Weekly sector-wise analysis

Banking, NBFI, ceramic witness big hit


FE Report | Published: March 17, 2018 12:10:16 | Updated: March 18, 2018 12:49:34


FE File Photo

The majors sectors witnessed heavy sale pressure last week that ended Thursday.

Banking, financial institutions and ceramic sectors incurred a big hit.

Of the 19 sectors listed with the prime bourse, except corporate bonds, debenture and treasury bonds, the market-cap of 18 sectors faced correction while only mutual fund managed to close green, according to weekly analysis of the Dhaka Stock Exchange (DSE) and LankaBangla Securities.

Market operators said almost all the sectors ended lower amid sluggish trading activities as investors continued their selling spree.

Among the major sectors, the non-bank financial institutions witnessed the highest correction of 4.70 per cent as 18 issues of the sector ended lower, out of 23.

Of the non-bank financial institution issues, LankaBangla Finance saw the highest correction of 15.10 per cent to close at Tk 30.30, followed by First Finance with 9.60 per cent, IDLC Finance 6.80 per cent, GSP Finance 6.30 per cent, National Housing Finance 5.10 per cent, Peoples Leasing 5.0 per cent, International Leasing 5.0 per cent, ICB 4.50 per ce4nt and Phoenix Finance 4.40 per cent.

The heavyweight banking sector also saw 2.20 per cent correction as 25 banks ended lower, out of 30.

Of the banks, Rupali Bank witnessed the highest correction of 6.80 per cent, followed by Al-Arafah Islami Bank with 6.80 per cent, SIBL 5.50 per cent, ICB Islamic Bank 5.30 per cent, Islami Bank 4.90 per cent, Mutual Trust Bank 4.70 per cent, NCC Bank 4.20 per cent and Brac Bank 3.90 per cent.

The ceramic sector slumped 4.03 per cent as four issues of the sector closed lower and one closed in positive territory.

Of the ceramic issues, Monno Ceramic Industries witnessed the highest loss of 9.30 per cent to close at Tk 137.50 on Thursday, followed by Shinepukur Ceramic with 8.20 per cent, RAK Ceramic 2.50 per cent and Fu-Wang Ceramic 2.40 per cent.

The heavyweight telecom sector, with two issues-Grameenphone and Bangladesh Submarine Cable Company Limited (BSCCL)-also lost 1.44 per cent.

The largest market-cap listed company, Grameenphone's share price plunged 1.0 per cent to close at Tk 482.10 on Thursday, the last trading session of the week.

The share price of state-run BSCCL, another issue of the telecom sector, closed at Tk 95.70 on Thursday, shedding 1.0 per cent over the week before.

The engineering sector also lost 2.40 per cent as 34 issues of the sector posted negative return, out of 36.

Of the engineering issues, BD Lamps saw the highest correction of 8.80 per cent, closely followed by Monno Jute Stafflers with 8.60 per cent, Anwar Galvanizing 8.20 per cent, Oimex Electrode 7.60 per cent, Aziz Pipes 6.50 per cent, Eastern Cables 5.60 per cent, BBS 5.50 per cent, BBS Cables 4.90 per cent and BD Thai Aluminum 4.80 per cent.

Mutual Funds showed positive movements in contrast to the market and the sector posted a weekly gain of 1.28 per cent as top six gainers of the week came from mutual funds with CAPM IBBL Mutual Fund was the week's highest gainer, gaining 24.51 per cent.

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