Dhaka shares down on price correction

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FE Report
The Dhaka Stock Exchange (DSE) witnessed downtrend in the week that ended Thursday, amid increasing participation of investors in trading after the previous bullish week.
The premier bourse lost its steam last week on price correction amid slash in loan ratio by some merchant bankers, according to market operators.
The DSE trading was shortened to four days from usual five days due to public holiday on the occasion of the Durga Puja, the biggest Hindu religious festival.
All the market barometers - the benchmark DSE General Index (DGEN), All Shares Price Index (DSI) and the DSE-20 comprising blue chips- shed 30.25 points, 63.00 points and 23.93 points to close at 2936.57, 2435.45 and 2442.21 respectively.
Out of 289 issues, 158 advanced, 86 declined, three remained unchanged and 42 were not traded in the week.
The daily average turnover, however, registered 17 per cent rise to Tk 4.91 billion against the previous week's Tk 4.19 billion. The DSE market capitalisation slightly declined to Tk 1.02 trillion from the record high of Tk 1.03 trillion set in the last week.
Beximco Pharma became the topmost turnover leader with shares worth Tk 1.35 billion traded and accounted for about 6.88 per cent of the week's total market turnover at the prime bourse.
Beximco Limited, Lankabangla Finance Company, Titas Gas, ACI Limited, Summit Power, GrameenS2 Mutual Fund, S Alam Cold Rolled Steels Limited, Keya Cosmetics and Union Capital were the other turnover leaders.
In the week, Modern Cement Industries, a Z-category issue, was the top gainer posting a 52.50 per cent rise, followed by Dafodil Computers 52.11 per cent, Keya Detergent 43.56 per cent, Padma Cement 40 per cent, Golden Son 39.06 per cent, Bionic Sea Food 36.67 per cent, Alltex Industries Ltd 35.90 per cent, Bdcom Online Ltd 35.58 per cent, Miracle Industries 35.25 per cent and City General Insurance 34.51 per cent.
Rupali Bank, Progati Life Insurance, BLTC, ICB, BSC, Bangladesh Luggage, Prime Islami Life Insurance, Metalex Corporation, 1st BSRS and Aramit were the week's top losers.
The A-category issues accounted for 85.51 per cent of the total turnover in value during the week, while B-category issues shared 1.03 per cent, N-category 9.78 per cent and Z-category 2.95 per cent.