Economic Reporter :
Stock market opened the week Sunday upward ahead of the national budget, which would be placed in the parliament on June 2 for the coming 2016-17 financial year (FY17).
The broader DSEX price index of Dhaka Stock Exchange (DSE) finished the first session of the week nearly 39 points up at 4426.78 when the blue-chip DS30 and the Shariah DSES ended moderately higher at 1734.74 and 1091.64 respectively.
The indices were up on active buying of large-cap securities, mutual funds and some least traded issues those became cheaper in the recent price fall.
Out of the day’s 318 issues traded, 162 gained against 92 losing securities. Of the advancing issues, 136 were from the large-cap group and nine were mutual funds.
Comparatively higher demand drove the price of majority of the issues traded. The daily trade value rose by 22.29 percent to Taka 427.97 crore when the volume was 36.18 percent up at 14.35 crore shares.
Analysts said the market started showing positive trend ahead of the budget on the expectation of getting some fiscal incentives. Already, there was media report about tariff structure restructuring, which would bring benefit to many sectors.
Besides the expectation centering budget, some positive corporate news also drove the investors’ sentiment to make fresh commitment. A listed company in the cement sector already disclosed that it would get a large amount of loan from some financial institutions for increasing production.
Among the day’s major gaining sectors were bank, cement, fuel and power, and textile when the food and allied sector lost marginally. The top five advancing companies were GP Isphat, Modern Dyeing, Lafarge Surma, Daffodil Computer and United Air.
The major losing issues were BD Autocars, DBH1st MF, Pragati Life, FBIF and Family Textile.
Chittagong Stock Exchange (CSE) also ended Sunday upward, with its major CASPI finishing over 107 points up at 13631.43.
Out of the traded 233 issues, 132 closed up against 72 losing securities when 1.46 crore shares changed hands for Taka 29.82.
Stock market opened the week Sunday upward ahead of the national budget, which would be placed in the parliament on June 2 for the coming 2016-17 financial year (FY17).
The broader DSEX price index of Dhaka Stock Exchange (DSE) finished the first session of the week nearly 39 points up at 4426.78 when the blue-chip DS30 and the Shariah DSES ended moderately higher at 1734.74 and 1091.64 respectively.
The indices were up on active buying of large-cap securities, mutual funds and some least traded issues those became cheaper in the recent price fall.
Out of the day’s 318 issues traded, 162 gained against 92 losing securities. Of the advancing issues, 136 were from the large-cap group and nine were mutual funds.
Comparatively higher demand drove the price of majority of the issues traded. The daily trade value rose by 22.29 percent to Taka 427.97 crore when the volume was 36.18 percent up at 14.35 crore shares.
Analysts said the market started showing positive trend ahead of the budget on the expectation of getting some fiscal incentives. Already, there was media report about tariff structure restructuring, which would bring benefit to many sectors.
Besides the expectation centering budget, some positive corporate news also drove the investors’ sentiment to make fresh commitment. A listed company in the cement sector already disclosed that it would get a large amount of loan from some financial institutions for increasing production.
Among the day’s major gaining sectors were bank, cement, fuel and power, and textile when the food and allied sector lost marginally. The top five advancing companies were GP Isphat, Modern Dyeing, Lafarge Surma, Daffodil Computer and United Air.
The major losing issues were BD Autocars, DBH1st MF, Pragati Life, FBIF and Family Textile.
Chittagong Stock Exchange (CSE) also ended Sunday upward, with its major CASPI finishing over 107 points up at 13631.43.
Out of the traded 233 issues, 132 closed up against 72 losing securities when 1.46 crore shares changed hands for Taka 29.82.
