Dhaka stocks opened New Year with a slight gain on Monday as a decline in the share prices of some large capitalised scrips including banks overshadowed the rise in the share prices of most of the traded scrips.
The Dhaka Stock Exchange extended its gaining streak to the fourth consecutive session, but the turnover at the bourse fell below Tk 400 crore on the day.
DSEX, the key index of the DSE, gained 0.15 per cent, or 9.89 points, to close at 6,254.41 points on the day. The index advanced by 94.89 points in last four trading sessions.
In line with the previous session, the market opened with bullish momentum, gaining 22 points within the first 10 minutes of the day’s trading, but the vibe did not sustain later.
Market operators said the market ended slightly up as the share prices of some of the banks plunged on the day.
The share prices of Islami Bank, City Bank and BRAC Bank slumped by 2.46 per cent, 1.88 per cent and 1.29 per cent respectively on the day.
Although most of the banks gained on the day, the average share prices of the sector declined by 0.5 per cent due mainly to a fall in the share prices of the three banks.
Out of the 30 traded bank scrips, 15 issues advanced, 12 declined and three remained unchanged.
Besides, food and cement also declined by 0.5 per cent and 0.3 per cent respectively.
The share prices of energy, non-bank financial institutions, telecommunication and pharmaceuticals, however, increased by 0.6 per cent, 0.32 per cent, 0.3 per cent and 0.2 per cent respectively that kept the market afloat for another session.
Among the prominent scrips, the share prices of Grameenphone, Bangladesh Export and Import Company and United Power surged on the day.
The market has been slow since the beginning of December as many investors remained on the sidelines to observe the market movement, market operators said.
The turnover at the DSE slumped to Tk 374.30 crore compared with that of Tk 628.04 crore in the previous session.
‘The capital bourse of the country started the year with winning session amid investors’ positive expectation,’ said EBL Securities in its daily market commentary.
Opportunity-seeking investors took fresh position on some sector specific stocks, it said.
Of the 335 companies and mutual funds traded, 185 advanced, 110 declined, and 38 remained unchanged.
DS30, the blue-chip index of the DSE, however, declined by 0.07 per cent, or 1.67 points, to finish at 2,281.55 points.
Shariah index DSES also increased by 0.05 per cent, or 0.75 points, to close at 1,391.41 points.
Lafarge Surma led the turnover chart on the day with its shares worth Tk 18.36 crore changing hands.
Paramount Textiles, Bangladesh Export Import Company, National Bank, Dragon Sweater, Alif Industries, Mercantile Bank and City Bank were the other turnover leaders.
Dragon Sweater increased most for the second day with a 9.94-per cent rise in its share prices, while Tung Hai Knitting was the worst sufferer, shedding 6.86 per cent.
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