Stock markets close week with marginal gains

Stock market closed week yesterday with marginal gains mostly in the large-cap securities while banking sector witnessed sort-lived volatility because of voluminous offloading of shares of a bank, reports BSS.
The broader DSEX index of Dhaka Stock Exchange (DSE) was up by 31.29 points this week to close at 4808.87, but the blue-chip DS30 and Shariah DSES ended slightly lower at 1859.40 and 1191.01 accordingly.
Among the major economic updates of the week was the new record for foreign exchange reserves that crossed $26 billion-mark for the first time on Tuesday. The reserve was also 17.8 per cent up on year-on-year basis.
The mixed data about provisioning against default loans in banks also impacted the market, particularly the banking sector's shares. Media reported provision shortfall, saying that the default loans declined at the same time.
 The mixed data triggered volatility in banking shares. The volatility, however, could not sustain as banking and financial stocks regained strength on the news of improved asset quality.
Dubai Islamic Bank, one of the corporate sponsors of Islami Bank, sold over 37 lakh shares through stock exchange this week, which created a sale pressure on the banking sector. Share prices of the Islami Bank, however, fell marginally as the sale completed yesterday. Average daily turnover in value during the week was 9.04 per cent down to Tk 563.93 crore when the daily trade volume fell by 1.42 per cent to 14.44 crore shares as investors continued their cautious trading behaviour.
Market remained mostly for buyers as 171 issues closed the week lower against 133 advancing securities while 20 remained static among 326 issues traded. Market capitalisation remained unchanged despite the lower level of activities when market P/E (price earning) stood at 15.94.
Pharmaceuticals and engineering stocks were the major market movers this week with turnover contribution of 16 per cent and 18 per cent respectively. Among the major gaining sectors were NBFI (5.18 per cent), bank (3.15 per cent) and tannery (2.84 per cent).
The top five gaining issues were Apex Foods (28.84 per cent), Northern Jute (27.08 per cent), Apex Tannery (20.42 per cent), Monno Ceramic (19.10 per cent) and IFIC (18.63 per cent).
The major losing sectors were mutual fund (-3.40 per cent), cement (-3.24 per cent) and miscellaneous (-1.59 per cent) and major losing companies were EBLNRB MF (-12.5 per cent), EBL1STMF (-9.3 per cent), Family Tex (-8.5 per cent) and Navana CNG (-8.36 per cent).
On the last day of the week, turnover value on DSE was 8.50 per cent up at Tk 596.97 crore and the volume was higher by 1.30 per cent to 14.44 crore shares when 158 securities gained, 127 declined and 53 remained unchanged.
Chittagong Stock Exchange (CSE) also closed the week in green when its major CSCX index ended over 36 points to higher at 9027.44.
On the last trading session, 116 securities closed higher against 96 losing issues when the daily trade value was Tk 41.43 crore for 1.19 crore shares.

Stock markets close week with marginal gains

Stock market closed week yesterday with marginal gains mostly in the large-cap securities while banking sector witnessed sort-lived volatility because of voluminous offloading of shares of a bank, reports BSS. The broader DSEX index of Dhaka Stock Exchange (DSE) was up by 31.29 points this week to close at 4808.87, but the blue-chip DS30 and Shariah DSES ended slightly lower at 1859.40 and 1191.01 accordingly. Among the major economic updates of the week was the new record for foreign exchange reserves that crossed $26 billion-mark for the first time on Tuesday. The reserve was also 17.8 per cent up on year-on-year basis. The mixed data about provisioning against default loans in banks also impacted the market, particularly the banking sectors shares. Media reported provision shortfall, saying that the default loans declined at the same time. The mixed data triggered volatility in banking shares. The volatility, however, could not sustain as banking and financial stocks regained strength on the news of improved asset quality. Dubai Islamic Bank, one of the corporate sponsors of Islami Bank, sold over 37 lakh shares through stock exchange this week, which created a sale pressure on the banking sector. Share prices of the Islami Bank, however, fell marginally as the sale completed yesterday. Average daily turnover in value during the week was 9.04 per cent down to Tk 563.93 crore when the daily trade volume fell by 1.42 per cent to 14.44 crore shares as investors continued their cautious trading behaviour. Market remained mostly for buyers as 171 issues closed the week lower against 133 advancing securities while 20 remained static among 326 issues traded. Market capitalisation remained unchanged despite the lower level of activities when market P/E (price earning) stood at 15.94. Pharmaceuticals and engineering stocks were the major market movers this week with turnover contribution of 16 per cent and 18 per cent respectively. Among the major gaining sectors were NBFI (5.18 per cent), bank (3.15 per cent) and tannery (2.84 per cent). The top five gaining issues were Apex Foods (28.84 per cent), Northern Jute (27.08 per cent), Apex Tannery (20.42 per cent), Monno Ceramic (19.10 per cent) and IFIC (18.63 per cent). The major losing sectors were mutual fund (-3.40 per cent), cement (-3.24 per cent) and miscellaneous (-1.59 per cent) and major losing companies were EBLNRB MF (-12.5 per cent), EBL1STMF (-9.3 per cent), Family Tex (-8.5 per cent) and Navana CNG (-8.36 per cent). On the last day of the week, turnover value on DSE was 8.50 per cent up at Tk 596.97 crore and the volume was higher by 1.30 per cent to 14.44 crore shares when 158 securities gained, 127 declined and 53 remained unchanged. Chittagong Stock Exchange (CSE) also closed the week in green when its major CSCX index ended over 36 points to higher at 9027.44. On the last trading session, 116 securities closed higher against 96 losing issues when the daily trade value was Tk 41.43 crore for 1.19 crore shares.