Dhaka stocks see off first week of year in bullish mood
Saturday, 9 January 2010
FE Report
The Dhaka Stock Exchange (DSE) passed the first week of 2010 in a bullish mood with an increased participation of investors.
All sectors, except the financial institutions, which shed 0.83 per cent, were able to edge higher, pushing up the benchmark index to a new high in the week that ended Thursday.
During the week, the DSE General Index (DGEN), the main index of the bourse, moved up 186.57 points or 4.11 per cent to close at 4,722.10, an all time high.
The All Shares Price Index (DSI) jumped by 157.13 points or 4.19 per cent to 3,904.66 and the DSE-20 index comprising blue chip issues rose by 131.03 points or 5.01 per cent to close at 2744.52.
After year-end account closure, the growing presence of institutional investors has raised hopes that the market is heading for newer highs, but it is feared that the longest stretch of gains may cause a dent in the price flare-ups, according to analysts.
The major sectors -- cement, insurers, non-banking financial institutions, pharmaceuticals and energy-gained more than 5.0 per cent each. The telecommunication sector ended 3.36 per cent higher in the week.
The average turnover stood at Tk 10.90 billion, 25 per cent higher than that of the previous week that saw only three working sessions.
Bears outnumbered bulls on the main board as out of the total 256 issues, 204 scrips advanced, 37 declined, two remained unchanged and 13 were not traded.
The DSE, which witnessed 13 straight sessions of gain, set a milestone in the fourth trading session of the New Year as its DGEN crossed the 4700-mark for the first time.
Beximco Ltd, the flagship company of the industrial conglomerate Beximco Group, was the week's top turnover leader with shares worth Tk 3.45 billion traded.
It was followed by AB Bank, Grameenphone, Prime Bank, Lankabangla Finance, Titas Gas, Bextex, Jamuna Oil, Southeast Bank and DESCO
The week's top gainers were Savar Refractories, Bangladesh Autocars, Monno Stafllers, Sonali Aansh, Bangladesh Welding Electrodes, Mithun Knitting, Renwick Jajneswar, Monno Ceramic, Delta-Brac Housing and Singer Bangladesh.
The major losers were Bangas, Rahim Textile, Shahjalal Islami Bank, Kohinoor Chemicals, Eastern Bank, Rupali Bank, AB Bank, Al-Arafah Islami Bank, NCC Bank and Pubali Bank.
A major development in the week was a directive of the Securities and Exchange Commission (SEC) on the methodology of index calculation by the stock exchanges.
The way the indices were calculated by the Dhaka Stock Exchange was found erroneous. The problem arises whenever a new company is listed with the stock exchange. The problem came to notice of the authorities after the largest-ever stock market listing of Grameenphone last November.
The SEC directed both the exchanges-- DSE and CSE-- to rectify the index calculation by following the internationally-accepted practices.
The Dhaka Stock Exchange (DSE) passed the first week of 2010 in a bullish mood with an increased participation of investors.
All sectors, except the financial institutions, which shed 0.83 per cent, were able to edge higher, pushing up the benchmark index to a new high in the week that ended Thursday.
During the week, the DSE General Index (DGEN), the main index of the bourse, moved up 186.57 points or 4.11 per cent to close at 4,722.10, an all time high.
The All Shares Price Index (DSI) jumped by 157.13 points or 4.19 per cent to 3,904.66 and the DSE-20 index comprising blue chip issues rose by 131.03 points or 5.01 per cent to close at 2744.52.
After year-end account closure, the growing presence of institutional investors has raised hopes that the market is heading for newer highs, but it is feared that the longest stretch of gains may cause a dent in the price flare-ups, according to analysts.
The major sectors -- cement, insurers, non-banking financial institutions, pharmaceuticals and energy-gained more than 5.0 per cent each. The telecommunication sector ended 3.36 per cent higher in the week.
The average turnover stood at Tk 10.90 billion, 25 per cent higher than that of the previous week that saw only three working sessions.
Bears outnumbered bulls on the main board as out of the total 256 issues, 204 scrips advanced, 37 declined, two remained unchanged and 13 were not traded.
The DSE, which witnessed 13 straight sessions of gain, set a milestone in the fourth trading session of the New Year as its DGEN crossed the 4700-mark for the first time.
Beximco Ltd, the flagship company of the industrial conglomerate Beximco Group, was the week's top turnover leader with shares worth Tk 3.45 billion traded.
It was followed by AB Bank, Grameenphone, Prime Bank, Lankabangla Finance, Titas Gas, Bextex, Jamuna Oil, Southeast Bank and DESCO
The week's top gainers were Savar Refractories, Bangladesh Autocars, Monno Stafllers, Sonali Aansh, Bangladesh Welding Electrodes, Mithun Knitting, Renwick Jajneswar, Monno Ceramic, Delta-Brac Housing and Singer Bangladesh.
The major losers were Bangas, Rahim Textile, Shahjalal Islami Bank, Kohinoor Chemicals, Eastern Bank, Rupali Bank, AB Bank, Al-Arafah Islami Bank, NCC Bank and Pubali Bank.
A major development in the week was a directive of the Securities and Exchange Commission (SEC) on the methodology of index calculation by the stock exchanges.
The way the indices were calculated by the Dhaka Stock Exchange was found erroneous. The problem arises whenever a new company is listed with the stock exchange. The problem came to notice of the authorities after the largest-ever stock market listing of Grameenphone last November.
The SEC directed both the exchanges-- DSE and CSE-- to rectify the index calculation by following the internationally-accepted practices.