Bank shares help stocks rebound

Staff Correspondent | Published: 23:54, Aug 10,2017

 
 

Dhaka stocks rebounded on Thursday, the last trading session of the week after being on the negative in last two trading sessions mainly due to increased prices of banks’ shares.
The key index of Dhaka Stock Exchange, DSEX, finished at 5,901.80 points, adding 0.19 per cent or 11.67 points.
Although the prices of most traded scrips declined, the market managed to finish in the positive trajectory amid investors’ increased participation on the trading floor, said stockbrokers.
Increased share prices of some large capitalised scrips including banking and telecom shares helped the market to keep on the positive trajectory, they said.
Recent media reports on most of the banks’ increased earnings during the first half of the year 2017 might have encouraged investments on those stocks, said stockbrokers.
On Thursday, average price of banks’ shares increased by 0.80 per cent as share prices of 18 out of traded 30 banks increased, while 6 declined and rest 6 remained unchanged.
Increase in share prices of Grameenphone by 0.93 per cent or Tk 3.5 to Tk 380.10 from Tk 376.50 on the day also helped the market to keep afloat.
Besides, significant growth in export earnings in July also boosted investors’ confidence over the market, they said.
Country’s export earnings in the first month of financial year 2017-18 grew by 26.54 per cent to $ 3.20 billion from $ 2.53 billion in the same month of the FY 17.
On the other hand, average prices of textiles, non-bank financial institutions and energy shares declined by 0.7 per cent, 0.5 per cent and 0.3 per cent respectively.
Of the 332 companies and mutual funds traded, 115 advanced, 173 declined and 44 remained unchanged.
Turnover on the bourse also increased to Tk 961.92 crore compared with that of Tk 866.10 crore in the previous trading session.
DS30, the blue-chip index of DSE, increased 0.21 per cent or 4.05 points, to close at 2,125.71 points on Thursday.
The Shariah index of the bourse, DSES, finished at 1,314.53 points, adding 0.25 per cent or 3.28 points.
‘Index maintained its position below 5,900 points level for the first hour and then spiked up suddenly, exceeding 5,920 points level,’ LankaBangla Securities said in its market report.
‘Then index slowly came down and closed green at 5,901.81 points level,’ it said.
C&A Textiles led the turnover chart on the day with its shares worth Tk 60.50 crore changing hands.
Fortune Shoes, IFAD Autos, BBS Cables, City Bank, LankaBangla Finance, IFIC Bank, Grameenphone, Generation Next Fashions and Confidence Cement were other turnover leaders.
Rupali Bank gained the most on the day with a 9.94 per cent increase in its share prices, while Savar Refractories was the worst loser, shedding 7.92 per cent. 

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