The market edged higher Tuesday, breaking fifth waning sessions with turnover remained sluggish as opening hype could not sustain against profit booking after mid-session.
The prime index of the Dhaka Stock Exchange --- DSEX ended 4030.09 points, gaining 9.01points or 0.22 per cent, after shedding 116.85 points in the recent 5-day losing streak and hitting 5-week low on Monday.
Trading activities remained sluggish on DSE as the turnover value came down to Tk 5.0 billion low again to Tk 4.68 billion, registering 10.01 per cent decline over the previous session's value.
"The opening hype could not sustain against profit booking after mid-session. Regardless of this situation, investors' positioning in most of the Large Cap and Mid Cap scrips assisted indices to end in green zone," commented IDLC Investments.
Investors mostly focused on sector-wise shuffling during the day's session. Besides, scrips-wise swings persisted throughout the session, said the merchant bank.
However, investors were seemed to be indecisive backed by apparent lack of future market direction, the merchant bank added.
"A meager recovery in day's DSE index and a fall in turnover is a clear indication that market is still in the grip of fluctuation," observed Zenith Investments.
"A small excitement in the market is all it takes, which is yet to be seen, can trigger the vibrant tendency among the shareholders," the Zenith analysis added.
"Investors seem to churn their portfolio positioning on one stock to another based on their anticipation about market ahead of Eid-ul-Azha and political upheavals," LankaBangla Securities said.
The gainers took a modest lead over the losers as out of 291 issues traded, 151 advanced, 116 declined and 24 remained unchanged in the prime bourse.
Most of the sectors ended flat and a couple of them did quite well. Once again Insurance was the top gainer, as most of the insurance companies' performance was quite laudable.
The cement sector achieved 6.1 per cent per cent as the sector became vibrant as MI Cement took a ride on the upsurge of the index and it gained a mammoth 2.75 per cent in terms of turnover.
The major sectors posted mixed results - telecommunications, which was the big loser previous day, made a quick recovery Tuesday with a gain of 2.03 per cent.
Fuel and power and NBFIs advanced 0.47 per cent and 0.26 per cent respectively. Banks and pharmaceuticals remained in red akin to previous day with 0.32 per cent 0.18 per cent respectively.
Activities also decreased on the prime bourse. A total of 0.124 million trades were executed with 116.50 million shares and mutual fund units were trading volume.
The market capitalisation of the DSE stood at Tk 2,567.13 billion against Tk 2,559.01 billion in the previous session.
Amid the slower participation, activity centralization continued in Textile and pharmaceutical sectors, contributing 22.52 per cent and 9.22 per cent respectively of the total turnover.
CMC Kamal became the top turnover leader with shares worth Tk 174.54 million changing hands. Three other issues from the Textile sector featured in the top ten turnover's chart.
Rahima Food was the day's highest gainer, posting a rise of 9.57 per cent while Modern Dyeing was the day's worst losers, slumping by 9.87 per cent following the news that the company's production was closed since 31 January, 2010.
The Chittagong Stock Exchange (CSE) also ended marginally higher, with its Selective Categories Index gained 18.80 points to close at 7,871.29 points.
Gainers beat losers 103 to 100, with 20 issues remaining unchanged at the port city bourse that traded 12.13 million shares and mutual fund units, turnover value of Tk 402.73 million.
Source: The Financial Express
