Energy stocks up despite sharp fall in indices

The share price indices fell sharply yesterday, but energy issues were mostly active when market was downward for the entire session in a response to the mixed economic data that came over the weekend, report agencies.
Key share price indices in the country’s twin bourses—Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) - witnessed loss again amid poor participation of the investors yesterday, the first trading day of the week.
The authorities last week adjusted upward the gas and power prices, which drew mixed public reaction. The investors in the country’s stock market, however, reacted positively, making power sector’s issues the turnover leaders and advancing most of the energy securities at close.
Four out of the 10 most liquid scrips were from energy and power sector. These include Titas Gas as the turnover leader with SPCL, UPGDCL, BARAKA POWER and CVOPPL. The other most active issues were Squire Pharmaceuticals and Lafarge Surma Cement.
The broader price index of Dhaka Stock Exchange (DSE) cracked again below the 4,800 level amid the mixed scenario. The DSEX lost 21.85 points to close at 4,790.98 while the blue-chip DS30 and Shariah DSES were down to 1,835.40 and 1,181.79 respectively.
Manufacturing securities were mostly down on speculative selling by some investors, apprehending possible negative impact of the latest hike in gas and power tariff on the manufacturing sector.
Analysing the day’s market situation, LankaBangla Securities said, “Index cracked again below the 4,800 level amid growing concern over the hike in gas and electricity cost in retail level.”
The merchant bank also said, “All the major manufacturing companies got the hit owing to possible impact of higher burden on the industrial segment of the economy due to hike in gas tariff and electricity price.”
Another stockbroker, IDLC Finance said, “Market started the week in a negative vibe amid plummeting participation. Investors were in retreat as the morning bell tolled, evaporating demand for scrips. Without any support, most of the stocks fell and trading screens turned red”
Bank, telecom and textile sectors werealso down on the day while 93 securities gained, 173 declined and 48 remained unchanged. Food and allied, fuel and power and pharmaceuticals were the day’s major advancing sectors. Among the top five advancing issues were Sino Bangla, AIBL1stIMF, Miracle Industries, Legacy Foot and BD Welding. The most losing issues were Apex Foods, Reliance Insurance, Monno Stafflers, Northern Jute and Modern Dye.
Activities decreased on the day, with the daily trade value falling by 16.90 per cent to Tk 350.35 crore and the volume declining by 17.19 per cent to 8.37 crore shares.
Like DSE, Chittagong Stock Exchange (CSE) also closed the first trading session of the week down when its major CSCX index fell by 38.29 points to finish at 8932.32.
A total of 63.52 lakh shares worth Tk 23.08 crore changed hands on the day when 63 issues closed higher and 140 lower among traded 238 securities.

Energy stocks up despite sharp fall in indices

The share price indices fell sharply yesterday, but energy issues were mostly active when market was downward for the entire session in a response to the mixed economic data that came over the weekend, report agencies. Key share price indices in the countrys twin boursesDhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) - witnessed loss again amid poor participation of the investors yesterday, the first trading day of the week. The authorities last week adjusted upward the gas and power prices, which drew mixed public reaction. The investors in the countrys stock market, however, reacted positively, making power sectors issues the turnover leaders and advancing most of the energy securities at close. Four out of the 10 most liquid scrips were from energy and power sector. These include Titas Gas as the turnover leader with SPCL, UPGDCL, BARAKA POWER and CVOPPL. The other most active issues were Squire Pharmaceuticals and Lafarge Surma Cement. The broader price index of Dhaka Stock Exchange (DSE) cracked again below the 4,800 level amid the mixed scenario. The DSEX lost 21.85 points to close at 4,790.98 while the blue-chip DS30 and Shariah DSES were down to 1,835.40 and 1,181.79 respectively. Manufacturing securities were mostly down on speculative selling by some investors, apprehending possible negative impact of the latest hike in gas and power tariff on the manufacturing sector. Analysing the days market situation, LankaBangla Securities said, Index cracked again below the 4,800 level amid growing concern over the hike in gas and electricity cost in retail level. The merchant bank also said, All the major manufacturing companies got the hit owing to possible impact of higher burden on the industrial segment of the economy due to hike in gas tariff and electricity price. Another stockbroker, IDLC Finance said, Market started the week in a negative vibe amid plummeting participation. Investors were in retreat as the morning bell tolled, evaporating demand for scrips. Without any support, most of the stocks fell and trading screens turned red Bank, telecom and textile sectors werealso down on the day while 93 securities gained, 173 declined and 48 remained unchanged. Food and allied, fuel and power and pharmaceuticals were the days major advancing sectors. Among the top five advancing issues were Sino Bangla, AIBL1stIMF, Miracle Industries, Legacy Foot and BD Welding. The most losing issues were Apex Foods, Reliance Insurance, Monno Stafflers, Northern Jute and Modern Dye. Activities decreased on the day, with the daily trade value falling by 16.90 per cent to Tk 350.35 crore and the volume declining by 17.19 per cent to 8.37 crore shares. Like DSE, Chittagong Stock Exchange (CSE) also closed the first trading session of the week down when its major CSCX index fell by 38.29 points to finish at 8932.32. A total of 63.52 lakh shares worth Tk 23.08 crore changed hands on the day when 63 issues closed higher and 140 lower among traded 238 securities.