• Monday, September 01, 2014

Stocks gain year-on-year, end the day in red

Star Business Report

Stocks gained 9.16 percent in fiscal 2013-14 amid a series of bearish trends caused by bouts of pre-election violence across the country. The average daily turnover was Tk 471 crore in the last fiscal year.
Healthy corporate declarations by listed companies and optimistic investors pushed the market into positives, analysts said.  Some new listings contributed to the index, they said.
The market gained despite tremendous setbacks caused by pre-election violence, IDLC Investments said.
Prices declined yesterday as investors sold shares and mutual fund units to book profits.
DSEX, the benchmark general index of the Dhaka Stock Exchange, fell 6.55 points or 0.15 percent to 4,480. The shariah index of the premier bourse, DSES, rose 2.17 points or 0.21 percent, to close at 1,019.34.
The market opened positive in the morning session, but surprisingly ended in the red zone as investors flocked to banking, power and pharma stocks to book profits, said LankaBangla Securities.
Intraday movement in the index was shaky as investors prompted to cash in on the gain of the last two trading sessions, the stockbroker said.


Turnover, one of the most important indicators of the market, declined 0.75 percent to Tk 387 crore, compared to the previous day.
A total of 0.74 lakh trades were executed with 7 crore shares and mutual fund units changing hands on the Dhaka bourse.
The losers took a strong lead over gainers with 161 to 98. Of the 289 issues that traded on the DSE, 30 issues remained unchanged.
The food and allied sector accounted for 31.99 percent of the day's total turnover as British America Tobacco gained 4.99 percent.       
Among the major sectors: paper and printing gained 4.28 percent followed by non-bank financial institutions 2.22 percent, telecoms 1.79 percent, pharma 1.32 percent, tannery 1.40 percent and power 0.59 percent.
Life insurance declined 1.40 percent, followed by banks 0.39 percent and textile 1.13 percent.
Beximco topped the turnover chart with transactions of 64.67 lakh shares worth Tk 21 crore, followed by Square Pharma, and Grameenphone.
Legacy Footwear was the highest gainer of the day, posting a gain of 9.46 percent, while Shinepukur Ceramics was the worst loser, plunging 8.39 percent.   

Published: 12:00 am Tuesday, July 01, 2014

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