Stocks positive for 2nd day amid fresh rise of bank, NBFI shares

Staff Correspondent | Published: 23:08, Dec 06,2016

 
 

Dhaka stocks increased for the second trading session on Tuesday as investors continued with optimistic purchasing amid their fresh attention on banks’ and non-bank financial institutions’ scrips.
The key index of Dhaka Stock Exchange, DSEX, finished at 4,846.09 points, adding 0.20 per cent or 9.76 points.
Turnover of the bourse, however, declined a bit to Tk 795.36 crore compared with that of Tk 807.78 crore in the previous trading session.
The benchmark index of the bourse increased at 4,857 points adding 21 points within 48 minutes of the day’s trading. The market, however, lost the rising momentum afterwards but finished positive at the end of the session with just a marginal rise in DSEX, stockbrokers said.
Investors were optimistic regarding the market prospect as they found no issues that could immediately hinder the positive market momentum, they said.
Besides, gradual increase in share prices for last couple of months and investors’ participation on the trading floor, especially from high net worth individuals who were inactive for last couple of years due to the sluggish market vibe, were among the reasons behind the growing optimism, stockbrokers said.
Apart from that, resolution of banks’ over exposure problem with Bangladesh Bank’s policy support instead of selling any shares during this year was another important factor behind the bullish market vibe in recent times, they said.
On the sectoral front, prices of banks and NBFIs shares increased 0.65 per cent and 0.56 per cent respectively after facing some profit booking share sales during last week.
Of the 322 companies and mutual funds traded, 146 advanced, 127 declined and 49 remained unchanged.
DS30, the blue-chip index of DSE, increased marginally by 0.06 per cent or 1.10 points, to close at 1,785.47 points on Tuesday.
The Shariah index, DSES, finished at 1,152.18 points, adding just 0.04 per cent or 0.54 points.
Market continued the gaining streak and created again another new high for 2016, said LankaBangla Securities in its market commentary.
Most of the stocks of banks, food and allied, IT and paper and printing sectors were up while cement, services and real estate and travel and leisure sectors were among the biggest laggards, it said.
IFAD Autos led the turnover chart with its shares worth Tk 61.88 crore changing hands.
Bangladesh Building Systems, BRAC Bank, Shasha Denims, Argon Denims, Golden Harvest Agro Industries, Olympic Industries, BDCOM Oline, Square Pharmaceuticals and Quasem Drycells were other turnover leaders.
H.R. Textiles gained the most, adding 9.92 per cent, while Savar Refractories was the worst loser, shedding 6.46 per cent. 

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