NBFI, pharma scrips keep stocks up for 6th day

Staff Correspondent | Published: 22:24, Oct 08,2017

 
 

Dhaka stocks inched up on Sunday, extending the gaining binge to the sixth session, as non-bank financial institutions and pharmaceuticals scrips surged while banks faced corrections.
DSEX, the key index of Dhaka Stock Exchange, increased by 0.05 per cent, or 3.18 points, to finish at 6,205 points.
The index gained 126 points in last six sessions.
Although the equity market gained 34 points within five minutes of the session, it moved downward rapidly soon after, ultimately closing the session flattened up.
The market went through an unstable session as investors were active on both sides of the trading fence, market operators said.
Although share prices of most of the scrips declined, the market ended positive mainly due to the strong upward move of some of the stocks, they said.
Investment Corporation of Bangladesh, Islami Bank, Square Pharmaceuticals and Beximco Pharmaceuticals led the market on Sunday.
The news reports that Beximco Pharma signed a memorandum of understanding to acquire 85.2 per cent shares of Nuvista Pharma prompted investors to purchase the company’s shares.
NBFIs and pharmaceuticals increased by 2.6 per cent and 1 per cent respectively that helped the market end positive, market operators said.
Moreover, media reports that the overseas investment at the DSE soared by 450 per cent in September compared with that of the previous month also promoted investors to remain in buying mood.
The bank shares retreated on the day, declining by 0.4 per cent after a surge in their share prices as investors shifted their focus to other sectors.
Cement, energy and telecommunication also declined by 1.3 per cent, 0.43 per cent and 0.4 per cent respectively.
Of the 332 companies and mutual funds traded, 181 declined, 117 advanced, and 36 remained unchanged.
Turnover at the bourse, however, declined slightly to Tk 1,054.24 crore from that of Tk 1,058.49 crore in the previous trading session.
‘The prime bourse of the country closed in the green zone as investors possessed positive attitude towards the market,’ said EBL Securities in its market commentary.
‘Investors’ sentiment regarding the capital market oscillated between optimism and vigilance in the current market scenario ahead of quarterly and yearly (June closing) earnings disclosure from the listed companies,’ it said.
DS30, the blue-chip index of the DSE, added 0.62 per cent, or 13.71 points, to close at 2,215.15 points.
Shariah index DSES advanced by 0.35 per cent, or 4.73 points, to finish at 1,354.65 points.
Islami Bank led the turnover chart on the day with its shares worth Tk 61.89 crore changing hands.
LankaBangla Finance, National Bank, EXIM Bank, Uttara Bank, Aamra Networks, United Commercial Bank, Premier Bank, IDLC Finance and IFAD Autos were other turnover leaders.
Northern Jute Manufacturing Company gained the most, adding 8.15 per cent, while Aamra Networks was the worst loser of the day, shedding 5.88 per cent. 

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