Dhaka stocks ended positive on Thursday, the last trading session of the week, despite decline in most of the traded scrips as rising share prices of large capitalised companies kept the market afloat. The key index of the Dhaka Stock Exchange, DSEX, finished flat at 4,486.19 points, adding 0.02 per cent or 1.29 points. Turnover of the bourse, however, fell by 9.79 per cent to Tk 588.01 crore compared with Tk 651.80 crore in the previous trading session.
Investors’ short-term profit making move resulted in declined share prices of most of the traded scrips, market operators said.
Despite the fact, the market remained on the positive territory as some large capitalised companies, including Grameenphone and MJL Bangladesh, helped the market to keep afloat, they said.
Investors opted to purchase GP shares in large numbers based on the rumour that the prices of the scrip will increase further, operators said.
Prices of GP shares increased by 7.15 per cent to Tk 323.90 on Thursday, which was Tk 307.90 on the previous trading session.
Operators also said that the positive vibe might continue for some more trading sessions with scrip-wise investment by the investors, mostly the institutional investors.
The institutional investors were on the sidelines after the half-yearly closing, but they increased their participation on the trading floor before the Eid-ul-Fitr vacations to avail shares in cheap, they said.
DS30, the blue-chip index of the bourse, increased by 0.18 per cent, or 3.03 points, to close at 1,652.70 points on the day.
The Shariah index of the bourse, DSES, advanced to 1,026.27 points, increasing 0.57 per cent or 5.88 points.
Of the 294 traded shares and mutual funds, 125 advanced, 139 declined and 32 remained unchanged.
‘Large capitalised companies pulled up today’s market momentum,’ IDLC Investments said in its daily market commentary.
‘Coupled with volatile market movements, stock specific focus knocked investors, significantly,’ it said.
‘Meanwhile, though activities declined by 9.79 per cent to Tk 588 crore, investors’ participation was encouraging,’ it said.
On the other side, remaining as a sectoral performance leader for the last two days, life insurance sector fell in trap of profit booking and became worst performing sector of the day, it said.
MJL Bangladesh led the turvneor chart as its shares worth Tk 40.51 crore changed hands.
Grameenphone, BEXIMCO, Square Pharmaceuticals, ACI Limited, Active Fine Chemicals, Shahjibazar Power Compnay, Hwa Well Textiles (BD), Meghna Petroleum and Lafarge Surma Cement were among other turnover leaders.
Shahjibazar Power Compnay gained the most on the day as its share prices increased by 9.89 per cent, while Prime Bank lost the most shedding 5.50 per cent.
-With New Age input
