline in share prices of the sector.
Apart from that, telecommunication and cement sectors recovered some ground with an average 1.44 per cent and 0.91 per cent rise in share prices.
DS30, the blue-chip index of the bourse, however, inched down to 1,731.02 points, shedding 0.13 per cent or 2.40 points.
The Shariah index, DSES, finished at 1,102.58 points, adding just 0.23 per cent or 2.54 points.
Of the 324 companies and mutual funds traded, 121 advanced, 151 declined and 52 remained unchanged.
Turnover of the bourse inched down to Tk 376.96 crore compared with that of Tk 389 crore in the previous trading session.
Quasem Drycells led the turnover chart with its shares worth Tk 15.24 crore changing hands.
Doreen Power, MJL Bangladesh, Bangladesh Building Systems, Fortune Shoes, Confidence Cement, First Scurrility Islami Bank, Argon Denims, Mithun Knitting and KDS Accessories were other turnover leaders.
Confidence Cement gained the most, adding 12.84 per cent, while Dacca Dyeing and Manufacturing was the worst loser, shedding 12.50 per cent. 

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