Banks, NBFIs keep Dhaka stocks up for 2nd day

Staff Correspondent | Published: 23:45, Nov 16,2016

 
 

Dhaka stocks rose for the second trading session on Wednesday amid investors’ special focus on bank and financial scrips.
The key index of the bourse, DSEX, finished at 4,676.75 points, adding 0.25 per cent or 11.94 points.
Like the last trading session, investors continued with bargain hunting move to avail shares at comparatively lower price following decline in previous two trading sessions, stockbrokers said.
Apart from the bargain hunting move, investors were also focused on the banks and non-bank financial scrips ahead of the December-closing of the entities, they said.
As a result, prices of non-bank financial institutions’ and banks’ scrips increased by 1.22 per cent and 0.63 per cent respectively on an average, helping the market to keep afloat for another trading session.
Despite the rise in most energy scrips, average price of the scrips declined by 0.47 per cent.
On the other hand, share transactions of 28 companies will remain suspended on their record date for two-trading sessions following earnings announcements. Transaction of the companies will resume from the next trading session.
Turnover of the bourse, however, declined a bit to Tk 607.15 crore compared with that of Tk 646.56 crore in the previous trading session.
Of the 318 companies and mutual funds traded, 156 advanced, 121 declined and 41 remained unchanged.
DS30, the blue-chip index of the bourse, increased by 0.07 per cent or 1.23 points, to close at 1,753.80 points.
The Shariah index, DSES, inched up by 0.10 per cent or 1.19 points, to close at 1,119.67 points.
‘Market remained upbeat for the second consecutive session with active participation of investors,’ said LankaBangla Securities in its market report.
‘Mid and small cap stocks closed mostly higher as quarterly earnings season picked up,’ it said.
‘Some large cap defensive stocks also got buyer’s preference as to safeguarding the investors’ position against any volatility towards the year end,’ it said.
Shasha Denims led the turnover chart with its shares worth Tk 23.73 crore changing hands.
Bangladesh Building Systems, Quasem Drycells, Golden Harvest Agro Industries, ACME Laboratories, Square Pharmaceuticals, Orion Pharma, Eastern Housing, Bd Thai Aluminum and First Security Islami Bank were other turnover leaders.
Dragon Sweater and Spinning gained the most, adding 9.57 per cent, while Mozaffar Hossin Spinning Mills was the worst loser, shedding 8.07 per cent.

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