Dhaka stocks gain for 5th day amid post-Eid thin trading

Staff Correspondent | Published at 12:05am on August 27, 2018

Dhaka stocks rose for the fifth day on Sunday as the trading at the Dhaka Stock Exchange resumed after a five-day closure due to Eid-ul-Azha and weekly holidays with a section of investors going for buying shares from other sectors selling off financial scrips for profits.
DSEX, the key index of the DSE, gained 0.46 per cent or 25.71 points, to close at 5,596.91 points on Sunday, hitting its highest in three and a half months.
The DSEX gained 217 points in last five sessions.
After a brief downward move in the beginning, the market began to increase that sustained until the end of the session as investors kept investing in the capital market with an expectation of better market prospect, market operators said.
They, however, said the investors’ participation was thin due to Eid hangover.
Eid-ul-Azha, one of the biggest religious festivals of Muslims, was celebrated across the country on August 22 and trading at the DSE remained closed in August 21-25 for Eid holidays and weekly holidays.
The turnover on the DSE slowed to Tk 420.24 crore on Sunday compared with that of Tk 445.32 crore in the previous trading session.
A section of investors speculated that the market would advance further ahead of the prime minister Sheikh Hasina’s visit to the commission on September 12 to attend its 25th anniversary ceremony, market operators said.
The recent surge also encouraged a section of investors to invest in the market, they said.
The average share prices of miscellaneous, pharmaceuticals, energy and textile advanced by 4.20 per cent, 1.39 per cent, 1.36 per cent and 1.09 per cent respectively.
On the other hand, the financial sectors dropped on Sunday on the investors’ profit-taking move after their surge in recent days.
The share prices of banks and non-bank financial institutions dropped by 1.31 per cent and 0.59 per cent respectively.
Out of the 30 traded bank scrips, 26 declined and just four advanced on Sunday.
Of the 335 companies and mutual funds traded, 200 advanced, 107 declined, and 28 remained unchanged.
DS30, the blue-chip index of the DSE, gained 0.69 per cent, or 13.61 points, to close at 1,961.77 points.
Shariah index DSES also added 1.16 per cent, or 14.70 points, to finish at 1,272.33 points.
Active Fine Chemicals led the turnover chart with its shares worth Tk 25.11 crore changing hands.
LankaBangla Finance, BBS Cables, United Power Generation Company,
National Housing Finance, Shepherd Industries, International Leasing and Financial Services, City Bank, KDS Accessories and IFAD Autos were the other turnover leaders.
Aziz Pipes gained the most on the day with an 8.43-per cent increase in its share prices, while National Life Insurance Company was the worst loser, shedding 9.76 per cent.