Investors' hunt for shares continues

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FE Report
The turnover and market capitalisation of the Dhaka Stock Exchange (DSE) reached new highs in the week ended Thursday due to investors' continued enthusiasm to buy shares, particularly those belonging to bank, power and mutual fund sectors.
The daily turnover and market capitalisation crossed Tk 3.0 billion-mark and Tk 700 billion-mark respectively for the first time in the week.
The daily average turnover, however, rose 5.01 per cent to Tk 2.63 billion in the week against Tk 2.50 billion in the previous week.
The week witnessed trading in four days instead of five days as there was no trading Sunday last due to public holiday on the occasion of Durga Puja festival.
All the market barometers- DSE General Index or DGEN, All Shares Price Index or DSI and DS 20- gained 41.43 points, 45.66 points and 48.95 points respectively.
DGEN, DSI and DS 20 closed at 2901.99, 2470.79 and 2231.13 points respectively.
Commenting on the latest market trends, DSE sources said the market might go up further as upbeat investors are now crazy to buy the shares of public sector oil marketing and energy companies would be listed under direct listing regulations.
"We hope shares worth Tk 2.27 billion of Jamuna Oil, Meghna Oil and Titas Gas will be floated by the end of 2007 and it is creating a strong enthusiasm among the investors," a DSE source told the FE.
Trust Bank continued its rally as the top turnover leader with Tk 794.11 million traded accounting for 7.55 per cent of the week's total turnover.
DESCO, BRAC Bank, Summit Power, Social Investment Bank, Prime Bank, Grameen Mutual One, AB Bank, Beximco Pharma and Power Grid were the turnover leaders.
Three Z-category issues-Social Investment Bank, Pragati Life Insurance and Prime Insurance- were the top gainers in the week with 46.69 per cent, 29.71 per cent and 29.58 per cent increase in their prices respectively over that of the previous week.
Meanwhile, subscription of a new issue- Fidelity Assets and Securities Company Ltd-begins tomorrow (Sunday). The non-banking financial institution (NBFI) will float 1,406,350 shares with a face value of Tk 100 each and the subscription ends November 1.
Earlier 16 NBFIs floated their shares.