Dhaka stocks' downtrend continues
FE Report | Saturday, 26 July 2008
The Dhaka Stock Exchange (DSE) witnessed persistent downtrend in all but one session in week that ended Thursday amid increase in the turnover.
The market barometers -- DSE General Index (DGEN) and All Share Price Index (DSI) - lost 11.27 points and 9.50 points to close at 2878.08 and 2491.94 respectively on the last trading day of the week.
However, the DSE 20, comprising blue chips, gained 33.97 points to end at 2636.13.
During the week, the prime bourse experienced price erosion in four straight sessions excepting the last session Thursday when the benchmark DGEN soared by 105.56 points or 3.08 per cent to close at 2878.08, its biggest gain since November 26 last year.
The market lost its rhythm during the week as the investors remained shaky about the various moves taken by the securities regulator and the bourse, according to the market operators.
However, it was back on the gaining streak on the last session because of the news of Grameenphone's application for initial public offering (IPO) by month-end and healthy corporate declarations by some companies.
Of the ten losers, six were from mutual fund issues. Stock prices of the mutual funds eroded because of the Securities and Exchange Commission's approval to a proposal on review of the mutual fund rules that seeking to restrict preemptive rights and bonus shares to its unit holders.
During the week, Sandhani Life Insurance had the biggest loss of 24.30 per cent, followed by 6th ICB Mutual Fund 18.53 per cent, Square Pharma 18.33 per cent, 8th ICB 18.03 per cent, 3rd ICB 16.76 per cent, AIMS First Mutual Fund 16.45 per cent, Libra Infusions Limited 15.78 per cent, 5th ICB Mutual Fund 15.32 per cent, 2nd ICB Mutual Fund 14.50 per cent and Prime Islami Life Insurance 14.47 per cent.
The daily average turnover, however, was up by 19.08 per cent to Tk 3.30 billion in the week against Tk 2.78 billion previously. The total market capitalisation came down slightly 0.23 per cent to Tk 967.12 billion from previous week's Tk 969.35 billion.
Out of 286 traded issues, share prices of 94 advanced, 151 declined, four remained unchanged and 37 were not traded.
Stock prices of BD Thai Aluminum, the Z-category issue, was the biggest gainer of 51.19 per cent, followed by Wata Chemicals 48.21 per cent, Rahman Chemicals 41.67 per cent, BATBC 35.15 per cent, Therapeutics 26.32 per cent and Islami Bank 19.78 per cent.
Beximco Pharma was the top turnover leader with shares worth Tk 1.32 billion trading, accounting for 7.97 per cent of the total market turnover.
Square Pharma was the second turnover leader with Tk 1.16 billion trading, accounting for 6.95 per cent of the week's total turnover.
ACI Limited, UCBL, Keya Cosmetics, BATBC, Beximco, Lanka Bangla Finance Company, Apex Adelchi Footwear and Islami Bank were the other turnover leaders of the week.
The A-category issues accounted for 83.75 per cent of the total turnover in value during the last week, while B-category issues shared 1.00 per cent, N-category 3.45 per cent and Z-category 11.80 per cent.
The market barometers -- DSE General Index (DGEN) and All Share Price Index (DSI) - lost 11.27 points and 9.50 points to close at 2878.08 and 2491.94 respectively on the last trading day of the week.
However, the DSE 20, comprising blue chips, gained 33.97 points to end at 2636.13.
During the week, the prime bourse experienced price erosion in four straight sessions excepting the last session Thursday when the benchmark DGEN soared by 105.56 points or 3.08 per cent to close at 2878.08, its biggest gain since November 26 last year.
The market lost its rhythm during the week as the investors remained shaky about the various moves taken by the securities regulator and the bourse, according to the market operators.
However, it was back on the gaining streak on the last session because of the news of Grameenphone's application for initial public offering (IPO) by month-end and healthy corporate declarations by some companies.
Of the ten losers, six were from mutual fund issues. Stock prices of the mutual funds eroded because of the Securities and Exchange Commission's approval to a proposal on review of the mutual fund rules that seeking to restrict preemptive rights and bonus shares to its unit holders.
During the week, Sandhani Life Insurance had the biggest loss of 24.30 per cent, followed by 6th ICB Mutual Fund 18.53 per cent, Square Pharma 18.33 per cent, 8th ICB 18.03 per cent, 3rd ICB 16.76 per cent, AIMS First Mutual Fund 16.45 per cent, Libra Infusions Limited 15.78 per cent, 5th ICB Mutual Fund 15.32 per cent, 2nd ICB Mutual Fund 14.50 per cent and Prime Islami Life Insurance 14.47 per cent.
The daily average turnover, however, was up by 19.08 per cent to Tk 3.30 billion in the week against Tk 2.78 billion previously. The total market capitalisation came down slightly 0.23 per cent to Tk 967.12 billion from previous week's Tk 969.35 billion.
Out of 286 traded issues, share prices of 94 advanced, 151 declined, four remained unchanged and 37 were not traded.
Stock prices of BD Thai Aluminum, the Z-category issue, was the biggest gainer of 51.19 per cent, followed by Wata Chemicals 48.21 per cent, Rahman Chemicals 41.67 per cent, BATBC 35.15 per cent, Therapeutics 26.32 per cent and Islami Bank 19.78 per cent.
Beximco Pharma was the top turnover leader with shares worth Tk 1.32 billion trading, accounting for 7.97 per cent of the total market turnover.
Square Pharma was the second turnover leader with Tk 1.16 billion trading, accounting for 6.95 per cent of the week's total turnover.
ACI Limited, UCBL, Keya Cosmetics, BATBC, Beximco, Lanka Bangla Finance Company, Apex Adelchi Footwear and Islami Bank were the other turnover leaders of the week.
The A-category issues accounted for 83.75 per cent of the total turnover in value during the last week, while B-category issues shared 1.00 per cent, N-category 3.45 per cent and Z-category 11.80 per cent.