Bourses close positive amid increased turnover

Indices closed in green territory today, as investors showed confidence on sector-specific stocks. 

The prime index of the Dhaka Stock Exchange, DSEX gained 25 points or 0.6 percent to close the day at 4,507 points. 

The DS30, the blue-chip index, advanced 11 points or 0.7 percent to stand at 1,536 points, while DSES, the Shariah-based index, gained 8 points or 0.8 percent to settle at 1,034 points.

On the port city bourse, CASPI – the benchmark index – witnessed a gain of 61 points or 0.4 percent to close at 13,712 points. 

The market started the session on a positive note but witnessed a decline during the mid-session. However, an upward movement was observed during the later hours of the trading session, which helped the key index end in the positive territory. 

Investors were optimistic on Monday following the finance minister's recent statement on the government decision to list seven state-run energy firms in the stock market, according to the Daily Market Review of EBL Securities Ltd. 

The companies which are going to be listed are Titas Gas Transmission and Distribution Company Ltd, Power Grid Company of Bangladesh, North-West Power Generation Company Ltd, Electricity Generation Company of Bangladesh, Ashuganj Power Station Company Ltd, B R Powergen Ltd, and Gas Transmission Company Ltd. 

Titas and Power Grid are already listed in Dhaka and Chittagong stock exchanges. They will introduce an additional 10 percent shares in the capital market, officials said. 

Titas Gas posted a 9.8 percent gain today.  

Despite the recent underwhelming earnings declarations of various companies, the government's promises of bringing fundamental changes in the stock market have been keeping the investors' confidence on the stock market buoyant, added the review. 

Turnover, one of the major indicators of the market, stood at Tk506.4 crore on Monday, 9 percent up from Tk464.7 crore in the previous session.

Fuel and power stocks contributed the highest, 14.8 percent, to the total turnover value, followed by engineering stocks adding 13.6 percent, and textile stocks adding 12 percent. 

Most of the sectors ended in the positive territory on Monday, with telecom exhibiting the highest price appreciation of 5.7 percent. 

On the other hand, cement witnessed the highest price correction of 3.5 percent. 

Among the other large-cap sectors, financial stocks gained 0.8 percent, pharmaceuticals gained 0.2 percent, whereas banks lost 0.2 percent price in the sector return board. 

Lafarge Holcim Bangladesh Ltd was the most traded stock with a turnover value of Tk40.8 crore, closing the day at Tk47.8 per share. The stock was followed by Khulna Power Company Ltd, with a turnover value of Tk24.8 crore, closing at Tk53.7 per share. 

The Dragon Sweater and Spinning Ltd topped the gainers' table, advancing 9.9 percent, closing at Tk11.1 per share, while United Airways (BD) Ltd was the day's worst loser after shedding 10 percent and closing at Tk1.8 per share, said the DSE website.

Fu-Wang Ceramics Ltd was the second worst loser on Monday shedding 6.8 percent, closing at Tk6.8 per share. As per the DSE news, the company has been listed in the Z category from existing B category, as it has failed to comply with the DSE regulation of sending dividend disbursement compliance report in due time. 

Gainers outnumbered the losers as out of 355 issues traded, 196 advanced, 117 declined, and 42 remained unchanged on the DSE trading floor.