Stocks
Stocks Inch up in the Essential Week
Amid mixed macroeconomic updates, profit-booking pressure in some overbought stocks kept pushing the indices down last week, while the continuation of investors’ appetite for some selective trendy stocks helped indices offset those.
DSEX, the broad-based index of the Dhaka Stock Exchange (DSE), closed the week 0.75pc higher at 6,564, which had a 0.7pc correction in the previous week.
The core index crossed the 6,600-mark and the single-day turnover hit a record high of Tk2,800 crore on Tuesday, but couldn’t hold the upbeat momentum as investors took a cautious stance, influenced by the gloomy earnings forecast of the major companies amid the macroeconomic adversities, EBL Securities wrote in its weekly market commentary.
The country’s foreign currency reserves dropped below $37 billion last week as the Bangladesh Bank (BB) was selling dollars to banks.
Stockbrokers, however, observed investors’ cautious optimism amid the trend that import payment pressures were easing last month due to lower fuel and capital machinery procurement.
LankaBangla Securities wrote citing the central bank, Bangladesh’s import bills fell to $5.38 billion in August from $6.79 billion a month ago. Fuel oil and capital machinery contributed more than 65% to the $1.41 billion import fall in August.
Also, a reported slowdown in apparel exports in the first 18 days of September increased investors’ caution, while remittance inflow still remains a source of hope.
Investors were busy with forecasting the upcoming earnings and following two declining sessions, the demand for oversold mid-cap stocks increased on Thursday, reflecting the increased tendency of portfolio rebalancing – booking profits to shift to other stocks.
With more trading activity, the average daily turnover on the DSE notably increased by 43pc to Tk2,022 crore last week.
Investors were most active in the pharmaceuticals and chemical sector which contributed to nearly one-fourth of the week’s turnover in the DSE, followed by miscellaneous and engineering sectors.
Travel and leisure generated the highest return last week as the sector’s total market capitalization increased by 20.5pc while following the recent gains jute sector faced the sharpest 13pc correction.
Only 86 advancing scrips, mostly mid-cap ones, offset the decline of 166 while the price of 134 scrips remained unchanged at the DSE.
In the Chittagong Stock Exchange, the broad-based index CSCX increased by 1.07pc to 11,596 last week, while CSE30, the blue-chip index of the port city bourse, inched down by 0.05% to 13,505.
Dhaka Stock Exchange DSE, Bourses on the last working day of the week, March 23, ended with price index hikes & turnover drops.
This information is known from DSE sources.
286 crores 97 lakh shares were traded in DSE on this day. 41 crores 51 lakhs less trading was done in DSE today compared to the previous workday, 22 March, Shares worth Tk 328 crores 48 lakh shares were traded in DSE last time, Wednesday.
The benchmark index DSEX hiked 8.66 points or 6,206. The Shariah-based index DSES rose 0.75 points or 1,353, and the blue-chip index DS30 gained 2.58 points or 2,218.
Of the issues traded, 74 advanced, 24 declined, and 205 remained unchanged.
Legacy Footwear Limited ranked top gainer on DSE, the share price increased by Tk 5.1 paisa or 9.98 percent. On this day, the share was last traded at Tk 56.20 paisa.
On the other hand, Bengal Windsor Thermoplastics Ltd ranked top loser on the DSE, the share price dropped by Tk 0.5 paisa or 1.68 percent. On this day, the share was last traded at Tk 29.20 paisa.
DSE topped on trade Eastern Housing Limited 34 crores 22 lakh 70 thousand takas of shares of the company have been traded.
A total of 49 companies’ shares were traded in the Block on Dhaka Stock Exchange, 79 lakh 23 thousand 878 shares of the companies were traded. The financial value of which is 37 crore 27 lakh taka.
Dhaka Stock Exchange DSE, Bourses on the fourth working day of the week, March 22, ended with price index & turnover drops.
This information is known from DSE sources.
328 crores 48 lakh shares were traded in DSE on this day. 21 crores 12 lakhs less trading was done in DSE today compared to the previous workday, 21 March, Shares worth Tk 349 crores 61 lakh shares were traded in DSE last time, Tuesday.
The benchmark index DSEX dropped 16.26 points or 6,206. The Shariah-based index DSES lost 3.34 points or 1,352, and the blue-chip index DS30 shed 5.18 points or 2,215.
Of the issues traded, 17 advanced, 82 declined, and 213 remained unchanged.
Legacy Footwear Limited ranked top gainer on DSE, the share price increased by Tk 3.8 paisa or 8.03 percent. On this day, the share was last traded at Tk 51.10 paisa.
On the other hand, Bengal Windsor Thermoplastics Ltd ranked top loser on the DSE, the share price dropped by Tk 2.4 paisa or 7.48 percent. On this day, the share was last traded at Tk 29.70 paisa.
DSE topped on trade Eastern Housing Limited 19 crores 14 lakh 10 thousand takas of shares of the company have been traded.
A total of 53 companies’ shares were traded in the Block on Dhaka Stock Exchange, 73 lakh 24 thousand 180 shares of the companies were traded. The financial value of which is 55 crore 76 lakh taka.
Dhaka Stock Exchange DSE, Bourses on the third working day of the week, March 21, ended with price index & turnover hikes.
This information is known from DSE sources.
349 crores 61 lakh shares were traded in DSE on this day. 4 crores 95 lakhs less trading was done in DSE today compared to the previous workday, 20 March, Shares worth Tk 344 crores 66 lakh shares were traded in DSE last time, Monday.
The benchmark index DSEX hiked 18.72 points or 6,222. The Shariah-based index DSES rose 5.90 points or 1,355, and the blue-chip index DS30 gained 4.80 points or 2,220.
Of the issues traded, 87 advanced, 14 declined, and 224 remained unchanged.
Legacy Footwear Limited ranked top gainer on DSE, the share price increased by Tk 4.3 paisa or 10.00 percent. On this day, the share was last traded at Tk 47.30 paisa.
On the other hand,Renwick Jagneswar & Co (Bd) Ltd ranked top loser on the DSE, the share price dropped by Tk 15.7 paisa or 2.05 percent. On this day, the share was last traded at Tk 750.10 paisa.
DSE topped on trade Sea Pearl Beach Resort & Spa Limited 30 crores 78 lakh 18 thousand takas of shares of the company have been traded.
A total of 51 companies’ shares were traded in the Block on Dhaka Stock Exchange, 45 lakh 77 thousand 172 shares of the companies were traded. The financial value of which is 36 crore 90 lakh taka.
