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The Financial Express

DSE, CSE rebound riding on bank shares

FE Online Report | Published: December 18, 2017 15:25:26 | Updated: December 20, 2017 14:53:25


Stocks rebound riding on bank shares

Stocks returned to green Monday, after remaining down in the previous session, as investors took position on heavyweight banking sector shares.

Brokers said the market rebounded in positive zone, despite most of the traded issues closed lower, riding on heavyweight banking and telecommunication stocks.

Share price of 24 banks closed higher, out of 30 listed banks. Grameenphone, the largest market cap listed company’s share price closed at Tk 468.10, gaining 0.24 per cent.

Following the previous day’s correction, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened on positive note.

The positive trend sustained and key index of the major bourse rose around 24 points within first hour of trading. But rest of the session eroded half of the gained points, finally closed more than 11 points higher.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 6,225, advancing 11.52 points or 0.18 per cent over the previous session.

The two other indices edged higher. The DS30 index, comprising blue chips advanced 5.25 points or 0.23 per cent to close at 2,244.

The DSE Shariah Index (DSES) also posted a fractional gain of 0.33 point or 0.02 per cent to finish at 1,373.

Turnover, the most important indicator of the market, stood at Tk 4.55 billion, which was nearly 35 per cent higher than the previous day’s seven months’ lowest turnover of Tk 3.38 billion.

Losers took a strong lead over the gainers as out of 331 issues traded, 178 closed lower, 99 closed higher and 54 remained unchanged on the DSE trading floor.

Grameenphone topped the day’s turnover chart with 606,454 shares of Tk 284 million changing hands, closely followed by Alif Manufacturing Company, Shahjalal Islami Bank, Square Pharmaceuticals and National Tubes.

National Tubes was the day’s best performer, posting a gain of 5.68 per cent while Dulamia Cotton was the day’s worst loser, plunging by 6.81 per cent.

The port city bourse also returned to higher with CSE All Shares Price Index of – advancing 31 points to finish at 19,273 points.

The Selective Categories Index of the port city bourse -- CSCX – also gained 21 points to settle at 11,645 points.

Losers beat gainers as 120 issues closed lower, 89 closed higher and 28 remained unchanged on the CSE.

The port city bourse traded 7.52 million shares and mutual fund units worth Tk 234 million in turnover.

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