Dhaka stocks rebounded on Wednesday after decline in the previous two trading sessions as investors’ opted to take fresh position ahead of the third-quarterly disclosures.
The key index of the Dhaka Stock Exchange, DSEX, finished at 5,315.11 points, adding 0.42 per cent or 22.50 points. Market operators said that investors’ fresh positioning approach after the last two trading sessions’ profit taking move drove the market to a positive ending on the day.
Third quarter ending disclosures of the listed companies beginning from mid-October led the investors to take fresh position with regard to different stocks, they said.
As per the accounting year of the listed companies, the third quarter of all the listed companies’ ended on September 30 and the financial statements of the companies’ would be disclosed by early next month.
After the decline for last couple of trading sessions, banking sector gained 1.10 per cent on the day, which played an important role behind the upward vibe in overall market, said operators.
DS30, the blue-chip index of the bourse, increased by 0.44 per cent, or 8.80 points, to close at 2,002.08 points on the day.
The Shariah index of DSE, DSES, rose by 0.69 per cent, or 8.66 points, to increase at 1,248.77 points.
Of the 303 shares and mutual funds traded on Wednesday, 156 advanced, 125 declined and 22 remained unchanged.
The turnover of the bourse declined to Tk 975.25 crore on the day compared with that of Tk 1,097.52 crore in the previous trading session.
‘Having optimistic support of large capitalized companies, the market reversed the last two sessions’ correction mood, closing DSEX positive at 5,315.1 points,’ IDLC Investments said in its daily market commentary.
‘Meanwhile, investors started re-balancing portfolio ahead of upcoming Q3 earnings disclosures,’ it said.
‘Besides, better earnings in some Mutual Funds impulsed investors to take position and assisted most of the mutual funds to close in green zone, with six of them attaining positions in top ten gainers’ list,’ it said.
‘Market ended in the green zone with DSEX hitting 5360 level intraday supported by Pharma, Fuel and Telco stocks in morning trading,’ LankaBangla Investments said in its daily market analysis.
‘Banking stocks rebounded a bit and ended with 1.1 per cent return in market capitalization,’ it said.
MJL Bangladesh led the turnover chart as its shares worth Tk 55.08 crore changed hands.
Square Pharmaceuticals, Titas Gas, Grameenphone, Delta Life Insurance, BEXIMCO, Heidelberg Cement, Khulna Power Compnay, Beximco Pharma and IDLC Finance were among other turnover leaders.
United Insurance gained the most on the day as its share prices rose by 8.44 per cent, while FAS Finance and Investment was the worst loser of the day, shedding by 7.18 per cent.
-With New Age input
