Stocks edged higher with moderate volatility yesterday, after marginal fall due to profit taking in the previous session.
The rally was led by heavyweight Grameenphone that rose more than 3% ahead of its interim dividend deceleration.
The benchmark index DSEX gained 9 points or 0.3% to settle at 4,411, hitting highest 4,434 in the mid-session and lowest 4,401 in the opening session.
The comprising blue chips DS30 rose 14 points or 0.4% to 1,016. The Shariah Index DSES closed at 1,639, rising 15 points or 1%.
Chittagong Stock Exchange (CSE) Selective Categories Index, CSCX, rallied 51 points to 8,411.
But trading activities declined with total turnover at DSE standing at Tk440 crore, down more than 3% over the previous session. Cement sector contributed more than 14% of the total turnover.
Cement sector was the worst sufferer with a fall of over 4%, led by sector heavy-weight Lafarge Surma Cement that dropped almost 8%, as the company declared lower-than-expected dividend.
“Investors were materialising gains from certain scrips while waiting to hunt lucrative opportunities across preferred segments,” said DLC Investments in its daily market analysis.
It said in absence of any solid confirmation, they were a little bit hesitant and observing market-centric behavior.
Profit booking took place on banks and non-banking financial institutions that declined marginally. However, textile, power, food and pharmaceuticals moved up slightly.
Lanka Bangla Securities said for the investors, there was couple of takeaway from the morning news.
Following the hint of the finance minister to take capital gain tax at the individual level in consideration, investors might be igniting their expectation on scraping the tax on capital gain at individual level, it said.
Lafarge Surma Cement remained on top of the liquidity chart posting a total of Tk40 crore worth of turnover, followed by Grameenphone, Square Pharmaceuticals, Mobil Jamuna, BSRM Steel, Generation Next and Eastern Housing Ltd.
