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Weekly sector-wise analysis

16 sectors soar, three in the red

FE Report | Published: January 06, 2018 11:25:46 | Updated: January 08, 2018 10:34:12


File Photo (Collected)

Most of the major sectors closed higher this week, reflecting the investors' renewed interest in sector-wise issues at the beginning of the New Year.

Of the 19 sectors listed with the prime bourse, except corporate bonds, debenture and treasury bonds, the market capitalisation of 16 sectors ended higher while only three witnessed marginal correction, according to weekly analysis of the Dhaka Stock Exchange (DSE) and LankaBangla Securities.

Among the major sectors, fuel and power posted the highest positive return of 3.61 per cent, with prices of 16 issues, out of 18, in this sector ending higher.

Of the fuel and power issues, Baraka Power was the best performer, gaining 10.20 per cent. Its share price closed at Tk 37.90 on Thursday, the last trading day of the week.

Baraka Power was followed by United Power with 7.34 per cent gain, followed by GBB Power (5.30 per cent), Power Grid Company (5.0 per cent), Doreen Power (4.60 per cent), DESCO (3.50 per cent), Shahjibazar Power (2.80 per cent) and Titas Gas (2.50 per cent).

Other major gaining sectors are engineering (2.85 per cent), textile (2.60 per cent), non-bank financial institutions (2.34 per cent), telecommunications (1.60 per cent) and pharmaceuticals (1.24 per cent).

The engineering sector witnessed a 2.85 per cent gain as share prices of 30 engineering issues, out of 36, closed higher.

In the engineering sector, Western Marine Shipyard saw the highest gain of 12 per cent, followed by Eastern Cables (7.80 per cent), Deshbandhu Polymer (7.10 per cent), Shuwrid Industries (5.70 per cent), S Alam Cold Rolled Steels (4.80 per cent), Bangladesh Steel Re-rolling Mills (4.0 per cent) and BBS Cables (3.90 per cent).

The non-bank financial institutions (NBFI) rose 2.34 per cent, with 19 issues of the sector, out of 23, ending higher.

Of the NBFI issues, Union Capital was the highest gainer, posting a 4.50 per cent gain, followed by Fareast Finance (4.48 per cent), Investment Corporation of Bangladesh (3.90 per cent), International Leasing (3.60 per cent), Midas Financing (3.40 per cent) and LankaBangla Finance (2.50 per cent).

The heavyweight telecommunication sector, comprising two issues- Grameenphone (GP) and Bangladesh Submarine Cable Company (BSCCL) -- closed 1.60 per cent higher.

GP, having the largest market cap, rose 1.57 per cent to close at Tk 478.20 while BSCCL advanced 4.36 per cent to close at Tk 107.60 on the premier bourse on Thursday.

On the other hand, three sectors-banking-- cement, paper and printing closed lower, shedding 0.78 per cent, 0.77 per cent and 0.42 per cent respectively.

The heavyweight banking sector lost 0.78 per cent as prices of 17 banks, out of 30 listed, closed lower.

Of the banks, Dutch-Bangla Bank was the biggest loser, shedding 3.30 per cent, followed by Rupali Bank (3.20 per cent), City Bank (3.0 per cent), Prime Bank (2.90 per cent), SIBL (2.10 per cent), UCB (1.70 per cent) and Brac Bank (1.60 per cent).

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