LankaBangla Securities, analysing last week’s market situation, said, “Stocks ended the week with consistent gain as the market was driven by industry specific news and economic updates.” “As market has already digested quarterly earnings, all eyes are looking to see how market triggers impacted the bellwethers stocks,” leading stockbroker added.
LankaBangla said the central bank decided to hold off on interest rate cut in the 2015-16 fiscal to curb the volatility in inflation, while private banks are expecting to reduce lending rate to single-digit levels by January next and urged the government to cut further the yield rates on National Savings Certificates (NSC).
Among the major gaining sectors, telecommunication gained 6.41 percent followed by engineering 6.22 percent, cement 3.80 percent and fuel & power 2.13 percent. The major losing sectors were mutual fund and NBFI with 3.49 percent and 2.82 percent loss respectively. The week’s top five gainers at Dhaka bourse were Desh Garments with a gain of 20.33 percent, followed by MI Cement 17.07 percent, Aman Feed 16.86 percent, Navana CNG 13.69 percent and BSRM Steels 13.32 percent. BSRM Steels topped the week’s turnover chart with shares worth Tk 108.93 crore, followed by Beximco Pharma Tk 99.07crore, Ifad Autos Tk 91.89 crore, Square Pharma Tk 75.73 crore and KDS Accessories with shares worth Tk 67.99 crore. Top five losers at the DSE on the last week were Savar Refractories losing 17.33 percent, followed by Dacca Dyeing 14.29 percent, Exim Bank 1st Mutual Fund 12.50 percent, Usmania Glass 9.55 percent and Delta Spinners 9.28 percent.