Dhaka, Bangladesh (BBN)- Despite a bullish start, Bangladesh’s stocks at the twin bourses - Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) - saw a nominal gain on Sunday, the opening day of the week, market operators said.
Dhaka stocks edged higher on the day amid volatile trading throughout the session with improving turnover value as participation of investors’ increased.
The DSE opened with a positive mood, gaining 70 points within ten minutes upon resumption of day’s trading. But it began to decline on profit booking mainly in banking sector before edging only 7.85 points higher at close.
The benchmark General Index, the gauge of Dhaka Stock Exchange--- (DGEN), ended at 5,106.77, rising 7.85 points or 0.15 per cent. On Thursday it gained 78 points.
The broader All Shares Price Index (DSI) went up by 7.48 points or 0.17 per cent to close at 4,206.30. However, the DSE-20 Index comprising blue-chip shares lost 4.10 points or 0.10 per cent to close at 3,765.41.
“Though participation rose, decline of the heavyweight banking sector pulled DGEN down from its early gained, while moderate profit taking constrained upward pressure,” stated IDLC Incitements Limited.
However, turnover showed a rise as fresh fund entered the market, especially in state owned companies of fuel and power sector, it added.
The turnover value rose to BDT 6.80 billion, up by 30.26 percent compared to BDT 5.22 billion in the previous session.
However, most of the issues traded at the DSE lost in prices on the day. Out of 260 issues traded, 151 declined, 91 advanced while 18 remained unchanged.
A total of 113.82 million shares changed hands on the day against 92.05 million in the previous session. The trade deals also increased to 153,552 against Thursday’s 123,461.
The total market capitalization of the DSE stood at BDT 2,621.41 billion against BDT 2,614.47 billion in the previous session.
Among the major sectors, life insurance gained 4.78 percent; the most followed by engineering, telecommunications, textile and fuel and power sectors which gained 2.12 percent, 1.78 percent, 1.79 percent, and 0.88 percent respectively.
The heavyweight banking sector, however, lost 1.08 per cent.
Titas Gas topped continued to top the turnover chart with shares worth BDT 426.10 million changing hands.
The other turnover leaders were Jamuna Oil, Grameenphone, Lafarge Surma Cement, Peoples Leasing, Eastland Insurance, DESCO, MJL BD, Meghna Petroleum and BSRM Steels.
Information Services Network was the day’s highest gainer posting a rise of 9.78 percent.
It was followed by Aramit, Progressive Life Insurance, National Life Insurance, Meghna Life Insurance, Pravati Life Insurance, RD Food, Square Textile, Usmania Glass and Popular Life Insurance.
City Bank was the day’s worst loser followed by Uttara Bank, Islami Insurance Bangladesh, Northern Jute Manufacturing, Eighth ICB, Samata Leather, Kay and Que, EBL NRB Mutual Fund, Prime Finance First Mutual Fund and provati Insurance.
On the other hand, the CSE key index showed a gain of 135.18 points to stand at 9614.48, also at 11:30 am on the day.
At the CSE, 75 advanced, 108 suffered losses and 13 remained unchanged.
The CSE turnover stood at BDT 568.30 million as against BDT 533.70 million as against BDT 549.10 million recorded on Thursday and Wednesday respectively.
BBN/SSR/AD-09Apr12-9:30 am (BST)
