Dhaka stocks continue to rise
FE Report | Monday, 4 April 2011
FE Report
Dhaka stocks maintained its upward trend on the opening day of the week Sunday with all indices gained more than 1.0 per cent. The country's premium bourse gained for the three straight sessions on the first working day of the week. Buying pressure, both from institutional and retail investors, jacked the share prices of most sectors up, dealers said. The DSE General Index (DGEN), main gauge of the market, ended at 6,447.00, rising 94.90 points or 1.49 per cent. The broader DSE All Shares Price Index (DSI) went up by 73.45 points or 1.39 per cent to 5,348.58. The DSE-20 blue chip index rose 78.92 points or 1.99 per cent to 4,047.31. The market started the day with a strong note in the morning gaining more than 80 points within five minutes of the resumption of the trading and the momentum continued until the closure, as the investors went for fresh buying mainly in banking and non-banking financial institutions (NBFIs) issues and finally ended the day 94 points higher. "The investors' confidence has been enhanced at the news that the regulatory body is going to give approval to the Tk 50 billion "Bangladesh Fund" and they went for fresh buying," said AB Mirza Azizul Islam, former finance adviser of the caretaker government. "The market also behaved rational and it was almost stable in the last few sessions which is a good sign for the overall market," said Mr Islam, who led the Securities and Exchange Commission (SEC) as its chairman from November 1, 2003 to February 22, 2006. "Investors seem to be investing now after analysing companies' fundamental," said Mr Islam. Mr Yawer Sayeed, managing director and CEO of AIMS of Bangladesh, said that the participation of retail investors had been increasing in the daily trading due to positive news in connection with the 'Bangladesh Fund'. "Healthy corporate declaration of some companies also contributed to the market," Mr Sayeed added. However, on Sunday, the day's total turnover slightly decreased and stood at Tk 10.27 billion, in value terms, from Tk 10.49 billion in the previous trading session. A total of 77.97 million shares changed hands on the day against 71.19 million in the previous session. The trade deals also increased to 200,354 against 194,480 in the previous session. The market capitalisation slightly increased to Tk 2,878.34 billion against Tk 2,855.30 billion Thursday. Out of total 260 issues traded on the day, 144 advanced, 108 declined and eight issues remained unchanged. Banking sector, the market's bellwether, was the biggest gainer on the day. Among the 30 listed banks in the banking sector---all banks gained except Rupali Bank and Social Islami Bank Limited. And the sector gained overall by 3.58 per cent. In the NBFIs sector, of the total 20 issues traded on the day, 15 advanced while five issues lost in prices and the sector gained 1.90 per cent. In the pharmaceuticals sector out of 20 issues, 11 issues gained and nine issues lost on the day. The sector gained 0.50 per cent. On the day, general insurance gained 1.36 per cent, life insurance 0.36 per cent and ceramics 0.61 per cent while fuel and power lost 0.40 per cent cement 2.07 per cent, textile 1.77 per cent and mutual fund 0.18 per cent. Grameenphone, the most weighted share in the DSE, lost Tk 2.90 per share or 2.01 per cent and closed at Tk 170.40 each in the trading session after advanced Tk 7.70 per share in the previous session. Aftab Automobiles topped the turnover list in the engineering sector with shares worth Tk 522.60 million changed hands. The other turnover leaders were Beximco Limited, National Bank, Bextex Limited, BSRM Steel, Titas Gas, Union Capital, Fu-Wang Ceramics, Golden Sons and Jamuna Oil. United Leasing was the highest gainer on the day posting 10.20 per cent gain following its corporate declaration. Alltex Industries was the day's top loser followed by Kay and Que, United Insurance, Anlima Yarn, Tallu Spinning, HR Textile, Anwar Galvanising, Safko Spinning, Aziz Pipes and BD Autocars.
Dhaka stocks maintained its upward trend on the opening day of the week Sunday with all indices gained more than 1.0 per cent. The country's premium bourse gained for the three straight sessions on the first working day of the week. Buying pressure, both from institutional and retail investors, jacked the share prices of most sectors up, dealers said. The DSE General Index (DGEN), main gauge of the market, ended at 6,447.00, rising 94.90 points or 1.49 per cent. The broader DSE All Shares Price Index (DSI) went up by 73.45 points or 1.39 per cent to 5,348.58. The DSE-20 blue chip index rose 78.92 points or 1.99 per cent to 4,047.31. The market started the day with a strong note in the morning gaining more than 80 points within five minutes of the resumption of the trading and the momentum continued until the closure, as the investors went for fresh buying mainly in banking and non-banking financial institutions (NBFIs) issues and finally ended the day 94 points higher. "The investors' confidence has been enhanced at the news that the regulatory body is going to give approval to the Tk 50 billion "Bangladesh Fund" and they went for fresh buying," said AB Mirza Azizul Islam, former finance adviser of the caretaker government. "The market also behaved rational and it was almost stable in the last few sessions which is a good sign for the overall market," said Mr Islam, who led the Securities and Exchange Commission (SEC) as its chairman from November 1, 2003 to February 22, 2006. "Investors seem to be investing now after analysing companies' fundamental," said Mr Islam. Mr Yawer Sayeed, managing director and CEO of AIMS of Bangladesh, said that the participation of retail investors had been increasing in the daily trading due to positive news in connection with the 'Bangladesh Fund'. "Healthy corporate declaration of some companies also contributed to the market," Mr Sayeed added. However, on Sunday, the day's total turnover slightly decreased and stood at Tk 10.27 billion, in value terms, from Tk 10.49 billion in the previous trading session. A total of 77.97 million shares changed hands on the day against 71.19 million in the previous session. The trade deals also increased to 200,354 against 194,480 in the previous session. The market capitalisation slightly increased to Tk 2,878.34 billion against Tk 2,855.30 billion Thursday. Out of total 260 issues traded on the day, 144 advanced, 108 declined and eight issues remained unchanged. Banking sector, the market's bellwether, was the biggest gainer on the day. Among the 30 listed banks in the banking sector---all banks gained except Rupali Bank and Social Islami Bank Limited. And the sector gained overall by 3.58 per cent. In the NBFIs sector, of the total 20 issues traded on the day, 15 advanced while five issues lost in prices and the sector gained 1.90 per cent. In the pharmaceuticals sector out of 20 issues, 11 issues gained and nine issues lost on the day. The sector gained 0.50 per cent. On the day, general insurance gained 1.36 per cent, life insurance 0.36 per cent and ceramics 0.61 per cent while fuel and power lost 0.40 per cent cement 2.07 per cent, textile 1.77 per cent and mutual fund 0.18 per cent. Grameenphone, the most weighted share in the DSE, lost Tk 2.90 per share or 2.01 per cent and closed at Tk 170.40 each in the trading session after advanced Tk 7.70 per share in the previous session. Aftab Automobiles topped the turnover list in the engineering sector with shares worth Tk 522.60 million changed hands. The other turnover leaders were Beximco Limited, National Bank, Bextex Limited, BSRM Steel, Titas Gas, Union Capital, Fu-Wang Ceramics, Golden Sons and Jamuna Oil. United Leasing was the highest gainer on the day posting 10.20 per cent gain following its corporate declaration. Alltex Industries was the day's top loser followed by Kay and Que, United Insurance, Anlima Yarn, Tallu Spinning, HR Textile, Anwar Galvanising, Safko Spinning, Aziz Pipes and BD Autocars.