Stocks end six-day losing streak riding on banking shares

Staff Correspondent | Published: 02:23, Sep 29,2017

 
 

Dhaka stocks returned to positive on Thursday, the last trading session of the week, after being on the decline for six trading sessions amid volatile trading, mainly due to rise in share prices of some large capitalised scrips, especially the banking shares.
The key index of Dhaka Stock Exchange, DSEX, finished at 6,092.84 points, adding 0.22 per cent or 13.51 points after declining 157 points in last six trading sessions.
Of the 331 companies and mutual funds traded, 131 advanced, 160 declined and 40 remained unchanged.
Amid volatile trading, the market finished positive on the day amid some bargain hunting during the last one-and-a-half hour, stockbrokers said.
Although the prices of most traded scrips fell, the market finished positive mainly due to increase in share prices of some large capitalised scrips riding on bargain hunting by a section of investors, they said.
Among the major sectors, banking, non-bank financial institutions and cement were the large capitalised sectors that supported a positive ending of the session with 1.73 per cent, 0.35 per cent and 0.57 per cent gains respectively on an average.
On the other hand, housing sector was the worst sufferer of the day with 2.53 per cent decline, while energy, information technology and leisure sector lost above one per cent on an average.
Turnover on the bourse, however, declined to Tk 624.83 crore from that of Tk 775.34 crore in the previous trading session, while the turnover on the bourse was above Tk 1,000 crore during the market surge.
‘Index fluctuated heavily throughout the trading day and closed green at 6,092.84 points,’ said LankaBangla Securities in its market commentary.
‘15 out of 20 sectors registered negative return on Thursday,’ it said.
DS30, the blue-chip index of DSE, fell by 0.02 per cent or 0.43 points, to close at 2,177.61 points.
The Shariah index, DSES, however, declined to 1,345.86 points, shedding just 0.32 points or 4.40 points.
Shahjalal Islami Bank-led the turnover chart on the day with its shares worth Tk 36.91 crore changing hands.
Uttara Bank, Jamuna Bank, National Bank, Premier Bank, EXIM Bank, IFAD Autos, Summit Power, LankaBangla Finance and Grameenphone were other turnover leaders.
Dutch-Bangla Bank gained the most, adding 6.86 per cent, while Summit Power was the worst loser of the day, shedding 8.15 per cent.

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