Banking, power sectors lead DSE stocks' rally

FE Team | Published: November 09, 2007 00:00:00 | Updated: February 01, 2018 00:00:00

FE Report
Share prices on the Dhaka Stock Exchange (DSE) continued to rally for the second consecutive trading day Thursday as the stocks of the banking and power sectors and Lafarge Surma Cement gained.
Trading of shares on the DSE resumed Thursday after remaining suspended Wednesday, a public holiday marking the Solidarity Day.
Market operators said the prices of banking sector shares were increasing on the news about enhancement of paid-up capital of banks to Tk 2.0 billion (200 crore).
"As a result, the share prices of banks, especially the low priced issues, have been increasing due to the retail investors' affordability," observed a chief executive officer (CEO) of a brokerage house.
He said prices of shares of some good companies, especially in the 'A' category, are increasing on speculations that their dividends might be declared by the end of the year.
On Thursday, the last trading day of the week, the DSE General Index (DGEN), the All Shares Price Index (DSI), and the DSE-20 Index (DS20) gained 54.452 points, 42.729 points and 27.581 points to close at 2940.146, 2494.010 and 2252.219 respectively.
The total turnover rose to Tk 2.497 billion from Tk 1.956 billion of Tuesday last. The total market capitalisation also rose to Tk 713.440 billion from the previous Tk 703.323 billion.
Out of 214 traded issues, prices of 133 gained, 60 declined and 21 remained unchanged.
The Power Grid was the turnover leader with traded shares worth Tk 239.625 million
(23.9625 crore) followed by BRAC Bank with Tk 143.444 million, Lafarge Surma Cement with Tk 121.947 million, Summit Power with Tk 90.272 million, Trust Bank with Tk 85.727 million, Social Investment Bank with Tk 79.461 million, Al Arafah Islami Bank Tk 72.595 million, One Bank Tk 63.872 million, Standard Bank Tk 56.418 million and Jamuna Bank Tk 53.497 million.
Prices of Power Grid shares gained 1.78 per cent to Tk 640.75 each while BRAC Bank gained 1.43 per cent to Tk 1516.75, Lafarge Surma Cement 8.35 per cent to Tk 434.50, Summit Power 3.91 per cent to Tk 1573.00, Social Investment Bank 3.16 per cent to Tk 578.75, Al Arafah Islami Bank 13.99 per cent to Tk 562.25, One Bank 4.03 per cent to Tk 637.50, Standard Bank 1.82 per cent to Tk 334.75 and Jamuna Bank 5.16 per cent to Tk 422.25.
Trust Bank declined 0.13 per cent to Tk 1096.75.