Stocks post marginal gain after plunge

Staff Correspondent | Published: 00:00, Oct 17,2018 | Updated: 22:56, Oct 16,2018

 
 

Dhaka stocks on Tuesday gained marginally after a sharp fall in the previous session as a section of investors went for bargain hunting share buying from power sector.
DSEX, the key index of Dhaka Stock Exchange, gained 0.28 per cent, or 15.47 points, to close at 5,399.88 points on Tuesday after losing 61.99 points in the previous session.
After a short gain in the beginning, the core index fell sharply and remained in the negative territory for most of the period of the session as investors were cautious on the trading floor, market operators said.
The market, however finished with modest gain as a section of investors went for bargain hunting share purchasing at the end of the session, they said.
Average share prices of energy, engineering, textile and pharmaceuticals advanced 0.76 per cent, 0.75 per cent and 0.35 per cent respectively.
The financial sectors posted mixed results as bank gained by 0.08 per cent and non-bank financial institution dropped by 0.54 per cent on the day.
Among the prominent scrips, surge in share prices of Khulna Power Company, United Power Generation, Summit Power and Olympic Industries helped the market to gain on the day.
Market operators said that after a sharp fall on Monday over the increase in political activities surrounding the national elections, investors remained cautious on Monday.
The investors were assessing political risk factors surrounding the political developments before the next general elections due to be held by January 28, 2019.
The turnover on DSE dropped further to Tk 492.52 crore on Tuesday compared with that of Tk 493.93 crore in the previous trading session.
Beside loss of NBFIs, average share prices of cement and telecommunication dipped by 0.7 per cent each.
Of the 336 companies and mutual funds traded on Tuesday, 152 declined, 137 advanced, and 49 remained unchanged.
DS30, the blue-chip index of DSE, added 0.17 per cent, or 3.25 points, to close at 1,903.17 points.
Shariah index DSES gained 0.48 per cent, or 6.00 points, to finish at 1,254.18 points.
Khulna Power Company led the turnover chart with its shares worth Tk 38.32 crore changing hands.
Summit Power, United Power Generation Company, Active Fine Chemicals, VFS Thread Dyeing, Square Pharmaceuticals, Silva Pharmaceuticals, BBS Cables, Intech Limited and Simtex Industries were the other turnover leaders.
Legacy Footwear gained the most on the day with a 9.96-per cent increase in its share prices, while Reliance Insurance was the worst loser, shedding 7.59 per cent.

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