Dhaka stocks close year at all-time high
Saturday, 2 January 2010
FE Report
The Dhaka Stock Exchange (DSE) witnessed a bullish mood in the last trading week of the year amid shortened trading due to holidays.
The major sectors -- banks, telecommunication, non-banking financial institutions, pharmaceuticals and energy -- were able to close higher, pulling back from the previous week's declining trend.
During the week that ended Thursday, the DSE General Index (DGEN) -- the main index of the bourse - surged by 106.34 points or 2.40 per cent to close at 4535.53, an all time high.
Two other junior market barometers-- All Shares Price Index (DSI) jumped by 81.67 points or 2.23 per cent and DSE-20 comprising blue chips surged by 75.24 points or 2.96 per cent to 26113.49.
The trading time of DSE will remain unchanged despite setting the clock back by an hour Thursday night to the original Bangladesh Standard Time.
There were only three trading days instead of five in the week as the prime bourse of the country remained closed Monday and Tuesday due to the holy Ashura and the year-end bank holiday respectively. The market gained in all the three trading sessions.
Despite shortened trading, the daily average turnover showed a remarkable improvement to stand at Tk 8.70 billion, up by 26 per cent from the previous week's Tk 6.90 billion.
Bears outnumbered bulls on the main board as out of the total 256 issues, the value of 107 scrips advanced, 129 declined, two remained unchanged and 18 were not traded.
The banking sector -- the bellwether of the market -- gained 2.90 per cent and Grameenphone -- the largest mobile phone service operator and most-weighted issue of the DSE- edged 2.74 per cent higher during the week.
But the week's biggest movers were NBFIs and the tannery sector rising 6.70 per cent and 7.64 per cent respectively.
Pharmaceutical issues rose 1.39 per cent, energy 1.22 per cent and life insurance companies 1.33 per cent.
Mutual funds were the biggest losers shedding 4.39 per cent. General insurance companies and the cement sector went down marginally dropping 0.43 per cent and 0.04 per cent respectively.
Prime Bank, a leading private bank, was the top turnover leader with shares worth Tk 1.54 billion changing hands.
The Dhaka Stock Exchange (DSE) witnessed a bullish mood in the last trading week of the year amid shortened trading due to holidays.
The major sectors -- banks, telecommunication, non-banking financial institutions, pharmaceuticals and energy -- were able to close higher, pulling back from the previous week's declining trend.
During the week that ended Thursday, the DSE General Index (DGEN) -- the main index of the bourse - surged by 106.34 points or 2.40 per cent to close at 4535.53, an all time high.
Two other junior market barometers-- All Shares Price Index (DSI) jumped by 81.67 points or 2.23 per cent and DSE-20 comprising blue chips surged by 75.24 points or 2.96 per cent to 26113.49.
The trading time of DSE will remain unchanged despite setting the clock back by an hour Thursday night to the original Bangladesh Standard Time.
There were only three trading days instead of five in the week as the prime bourse of the country remained closed Monday and Tuesday due to the holy Ashura and the year-end bank holiday respectively. The market gained in all the three trading sessions.
Despite shortened trading, the daily average turnover showed a remarkable improvement to stand at Tk 8.70 billion, up by 26 per cent from the previous week's Tk 6.90 billion.
Bears outnumbered bulls on the main board as out of the total 256 issues, the value of 107 scrips advanced, 129 declined, two remained unchanged and 18 were not traded.
The banking sector -- the bellwether of the market -- gained 2.90 per cent and Grameenphone -- the largest mobile phone service operator and most-weighted issue of the DSE- edged 2.74 per cent higher during the week.
But the week's biggest movers were NBFIs and the tannery sector rising 6.70 per cent and 7.64 per cent respectively.
Pharmaceutical issues rose 1.39 per cent, energy 1.22 per cent and life insurance companies 1.33 per cent.
Mutual funds were the biggest losers shedding 4.39 per cent. General insurance companies and the cement sector went down marginally dropping 0.43 per cent and 0.04 per cent respectively.
Prime Bank, a leading private bank, was the top turnover leader with shares worth Tk 1.54 billion changing hands.