Dhaka, Bangladesh (BBN)- The prices of most of the stocks on Bangladesh’s two bourses edged higher on Sunday, the last trading session of the year as investors took position amid optimism.
The prime index of the Dhaka Stock Exchange (DSE) ended at 4,219.31, adding 14.17 points or 0.33 per cent as market went through volatility from the very beginning.
The port city bourse, the Chittagong Stock Exchange (CSE) also closed positive, with the CSE Category Index gained 29.12 points to close at 8,175.59.
Turnover value on the DSE rose to BDT 2.49 billion which was 9.69 percent higher compared to previous session’s BDT 2.27 billion.
The CSE turnover, however, declined to BDT 241.50 million against BDT 305.73 million in the previous trading session.
Out of 276 issues traded on the premier bourse, 162 advanced, 87 declined and 27 remained unchanged. In the CSE 95 advanced, 62 declined while 23 remained unchanged.
“With cloudy investment scenario and year-end in front, expectation driven movements were not much visible for individual scrips,” IDLC Investments said.
Banks dominated amid sectors, supported by a 46.25 percent boost in sectoral turnover.
Sectoral performance was more or less flat as in most cases turnover hasn’t changed that much. Insurance and fuel and power performed quite well on the day.
Engineering sector was the top gainer with 2.62 percent gain. Its turnover also went up by around 100 percent. Olympic and BSRM Steel did quite well with 6.61 percent and 3.19 percent price gains respectively.
In the fuel and power sector, power companies gained well including DESCO which gained 3.74 percent. Oil companies more or less suffered.
Insurance companies did well where a few of them got halted including Pragati Insurance. Textile took the second place in terms of turnover although it suffered a bit.
Among the major sectors, fuel and power was the big mover on the day, gaining 1.23 percent. Pharmaceuticals, banks and telecommunications also closed 0.57 percent, 0.23 percent and 0.01 percent higher respectively.
Beximco Limited continued as turnover leader with shares worth BDT 164.41 million changing hands, followed by United Airways Unique Hotel and Resorts and Beximco Pharma.
Reliance Insurance was the day’s highest gainer posting 9.46 percent rise while BIFC was the worst loser, plunging 6.84 percent.
BBN/SSR/AD-31Dec12-9:30 am (BST)