DSEX rises but blue-chip index falls
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), continued its winning streak for the six consecutive days despite a short volatile session in the morning.
However, its blue-chip index DS30 saw price correction as investors booked capital gain by selling those shares.
At the end of last trading day before the Eid vacation, DSEX rose by 0.45% or 26 points to reach at 5,750, while DS30 fell by 0.35% to settle at 2,186.
Besides, the port city burse Chittagong Stock Exchange's (CSE) main index CASPI witnessed 0.55% gain to reach at 16,658 points.
The turnover, which is one of the major indicators of the DSE, rose by 4% to Tk1,453.56 crore.
Following the bull-run trend, 201 companies share price advanced, while 101 companies declined and 64 remained unchanged at the DSE.
EBL Securities noted in the daily market commentary that equity indices of the premier bourse secured the apex position in the last three months as investors are optimistic due to earnings surprises. Besides, investors are also preferring to keep funds in the stock market for higher returns.
On top of that, the market stabilization fund of the securities regulator also positively impacted investor confidence towards the bourse of the country.
On Wednesday, investors received the highest return of 5% from the service sector, followed by the textile and paper sector.
But, the cement sector witnessed price correction despite most of the companies in this sector posted growth in the third quarter of this fiscal year.
Following the textile sector price hike, Kattali Textile, ML Dyeing, Sonargaon Textile, VFS Thread and Fareast Knitting's share price rise above 9%.
Besides, in the banking sector the newly listed NRB Commercial bank kept gaining streak for the last seven days. During this period its share price rose by 63% to Tk19.60 each. The bank declared 7.5% cash and 5% stock to the shareholders for the financial year 2020 and reported 20% growth in earnings per share to Tk2.37, according to the DSE website.
Rupali Bank shares also saw price hike and posted 9.74% gain to close at Tk29.30 each. In the last two days its share price rose by 20% ahead of declaration dividend and quarterly financial result.
In the daily sector wise turnover chart, general insurance secured the highest position and contributed about 18% of the total DSE turnover.
In the script wise turnover chart, Beximco Limited secured the top position with 7.3% contribution, followed by National Feed Mill and Lankabangla Finance.
