AB Bank propels higher turnover
Saturday, 8 March 2008
FE Report
The Dhaka Stock Exchange (DSE) continued to remain buoyant in the week ended Thursday with a 45.18 per cent rise in the turnover led by AB Bank.
The AB Bank was the top turnover leader with Tk 1.8 billion traded, accounting for 15.21 per cent of the total market turnover on a strong rumour that it will recommend attractive dividend.
"The market showed rising trend as the season for announcing dividends by the listed companies has just begun and funds are being poured by a group of investors amid a buying spree," according to the market operators.
The trading on the prime bourse began in the opening trading day with a downbeat mood but ended in the reverse amid increased presence of investors.
The DSE in its opening trading day suspended trade for more than four hours due to 'technical fault' in its automated transactions, causing sufferings to the general investors. The disruption lasted for the longest period so far after the launching of online trading since August 10 of 1998.
All the market barometers - DSE General Index (DGEN), All Share Price Index (DSI) and DSE20 - gained 2.05 per cent or 59.99 points, 2.08 per cent or 51.63 points and 0.90 per cent or 20.84 points to close at 2991.37, 2528.00 and 2339.15 respectively on the last trading day of the week.
However, the price movement was seen by the analysts as risky for the general investors as prices of most of the securities were still overpriced.
They advised the small investors to justify the company fundamentals before deciding to buy the securities.
The daily average turnover was up by 45.18 per cent to Tk 2.45 billion in the week against Tk 1.69 billion previously. The total market capitalisation increased 1.68 per cent to Tk 817.73 billion from previous week's Tk 804.21 billion.
Out of 285 traded issues, share prices of 186 advanced, 65 declined, seven remained unchanged and 31 were not traded.
Among the top ten gainers, seven were from the pharmaceutical companies on the news that some companies would expand their businesses, which left cascading effect on the other companies.
The seven companies were Ambee Pharma, Therapeutics, Pharmaco International, BCIL, Glaxo SmithKline, Rahman Chemicals and Ibn Sina, recording a rise of 80.04 per cent, 61.90 per cent, 49.53 per cent, 48.39 per cent, 43.11 per cent, 42.67 per cent and 40.23 per cent respectively.
Other three gaining companies were 7th ICB, Kay and Que and Rahim Textile.
Of them 7th ICB Mutual Fund whopped by 85.57 per cent to become the top gainer on the disclosure of its better financial performance in the half year ended December 12,2007.
As per un-audited half yearly accounts as of December 31,2007, the 7th ICB Mutual Fund has reported net income of Tk. 38.20 million with earning per certificate of Tk. 127.34 against net loss of Tk. (0.13) million and earning per certificate of Tk. (0.44) as on December 31, 2006.
Square Pharmaceuticals was the second turnover leader with Tk 622.60 million traded, accounting for 5.07 per cent of the week's total turnover.
Grameen One, IFIC Bank, United Commercial Bank, ACI Limited, Beximco Pharma, Uttara Bank, Apex Adelchi Footwear and Jamuna Oil were the other turnover leaders of the week.
Shaympur Sugar, United Leasing, Renwick Jajneswar, Zeal Bangla Sugar, Samorita Hospital, Meghna Petroleum Limited, Jamuna Oil, Trust Bank, Eastern Lubricants and Atlas Bangladesh were the top ten losers.
The A-category issues accounted for 82.63 per cent of the total turnover in value during the last week, while B-category issues shared 1.67 per cent, G-category 1.39 per cent, N-category 7.82 per cent and Z-category 6.49 per cent.
The Dhaka Stock Exchange (DSE) continued to remain buoyant in the week ended Thursday with a 45.18 per cent rise in the turnover led by AB Bank.
The AB Bank was the top turnover leader with Tk 1.8 billion traded, accounting for 15.21 per cent of the total market turnover on a strong rumour that it will recommend attractive dividend.
"The market showed rising trend as the season for announcing dividends by the listed companies has just begun and funds are being poured by a group of investors amid a buying spree," according to the market operators.
The trading on the prime bourse began in the opening trading day with a downbeat mood but ended in the reverse amid increased presence of investors.
The DSE in its opening trading day suspended trade for more than four hours due to 'technical fault' in its automated transactions, causing sufferings to the general investors. The disruption lasted for the longest period so far after the launching of online trading since August 10 of 1998.
All the market barometers - DSE General Index (DGEN), All Share Price Index (DSI) and DSE20 - gained 2.05 per cent or 59.99 points, 2.08 per cent or 51.63 points and 0.90 per cent or 20.84 points to close at 2991.37, 2528.00 and 2339.15 respectively on the last trading day of the week.
However, the price movement was seen by the analysts as risky for the general investors as prices of most of the securities were still overpriced.
They advised the small investors to justify the company fundamentals before deciding to buy the securities.
The daily average turnover was up by 45.18 per cent to Tk 2.45 billion in the week against Tk 1.69 billion previously. The total market capitalisation increased 1.68 per cent to Tk 817.73 billion from previous week's Tk 804.21 billion.
Out of 285 traded issues, share prices of 186 advanced, 65 declined, seven remained unchanged and 31 were not traded.
Among the top ten gainers, seven were from the pharmaceutical companies on the news that some companies would expand their businesses, which left cascading effect on the other companies.
The seven companies were Ambee Pharma, Therapeutics, Pharmaco International, BCIL, Glaxo SmithKline, Rahman Chemicals and Ibn Sina, recording a rise of 80.04 per cent, 61.90 per cent, 49.53 per cent, 48.39 per cent, 43.11 per cent, 42.67 per cent and 40.23 per cent respectively.
Other three gaining companies were 7th ICB, Kay and Que and Rahim Textile.
Of them 7th ICB Mutual Fund whopped by 85.57 per cent to become the top gainer on the disclosure of its better financial performance in the half year ended December 12,2007.
As per un-audited half yearly accounts as of December 31,2007, the 7th ICB Mutual Fund has reported net income of Tk. 38.20 million with earning per certificate of Tk. 127.34 against net loss of Tk. (0.13) million and earning per certificate of Tk. (0.44) as on December 31, 2006.
Square Pharmaceuticals was the second turnover leader with Tk 622.60 million traded, accounting for 5.07 per cent of the week's total turnover.
Grameen One, IFIC Bank, United Commercial Bank, ACI Limited, Beximco Pharma, Uttara Bank, Apex Adelchi Footwear and Jamuna Oil were the other turnover leaders of the week.
Shaympur Sugar, United Leasing, Renwick Jajneswar, Zeal Bangla Sugar, Samorita Hospital, Meghna Petroleum Limited, Jamuna Oil, Trust Bank, Eastern Lubricants and Atlas Bangladesh were the top ten losers.
The A-category issues accounted for 82.63 per cent of the total turnover in value during the last week, while B-category issues shared 1.67 per cent, G-category 1.39 per cent, N-category 7.82 per cent and Z-category 6.49 per cent.