Debutante leads the stock rally
Saturday, 6 October 2007
FE Report
Substantial trading of Trust Bank shares triggered stock prices, turnover and market capitalisation on the Dhaka Stock Exchange (DSE) in the week ended Thursday.
The total market capitalisation of the DSE hit a new record when it crossed $ 9 billion-mark in the week against $ 8.83 billion in the previous week.
The market capitalisation surged to Tk 638.49 billion or $ 9.25 billion at the end of the week.
The daily average turnover marked a 35.68 per cent rise against the previous week at Tk 1.85 billion.
Trust Bank shares made the debut Monday and created a havoc with Tk 1.46 billion traded accounting for 15.75 per cent of the total turnover of the week in its four days' transactions.
The closing price of each Trust Bank share was Tk 851.00 Thursday though the offer price was Tk 150 with a premium of Tk 50 each.
The Trust Bank IPO was oversubscribed by about 11 times when the bank floated a total of 4,666,700 shares worth Tk 700 million. The subscription ended July 28 last.
"Investors both retail and institutional were enthusiastic on the buying of Trust Bank shares and it spurred the investors to buy other issues also to create a very positive impact on the market last week," said Sharif Ataur Rahman, the vice president of DSE.
All the market barometers- DSE General Index or DGEN, All Shares Price Index or DSI and DS 20- gained 127.26 points, 117.26 points and 48.45 points respectively.
DSE General Index or DGEN, All Shares Price Index or DSI and DS 20 closed at 2672.16, 2219.75 and 2056.78 points respectively.
Out of 278 listed issues, 140 gained, 85 declined, 12 remained unchanged and 41 were not traded.
Apart from Trust Bank, the other top turnover leaders in the week were AB Bank, BRAC Bank, AIMS First Mutual Fund, Summit Power, UCBL, Heidelberg Cement, Grameen One, Power Grid and LankaBangla Finance.
Four Z-category companies- Rose Heaven Ball, Lexco, Tripti and Bd Welding- were the top four gainers in the week with 52.17 per cent, 30.77 per cent, 26.74 per cent and 25.89 per cent rises respectively against the previous week.
AB Bank and IFIC Bank gained 24.28 per cent and 21.51 per cent respectively.
Meanwhile, the stock market trading will remain closed for six days with effect from Wednesday next due to Lailatul Qadr and Eid-ul-Fitr holidays.
Substantial trading of Trust Bank shares triggered stock prices, turnover and market capitalisation on the Dhaka Stock Exchange (DSE) in the week ended Thursday.
The total market capitalisation of the DSE hit a new record when it crossed $ 9 billion-mark in the week against $ 8.83 billion in the previous week.
The market capitalisation surged to Tk 638.49 billion or $ 9.25 billion at the end of the week.
The daily average turnover marked a 35.68 per cent rise against the previous week at Tk 1.85 billion.
Trust Bank shares made the debut Monday and created a havoc with Tk 1.46 billion traded accounting for 15.75 per cent of the total turnover of the week in its four days' transactions.
The closing price of each Trust Bank share was Tk 851.00 Thursday though the offer price was Tk 150 with a premium of Tk 50 each.
The Trust Bank IPO was oversubscribed by about 11 times when the bank floated a total of 4,666,700 shares worth Tk 700 million. The subscription ended July 28 last.
"Investors both retail and institutional were enthusiastic on the buying of Trust Bank shares and it spurred the investors to buy other issues also to create a very positive impact on the market last week," said Sharif Ataur Rahman, the vice president of DSE.
All the market barometers- DSE General Index or DGEN, All Shares Price Index or DSI and DS 20- gained 127.26 points, 117.26 points and 48.45 points respectively.
DSE General Index or DGEN, All Shares Price Index or DSI and DS 20 closed at 2672.16, 2219.75 and 2056.78 points respectively.
Out of 278 listed issues, 140 gained, 85 declined, 12 remained unchanged and 41 were not traded.
Apart from Trust Bank, the other top turnover leaders in the week were AB Bank, BRAC Bank, AIMS First Mutual Fund, Summit Power, UCBL, Heidelberg Cement, Grameen One, Power Grid and LankaBangla Finance.
Four Z-category companies- Rose Heaven Ball, Lexco, Tripti and Bd Welding- were the top four gainers in the week with 52.17 per cent, 30.77 per cent, 26.74 per cent and 25.89 per cent rises respectively against the previous week.
AB Bank and IFIC Bank gained 24.28 per cent and 21.51 per cent respectively.
Meanwhile, the stock market trading will remain closed for six days with effect from Wednesday next due to Lailatul Qadr and Eid-ul-Fitr holidays.