Sector-wise analysis

Most sectors down on profit booking

12 sectors close lower, 7 manage to edge up

| Updated: October 16, 2017 10:44:18

Most sectors down on profit booking

Most of the major sectors closed in the red last week that ended Thursday as investors were mostly on profit booking tendency throughout the week from recent price surge.

Of the 19 sectors listed on the prime bourse, except corporate bonds, debenture and treasury bonds, the market cap of 12 sectors fell while seven sectors managed to edge up, according to weekly analysis of the DSE and the LankaBangla Securities.

Brokers said investors went for booking profit, especially issues from IT, textile, fuel & power, bank, cement and pharmaceuticals sectors, which triggered a selling pressure in the market.

The IT sector posted the highest correction of 3.57 per cent, followed by textile with 2.23 per cent, fuel & power 1.29 per cent, cement 1.27 per cent, bank 1.14 per cent and pharmaceuticals 1.0 per cent.

Insurance, miscellaneous, services & real estate, ceramics, jute and non-bank financial services also lost 1.45 per cent, 1.04 per cent, 0.52 per cent, 0.37 per cent, 0.10 per cent and 0.09 per cent respectively.

The IT sector posted the highest loss of 3.57 per cent as prices of six companies fell sharply, out of seven listed companies in the sector.

Of the IT companies, Agni Systems fell sharply by 6.80 per cent, followed by BDCOM Online with 5.90 per cent, Intec 5.30 per cent, Aamra Technologies 4.90 per cent, IT Consultants 2.60 per cent and Information Services Network 0.60 per cent.

The fuel & power sector also posted 1.29 per cent correction as 14 issues of the sector witnessed correction, out of 18.

Of the fuel & power issues, Bangladesh Welding Electrodes was the week's highest loser, plunging by 17.62 per cent, followed by  CVO Petrochemical Refinery with 3.90 per cent, United Power 3.60 per cent, Power Grid Company 2.80 per cent, GBB Power 2.50 per cent, DESCO 2.10 per cent and heavyweight Titas Gas lost 1.80 per cent.

The bank sector also saw 1.14 per cent correction, after a 2.80 per cent gain in the previous week, as prices of 21 banks closed lower, out of 30 listed banks.

Of the banks, IFIC Bank witnessed the highest fall of 8.90 per cent, followed by ICB Islamic Bank with 6.90 per cent, Islami Bank 5.70 per cent, AB Bank 5.30 per cent, Prime Bank 3.70 per cent, Al-Arafa Islami Bank 3.60 per cent, Bank Asia 3.30 per cent and Standard Bank 2.40 per cent.

Most sectors down on profit booking

The textile sector fell 2.23 per cent as share prices of 35 issues closed lower, out of 48 with 15 companies posted more than 4.0 per cent correction.

Of the textile sector issues Recently listed Nurani Dyeing posted the highest correction of 11 per cent, followed by Regent Textile 10 per cent, Dulamia Cotton Mills 8.0 per cent, Saiham Cotton 7.0 per cent, Tung Hai Knitting 6.0 per cent, while Matin Spinning, Safko Spinning, Modern Dyeing, C&A Textile and Zahintex Industries fell 5.0 per cent each.

On the other hand, engineering sector posted the highest gain of 1.24 per cent among the major sectors, followed by telecommunication 0.47 per cent, and food & allied 0.40 per cent. Travel & leisure, paper & printing, mutual fund and tannery sectors also gained 3.52 per cent, 1.45 per cent, 0.27 per cent and 0.02 per cent respectively.

The engineering sector witnessed a 1.23 per cent gain as 18 issues of the sector closed higher, out of 33.

Of the engineering issues, BD Autocars posted the highest gain of 8.50 per cent gain, followed by IFAD Autos with 7.70 per cent, Monno Stafflers with 7.10 per cent,  Eastern Cables 6.10 per cent, Navana CNG 5.40 per cent, Anward Galvanizing 4.80 per cent and Singer BD 2.20 per cent.

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