Dhaka stocks inch up amid rise in turnover

Staff Correspondent | Published: 00:19, Nov 11,2016

 
 

Dhaka stocks inched up on Thursday amid rise in turnover as investors, who were cautious in the previous trading session, returned to the trading floor as did investors in the global markets.
The key index of Dhaka Stock Exchange, DSEX, finished at 4,677.13 points, adding just 0.12 per cent or 5.87 points after declining 19 points in last trading session.
Overcoming last trading session’s cautiousness, market returned to positive on the day mainly due to bargain hunting moves of the investors, stockbrokers said.
Key indices of the country’s premier bourse had declined on Wednesday as did the global markets after the victory of Republican candidate Donald Trump in US presidential election held on November 8.
Global market rebounded on Thursday after president-elect Trump stepped back from his tough rhetoric in his victory speech.
The Dhaka market started positive on the day with its key index increasing by 21 points within first one-and-a-half-hour of trading. The market, however, lost the upward vibe afterward, finishing with just 5 points rise of DSEX.
Riding on investors’ better participation on the trading floor, turnover of the bourse also increased to Tk 645.95 crore on Thursday compared with that of Tk 554.95 crore in the previous trading session.
DS30, the blue-chip index of DSE, finished at 1,758.15 points, adding
just 0.09 per cent or 1.67 points.
Of the 320 companies and mutual funds traded, 135 advanced, 130 declined and 55 remained unchanged.
‘Stocks firmed up considerably in the morning owing to the positive earnings declarations, But it fell down in late afternoon and closed at 4,677 points,’ said LankaBangla Securities in its market report.
‘Most large cap stocks went up due to high buying pressure.
‘A few large cap scrips faced sales pressure at the end of the trading hours which brought down the index at a flat position,’ said LankaBangla.
‘The bourse ended positive, adding 5.9 points more to the prime index to close at 4,677.1 points,’ IDLC Investments said in its market commentary.
‘Blue chip index DS30 and Sariah compliant index DSES also followed the positive tone of the market, closing positive at 1,758.2 and 1,122.5 points, respectively,’ it said.
Apex Footwear led the turnover chart with its shares worth Tk 32.85 crore changing hands.
Confidence Cement, Bangladesh Building System, Shasha Denim, Square Pharmaceuticals, Eastern Housing, Doreen Power, Jamuna Oil, BSRM Limited and MJL Bangladesh were among other turnover leaders.

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