Stocks turn positive as investors focus on earning reports

Staff Correspondent | Published at 11:19pm on October 18, 2016

Dhaka stocks returned to positive on Tuesday after decline in the previous trading session as energy shares regained investors’ attention along with bank shares ahead of corporate declarations.
The key index of Dhaka Stock Exchange, DSEX, increased by 0.40 per cent or 18.91 points, to close at 4,711.85 points on Tuesday.
Investors, who were on the profit booking move in last trading session, increased purchasing, especially the bank and energy shares, resulting in a positive ending of the session after decline in last trading session, stockbrokers said.
Companies, which will announce annual dividend and third quarterly within a couple of days, got much focus on the day, they said.
Due to the reason, prices of energy and bank shares rose by 1.08 per cent and 0.87 per cent respectively.
Turnover of the bourse also increased to Tk 571.59 crore compared with that of Tk 456.71 crore in the previous trading session.
Of the 323 companies and mutual funds traded, 177 advanced, 98 declined and 48 remained unchanged.
‘Positive momentum prevailed throughout the trading session while DSEX added 18.9 points more in its fleet to close at 4,711.9 points,’ said IDLC Investments in its market commentary.
‘Activities improved significantly to grow total turnover by 25.20 per cent from that of yesterday to Tk 5.7 billion,’ it said.
‘During Tuesday, banks and fuel and power generated higher turnover, capturing Tk 0.9 billion and Tk 0.8 billion or 15.4 per cent or 14.1 per cent respectively of total trade value.
‘Stocks have moved mostly higher in early trading on Tuesday, more than offsetting the weakness seen in the previous session,’ said LankaBangla Securities in its market report.
‘Market showed a strong move early in Tuesday’s trading session led by the financial stocks. Market might be testing the 4700 mark in DSEX,’ it said.
DS30, the blue-chip index of DSE, finished almost flat at 1,755.15 points, adding just 0.03 per cent or 0.52 points.
The Shariah index of the country’s premier bourse, DSES, inched up 0.15 per cent or 1.76 points, to close at 1,117.84 points.
Doreen Power Generation and Systems led the turnover chart with its shares worth Tk 15.77 crore changing hands.
Singer Bangladesh, NBL, Titas Gas Transmission and Distribution Company, Power Grid Company of Bangladesh, IT Consultants, GSP Finance, LankaBangla Finance and Mutual Trust Bank were other turnover leaders.
Yeakin Polymer gained the most on the day with a 9.75 per cent rise in its share prices, while Modern Dyeing and Screen Printing was the worst loser, shedding 6.55 per cent.