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Bull run continues

July 21, 2007 00:00:00


FE Report
The market barometers of Dhaka Stock Exchange (DSE) continued to create new records in the week ended Thursday amid a thriving growth of turnover.
The daily average turnover crossed Tk 2.0 billion-mark for the first time in the week and closed at Tk 2.13 billion, up by 27.99 per cent at Tk 1.67 billion of the previous week
The total market capitalisation also crossed another milestone of Tk 500 billion-mark and closed at Tk 520.24 billion against Tk 493.49 billion of the previous week.
All the market barometers -DSE General Index or DGEN, DSE 20 and All Share Price Index or DSI- crossed 2300-mark, 2000-mark and 1900-mark respectively in the week.
DGEN, DSE 20 and All Share Price Index or DSI indices surged by 135.24 points, 209.03 points and 106.49 points against the previous week to close at 2339.37, 2088.60 and 1913.81 respectively.
Market operators said the market continued to witness a bullish mood with a fresh buying spree with the enhanced participation of institutional, retail and portfolio investors.
"Institutions are very active in recent days and they are buying blue-chip issues under banks, power and mutual funds," a DSE source said.
BRAC Bank and Square Pharma were the first and second turnover leaders with Tk 827.50 million million and 696.31 million traded accounting for 7.74 per cent and 6.51 per cent respectively of the total trading.
Southeast Bank, Power Grid, Summit Power, Shahjalal Islami Bank, Pubali Bank, United Commercial Bank, Dhaka Bank and Prime Bank were the other top turnover leaders.
Square Pharma attracted the investors' choice when the company recommended a lucrative 100 per cent dividend (50 per cent cash and 50 per cent stock) for the shareholders Monday last.
It was also encouraging for the investors that Square Pharma obtained accreditation from London-based Medicines and Healthcare Products Regulatory Agency (MHRA) to export the company products to the UK market.
Three A-category companies- Sandhani Life Insurance, Fareast Islami Life Insurance and Apex Footwear- were the top gainers in the week with 35.79 per cent, 33.01 per cent and 32.17 per cent rises against the previous week.
A total of 134 issues gained, 87 declined and 17 remained unchanged in the week.

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