Bull run continues at DSE for 5th session
Tuesday, 16 November 2010
FE Report
Dhaka stocks continued their bullish run for the fifth straight session Monday, riding on banks and heavyweight Grameenphone (GP).
"The banking stocks are soaring, as investors are rushing to take a position in the sector, expecting healthy corporate declaration after the year-end," said Nasiruddin Chowdhury, chief executive officer of Lanka Bangla Securities Limited.
The market opened on the day with an enthusiastic note, and the DGEN increased 100 points within the first five minutes. The momentum continued until the closure.
As a result, the benchmark DSE General Index (DGEN), the main gauge of the market, ended at a fresh high of 8,443.34 with a rise of 1.63 per cent or 135.64 points.
The broader All Shares Price Index (DSI) moved up by 1.65 per cent or 113.93 points to 7007.97. The DSE-20 Index comprising blue chips was up by 1.92 per cent or 95.96 points to 5074.24.
Fresh fund flow and third quarter positive earnings continued to encourage the investors to snap up issues, particularly the banking issues, dealers said.
Banking sector soared 2.53 per cent on the day. Among the 30 listed banks in the DSE, 29 were in the green territory, with only one in the red, like the previous session.
Fuel and Power sector was the only loser among the major sectors. Cement sector gained 9.05 per cent, pharmaceuticals 0.50 per cent, and non-banking financial institutions (NBFIs) 1.58 per cent.
Grameenphone, the most weighted shares in the DSE, climbed 4.03 per cent, notching up its fourth straight session of gain.
The day's turnover was Tk 25.73 billion, showing an increase of 17 per cent over the previous session. Gainers took a lead over the losers, as out of the 239 issues traded, 192 advanced, 41 declined, and six remained unchanged.
United Commercial Bank topped the turnover list with shares worth Tk 1.07 billion changing hands. Other turnover leaders were Beximco Limited, Southeast Bank, Social Investment Bank Limited, AB Bank, Square Pharma, Islami Bank, Peoples Leasing, and Shahjalal Bank.
Dulamia Cotton was the highest gainer, posting a rise of 17.49 per cent, which was followed by Malek Spinning, Federal Insurance, Desh Garment, HR Textile, Monno Ceramics, Hakkani Pulp and Paper, Sonali Aansh, and Rahima Food.
The prominent losers included Shaiham Textile, Seventh ICB, BSC, Second ICB, DESCO, and Renata.
Dhaka stocks continued their bullish run for the fifth straight session Monday, riding on banks and heavyweight Grameenphone (GP).
"The banking stocks are soaring, as investors are rushing to take a position in the sector, expecting healthy corporate declaration after the year-end," said Nasiruddin Chowdhury, chief executive officer of Lanka Bangla Securities Limited.
The market opened on the day with an enthusiastic note, and the DGEN increased 100 points within the first five minutes. The momentum continued until the closure.
As a result, the benchmark DSE General Index (DGEN), the main gauge of the market, ended at a fresh high of 8,443.34 with a rise of 1.63 per cent or 135.64 points.
The broader All Shares Price Index (DSI) moved up by 1.65 per cent or 113.93 points to 7007.97. The DSE-20 Index comprising blue chips was up by 1.92 per cent or 95.96 points to 5074.24.
Fresh fund flow and third quarter positive earnings continued to encourage the investors to snap up issues, particularly the banking issues, dealers said.
Banking sector soared 2.53 per cent on the day. Among the 30 listed banks in the DSE, 29 were in the green territory, with only one in the red, like the previous session.
Fuel and Power sector was the only loser among the major sectors. Cement sector gained 9.05 per cent, pharmaceuticals 0.50 per cent, and non-banking financial institutions (NBFIs) 1.58 per cent.
Grameenphone, the most weighted shares in the DSE, climbed 4.03 per cent, notching up its fourth straight session of gain.
The day's turnover was Tk 25.73 billion, showing an increase of 17 per cent over the previous session. Gainers took a lead over the losers, as out of the 239 issues traded, 192 advanced, 41 declined, and six remained unchanged.
United Commercial Bank topped the turnover list with shares worth Tk 1.07 billion changing hands. Other turnover leaders were Beximco Limited, Southeast Bank, Social Investment Bank Limited, AB Bank, Square Pharma, Islami Bank, Peoples Leasing, and Shahjalal Bank.
Dulamia Cotton was the highest gainer, posting a rise of 17.49 per cent, which was followed by Malek Spinning, Federal Insurance, Desh Garment, HR Textile, Monno Ceramics, Hakkani Pulp and Paper, Sonali Aansh, and Rahima Food.
The prominent losers included Shaiham Textile, Seventh ICB, BSC, Second ICB, DESCO, and Renata.