Bearish trend continues
FE Report | Saturday, 2 August 2008
Stock prices of the Dhaka Stock Exchange (DSE) witnessed persistent slump for the seventh straight week that ended Thursday, with lower participation of the investors.
During the week, all the market barometers -- the benchmark DSE General Index (DGEN), All Shares Price Index (DSI) and DSE-20 (DS20), comprising blue chips, -- plummeted 117.03 points, 122.91 points and 109.89 points to close at 2761.05, 2369.03 and 2526.24 respectively.
The pulse of the market was negative during the week as the investors remained shaky in the event of continuous slide in Dhaka stocks, according the market operators.
To avoid further losses in the sluggish market, the investors, particularly the smaller ones, were on selling spree in the week, a stock broker said adding that the market is always hungry for good news.
However, the DSE suggested the investors to have patience as unaudited half-yearly account reports of the listed companies, the bourse is receiving, are showing that most of the companies' corporate profits are impressive.
The daily average turnover, however, was up 4.14 per cent to Tk 3.18 billion from previous week's Tk 3.30 billion. In the week, majority of share prices declined as out of 287 issues traded, 63 advanced, 183 declined, eight remained unchanged and 33 not traded.
But, the total market capitalisation was down 1.17 per cent to Tk 955.79 billion against the previous week's Tk 967.12 billion.
The ICB AMCL Second NRB Mutual Fund made debut at the stock markets in the first session Sunday.
Grameen Mutual Fund One posted the highest gain of 33.21 per cent on the speculation that the fund might get a portion of the private placement shares from Grameenphone, the leading cell phone operator in the country, expected to make debut by the end of the year.
Wonder Toys was, a Z-category issue, the second top gainer with 28.95 per cent rise in its share prices, followed by Apex Spinning 17.36 per cent, BD Thai Aluminum 17.10 per cent, Progressive Life Insurance 16.93 per cent and Standard Ceramic 14.40 per cent.
Beximco Pharma, accounting for 6.73 per cent of the total transaction of the week, was the top turnover leader with shares worth Tk 1.07 billion traded.
Accounting for 5.53 per cent, UCBL, a Z-category issue, was the second top turnover leader with shares worth Tk 876.27 million changing hands and also the top loser posting 48.77 per cent fall in its share prices as the bank went ex-dividend in the week.
Keya Cosmetics bagged the third position with shares worth Tk 788.75 million traded.
Other turnover leaders were Beximco, Sqaure Pharma, Garmeen Mutual Fund One, BATBC, ACI Limited, Lanka Bangla Finance Company and Square Textile.
Fareast Life Insurance was the second top loser, registering a fall of 32.04 per cent, followed by 7th ICB Mutual Fund 29.53 per cent, Confidence Cement 18.88 per cent, Lexco 18.53 per cent, Bionic Sea Foods 17.07 per cent and Islami Bank Limited 17.00 per cent.
The A-category issue accounted for 86.32 per cent of the total turnover during the week, while B-category issue shared 1.27 per cent, N-category 2.70 per cent and Z-category 9.71 per cent.
During the week, all the market barometers -- the benchmark DSE General Index (DGEN), All Shares Price Index (DSI) and DSE-20 (DS20), comprising blue chips, -- plummeted 117.03 points, 122.91 points and 109.89 points to close at 2761.05, 2369.03 and 2526.24 respectively.
The pulse of the market was negative during the week as the investors remained shaky in the event of continuous slide in Dhaka stocks, according the market operators.
To avoid further losses in the sluggish market, the investors, particularly the smaller ones, were on selling spree in the week, a stock broker said adding that the market is always hungry for good news.
However, the DSE suggested the investors to have patience as unaudited half-yearly account reports of the listed companies, the bourse is receiving, are showing that most of the companies' corporate profits are impressive.
The daily average turnover, however, was up 4.14 per cent to Tk 3.18 billion from previous week's Tk 3.30 billion. In the week, majority of share prices declined as out of 287 issues traded, 63 advanced, 183 declined, eight remained unchanged and 33 not traded.
But, the total market capitalisation was down 1.17 per cent to Tk 955.79 billion against the previous week's Tk 967.12 billion.
The ICB AMCL Second NRB Mutual Fund made debut at the stock markets in the first session Sunday.
Grameen Mutual Fund One posted the highest gain of 33.21 per cent on the speculation that the fund might get a portion of the private placement shares from Grameenphone, the leading cell phone operator in the country, expected to make debut by the end of the year.
Wonder Toys was, a Z-category issue, the second top gainer with 28.95 per cent rise in its share prices, followed by Apex Spinning 17.36 per cent, BD Thai Aluminum 17.10 per cent, Progressive Life Insurance 16.93 per cent and Standard Ceramic 14.40 per cent.
Beximco Pharma, accounting for 6.73 per cent of the total transaction of the week, was the top turnover leader with shares worth Tk 1.07 billion traded.
Accounting for 5.53 per cent, UCBL, a Z-category issue, was the second top turnover leader with shares worth Tk 876.27 million changing hands and also the top loser posting 48.77 per cent fall in its share prices as the bank went ex-dividend in the week.
Keya Cosmetics bagged the third position with shares worth Tk 788.75 million traded.
Other turnover leaders were Beximco, Sqaure Pharma, Garmeen Mutual Fund One, BATBC, ACI Limited, Lanka Bangla Finance Company and Square Textile.
Fareast Life Insurance was the second top loser, registering a fall of 32.04 per cent, followed by 7th ICB Mutual Fund 29.53 per cent, Confidence Cement 18.88 per cent, Lexco 18.53 per cent, Bionic Sea Foods 17.07 per cent and Islami Bank Limited 17.00 per cent.
The A-category issue accounted for 86.32 per cent of the total turnover during the week, while B-category issue shared 1.27 per cent, N-category 2.70 per cent and Z-category 9.71 per cent.