Dhaka stocks gain 129.64 points
Friday, 13 May 2011
FE Report
Dhaka stocks rebounded Thursday and gained more than two per cent after two sessions of losses as investors went for fresh buying following some positive steps taken by the government. On Wednesday, National Board of Revenue (NBR) sought bank account information of 15 senior functionaries related with the capital market including chairman of SEC and DSE president. The benchmark DSE General Index (DGEN), main gauge of the market went up by 129.64 points or 2.36 per cent to close at 5,612.52. The broader All Shares Price Index (DSI) rose 108.00 points or 2.37 per cent and close to 4,671.86. The DSE-20 index comprising blue-chip shares also rose 55.73 points or 1.54 per cent to 3,681.66. Yawer Sayeed, manging director of AIMS of Bangladesh said the government steps regarding seeking bank accounts of 15 high-ups including the Securities and Exchange Commission (SEC) chairman and officials of Dhaka Stock Exchange (DSE) and Investment Corporation of Bangladesh (ICB) positively attracted the investors. "The government is very much positive to stablise the market and sought 15 people bank accounts including SEC chairman and officials of DSE and ICB and it gave a positive signal among the investors," said Mr. Sayeed. According to media reports, the National Board of Revenue has sought information on five years' bank transactions of 15 high-ups as their names appeared in one way or other in the report of the committee probing share market scam. The NBR sought the information to scrutinize whether their wealth was consistent with the income they showed in their income tax returns. Salauddin Ahmed Khan, a finance teacher of the Dhaka University, said some institutional investors may participate in the market as the government pressured them which may be cause of market surge. However, the market opened with a negative note in the morning and lost more than 40 points within ten minutes of resumption of trading. After that the DGEN went up gradually amid moderate ups and down and finally closed 129 points higher. A total of 53.45 million shares changed hands on the day against 35.31 million in the previous session. The trade deals also increased to 124,520 against 88,217 in the previous session. Total market capitalization also increased and stood at Tk 2,613.11 billion against Tk 2,563.74 billion in the previous session. Share prices of most of issues traded on the day advanced as out of 249 issues traded, 228 advanced, only 17 declined while four remained unchanged. All sectors closed in deep green zone on the day with insurance sector was biggest gainer with general insurance and life insurance gained 5.06 per cent, and 4.67 per cent respectively. Banking issues, which make up more than one-third of the market capitalization gained, snapping several sessions of losses. Among 30 listed banks traded 29 gained and only Trust Bank closed negative. Overall the sector gained 1.19 per cent on the day. Grameenphone, the most weighted shares in the DSE, was back on track and rising 1.85 per cent on the day. Among the major sectors NBFIs gained 3.73 per cent, pharmaceuticals 2.21 per cent, fuel and power 1.34 per cent, mutual fund 1.46 per cent, cement 2.46 per cent, textile 2.34 per cent and ceramics gained 5.02 per cent. Beximco Limited topped the turnover list with shares worth Tk 364.80 million changing hands. Other turnover leaders were Bextex, BSRM Steels, Titas Gas, Aftab Automobiles, United Airways, RN Spinning, RAK Ceramics, Peoples Leasing and Makson Spinning. Beximco Limited, Renata, Bextex and Beximco Pharma were the day's top losers, losing 31.12 per cent, 17.65 per cent and 17.64 per cent and 16.51 per cent respectively following their price adjustment after record date. Karnaphuli Insurance, BD Thai, Shinepukur Ceramics, Modern Dying and Pioneer Insurance were other top losers. BD Finance was the day's top gainer posting 9.90 per cent rise. It was followed by Asia Insurance, BD Com, Fine Food, Prime Insurance, BD Welding, Golden Son, Deshbandhu Polymer, Intech and City General Insurance.
Dhaka stocks rebounded Thursday and gained more than two per cent after two sessions of losses as investors went for fresh buying following some positive steps taken by the government. On Wednesday, National Board of Revenue (NBR) sought bank account information of 15 senior functionaries related with the capital market including chairman of SEC and DSE president. The benchmark DSE General Index (DGEN), main gauge of the market went up by 129.64 points or 2.36 per cent to close at 5,612.52. The broader All Shares Price Index (DSI) rose 108.00 points or 2.37 per cent and close to 4,671.86. The DSE-20 index comprising blue-chip shares also rose 55.73 points or 1.54 per cent to 3,681.66. Yawer Sayeed, manging director of AIMS of Bangladesh said the government steps regarding seeking bank accounts of 15 high-ups including the Securities and Exchange Commission (SEC) chairman and officials of Dhaka Stock Exchange (DSE) and Investment Corporation of Bangladesh (ICB) positively attracted the investors. "The government is very much positive to stablise the market and sought 15 people bank accounts including SEC chairman and officials of DSE and ICB and it gave a positive signal among the investors," said Mr. Sayeed. According to media reports, the National Board of Revenue has sought information on five years' bank transactions of 15 high-ups as their names appeared in one way or other in the report of the committee probing share market scam. The NBR sought the information to scrutinize whether their wealth was consistent with the income they showed in their income tax returns. Salauddin Ahmed Khan, a finance teacher of the Dhaka University, said some institutional investors may participate in the market as the government pressured them which may be cause of market surge. However, the market opened with a negative note in the morning and lost more than 40 points within ten minutes of resumption of trading. After that the DGEN went up gradually amid moderate ups and down and finally closed 129 points higher. A total of 53.45 million shares changed hands on the day against 35.31 million in the previous session. The trade deals also increased to 124,520 against 88,217 in the previous session. Total market capitalization also increased and stood at Tk 2,613.11 billion against Tk 2,563.74 billion in the previous session. Share prices of most of issues traded on the day advanced as out of 249 issues traded, 228 advanced, only 17 declined while four remained unchanged. All sectors closed in deep green zone on the day with insurance sector was biggest gainer with general insurance and life insurance gained 5.06 per cent, and 4.67 per cent respectively. Banking issues, which make up more than one-third of the market capitalization gained, snapping several sessions of losses. Among 30 listed banks traded 29 gained and only Trust Bank closed negative. Overall the sector gained 1.19 per cent on the day. Grameenphone, the most weighted shares in the DSE, was back on track and rising 1.85 per cent on the day. Among the major sectors NBFIs gained 3.73 per cent, pharmaceuticals 2.21 per cent, fuel and power 1.34 per cent, mutual fund 1.46 per cent, cement 2.46 per cent, textile 2.34 per cent and ceramics gained 5.02 per cent. Beximco Limited topped the turnover list with shares worth Tk 364.80 million changing hands. Other turnover leaders were Bextex, BSRM Steels, Titas Gas, Aftab Automobiles, United Airways, RN Spinning, RAK Ceramics, Peoples Leasing and Makson Spinning. Beximco Limited, Renata, Bextex and Beximco Pharma were the day's top losers, losing 31.12 per cent, 17.65 per cent and 17.64 per cent and 16.51 per cent respectively following their price adjustment after record date. Karnaphuli Insurance, BD Thai, Shinepukur Ceramics, Modern Dying and Pioneer Insurance were other top losers. BD Finance was the day's top gainer posting 9.90 per cent rise. It was followed by Asia Insurance, BD Com, Fine Food, Prime Insurance, BD Welding, Golden Son, Deshbandhu Polymer, Intech and City General Insurance.