Bearish trend dominates
FE Report | Saturday, 28 June 2008
The Dhaka Stock Exchange (DSE) continued to witness downtrend for the second straight week that ended Thursday.
The prime bourse opened negatively fearing market cooling measures taken by the DSE but finished positively as the investors went easy.
The market barometers -- the benchmark DSE General Index (DGEN) and DSE-20 (DS20), comprising blue chips, -- shed 16.23 points and 19.88 points to close at 3040.70 and 2517.58 respectively.
But All Shares Price Index (DSI) gained 17.58 points to end at 2597.84.
In the first session Sunday, a group of investors took to the street against the move to tame the unusual rise in the price of some particular issues.
The investors, however, felt somewhat comfortable and were back to the market from the third sessions when they presumed that the bourse might not intervene in the market ahead of beginning of share trading of the state run gas distribution company Titas that will make debut on July 2, according to the market operators.
The daily average turnover declined 11.68 per cent to Tk 2.14 billion from previous week's Tk 2.42 billion. Out of 286 issues traded, 88 advanced, 160 declined and four remained unchanged.
However, the total market capitalisation crossed $ 13 billion dollar-mark or Tk 900 billion-mark for the first time in the third session due to trading resumption of ICB Islami Bank, formerly known as Oriental Bank, after 24 months and three days.
The market capitalisation rose 4.91 per cent to Tk 933.88 billion, the record market cap in the week, against Tk 890.16 billion.
Since June 21, 2006, the securities regulator suspended the share trading of the bank because of the central bank's investigation into its financial scam.
In February last, the ICB Financial Holdings Group of Malaysia bought more than 50 per cent shares of the bank, paving the way for resuming the share trading.
Share prices of the bank, a Z-category issue, posted the highest gain of 143.70 per cent.
Northern Jute was the second top gainer with 19.25 per cent rise in its share prices, followed by Asia Pacific General Insurance 18.31 per cent, Lanka Bangla Finance Company 16.42 per cent, Mithun Knitting 13.95 per cent, Prime Islami Life Insurance 12.94 per cent, Janata Insurance 12.55 per cent, Union Capital 12.06 per cent, Progressive Life Insurance 11.74 per cent and Global Insurance 10.98 per cent.
Beximco Pharma, accounting for 6.38 per cent of the total transaction of the week, was the top turnover leader with shares worth Tk 773.65 million traded.
Accounting for 4.70 per cent, AIMS First Mutual Fund was the second top turnover leader with shares worth Tk 570.12 million changing hands and Square Pharma bagged the third position with shares worth Tk 535.14 million traded.
Other turnover leaders were Shahjalal Islami Bank, Lanka Bangla Finance Company, BEXIMCO, Lafarge Surma Cement, Apex Tannery, Exim Bank and NCC Bank Limited.
Of the top ten losers, five were from z-category and the same number from A-category.
Stock prices of Sreepur Textile, a Z-category issue, were the top losers, posting a fall of 13.51 per cent, followed by Beximco Fisheries 12.30 per cent, Samata Leather 11.88 per cent, Savar Refractories 10 per cent, 5th ICB Mutual Fund 9.75 per cent, Beximco Synthetics 9.53 per cent, BRAC Bank 9.43 per cent, Sonargaon Textiles 9.30 per cent, Tamijuddin Textile 9.14 per cent and National Polymer 9.01 per cent.
The A-category issues accounted for 83.46 per cent of the total turnover during the week, while B-category issues shared 1.32 per cent, G-category 2.13 per cent, N-category 9.18 per cent and Z-category 3.90 per cent.
The prime bourse opened negatively fearing market cooling measures taken by the DSE but finished positively as the investors went easy.
The market barometers -- the benchmark DSE General Index (DGEN) and DSE-20 (DS20), comprising blue chips, -- shed 16.23 points and 19.88 points to close at 3040.70 and 2517.58 respectively.
But All Shares Price Index (DSI) gained 17.58 points to end at 2597.84.
In the first session Sunday, a group of investors took to the street against the move to tame the unusual rise in the price of some particular issues.
The investors, however, felt somewhat comfortable and were back to the market from the third sessions when they presumed that the bourse might not intervene in the market ahead of beginning of share trading of the state run gas distribution company Titas that will make debut on July 2, according to the market operators.
The daily average turnover declined 11.68 per cent to Tk 2.14 billion from previous week's Tk 2.42 billion. Out of 286 issues traded, 88 advanced, 160 declined and four remained unchanged.
However, the total market capitalisation crossed $ 13 billion dollar-mark or Tk 900 billion-mark for the first time in the third session due to trading resumption of ICB Islami Bank, formerly known as Oriental Bank, after 24 months and three days.
The market capitalisation rose 4.91 per cent to Tk 933.88 billion, the record market cap in the week, against Tk 890.16 billion.
Since June 21, 2006, the securities regulator suspended the share trading of the bank because of the central bank's investigation into its financial scam.
In February last, the ICB Financial Holdings Group of Malaysia bought more than 50 per cent shares of the bank, paving the way for resuming the share trading.
Share prices of the bank, a Z-category issue, posted the highest gain of 143.70 per cent.
Northern Jute was the second top gainer with 19.25 per cent rise in its share prices, followed by Asia Pacific General Insurance 18.31 per cent, Lanka Bangla Finance Company 16.42 per cent, Mithun Knitting 13.95 per cent, Prime Islami Life Insurance 12.94 per cent, Janata Insurance 12.55 per cent, Union Capital 12.06 per cent, Progressive Life Insurance 11.74 per cent and Global Insurance 10.98 per cent.
Beximco Pharma, accounting for 6.38 per cent of the total transaction of the week, was the top turnover leader with shares worth Tk 773.65 million traded.
Accounting for 4.70 per cent, AIMS First Mutual Fund was the second top turnover leader with shares worth Tk 570.12 million changing hands and Square Pharma bagged the third position with shares worth Tk 535.14 million traded.
Other turnover leaders were Shahjalal Islami Bank, Lanka Bangla Finance Company, BEXIMCO, Lafarge Surma Cement, Apex Tannery, Exim Bank and NCC Bank Limited.
Of the top ten losers, five were from z-category and the same number from A-category.
Stock prices of Sreepur Textile, a Z-category issue, were the top losers, posting a fall of 13.51 per cent, followed by Beximco Fisheries 12.30 per cent, Samata Leather 11.88 per cent, Savar Refractories 10 per cent, 5th ICB Mutual Fund 9.75 per cent, Beximco Synthetics 9.53 per cent, BRAC Bank 9.43 per cent, Sonargaon Textiles 9.30 per cent, Tamijuddin Textile 9.14 per cent and National Polymer 9.01 per cent.
The A-category issues accounted for 83.46 per cent of the total turnover during the week, while B-category issues shared 1.32 per cent, G-category 2.13 per cent, N-category 9.18 per cent and Z-category 3.90 per cent.