Dhaka stocks slightly rise
FE Report | Friday, 15 August 2008
Dhaka stocks slightly rose Thursday with the turnover coming down below Tk 2.0 billion mark.
The Dhaka Stock Exchange (DSE), however, see-sawed from the very outset of the trade as it began with a negative mood but finally ended with the green.
All the market barometers -the benchmark DSE General Index (DGEN), All Shares Price Index and DSE-20 - gained 13.81 points, 11.23 points and 13.02 points to close at 2675.07, 2295.94 and 2479.53 respectively.
The market moved to the green because of share prices' rise of some heavy-weight companies like Titas Gas and Beximco Limited, leaving the pulling effect on other shares, according to the market operators.
"The fluctuation of the index indicated that the investors remained still hesitated to put their funds on stocks," a stock-broker said adding that the future direction of the market would be known Monday when it would reopen after the Shabebarat holiday.
He said, it has still a long way to go to recover the losses suffered by the market over the last couple of months for attaining the sustained bull-run.
The total turnover declined to Tk 1.82 billion against the previous day's Tk 2.34 billion. Of the total turnover, the top ten turnover leaders accounted for around 61 per cent.
On continued low turnover, a market operator said, "No fresh investors dare to enter into the continuously falling market."
However, some have expressed the opinion that the market is facing fund crisis because of pulling out of a substantial amount of money by the state-owned Titas Gas and investors' applications for initial public offerings (IPOs) of Grameen One- Scheme Two (Second Scheme of Grameen Mutual Fund One, First Security Bank Limited and Summit Alliance Port Limited.
Gainers took a strong lead over losers as out of 225 issues traded, stock prices of 125 issues advanced, 85 declined and 15 remained unchanged.
The total market capitalisation slightly rose to Tk 938.77 billion from Tk 935.17 billion.
Share prices of Titas Gas rose 8.19 per cent to finish at Tk 363.00 a share. It accounted for more than 13 per cent of the day's total turnover and continued to retain the top-turnover position with shares worth Tk 253.22 million traded.
Beximco Pharma was the second top-turnover leader with shares worth Tk 239.72 million traded and its share prices continued to increase posting a rise of 2.68 per cent to end at Tk 114.80 per share.
Beximco Limited, ACI Limited, Keya Cosmetics, BATBC, Lanka Bangla Finance, Islami Bank Bangladesh Limited, Agni Systems Limited and Pragati Life Insurance were the other turnover leaders on the day.
Anwar Galvanizing was the top gainer with a rise of 18.73 per cent, followed by Renwick Jajneswar 10.00 per cent, Titas Gas 8.19 per cent, Shyampur Sugar 8.08 per cent, Rahima Food 6.38 per cent and Agni Systems Limited 6.22 per cent.
Monospool Paper was the biggest loser with a fall of 19.02 per cent, Trust Bank 12.58 per cent, BD Thai Aluminium 5.68 per cent, Sinobangla Industries 5.57 per cent, 3rd ICB 5.27 per cent and Keya Cosmetics 5.26 per cent.
The Dhaka Stock Exchange (DSE), however, see-sawed from the very outset of the trade as it began with a negative mood but finally ended with the green.
All the market barometers -the benchmark DSE General Index (DGEN), All Shares Price Index and DSE-20 - gained 13.81 points, 11.23 points and 13.02 points to close at 2675.07, 2295.94 and 2479.53 respectively.
The market moved to the green because of share prices' rise of some heavy-weight companies like Titas Gas and Beximco Limited, leaving the pulling effect on other shares, according to the market operators.
"The fluctuation of the index indicated that the investors remained still hesitated to put their funds on stocks," a stock-broker said adding that the future direction of the market would be known Monday when it would reopen after the Shabebarat holiday.
He said, it has still a long way to go to recover the losses suffered by the market over the last couple of months for attaining the sustained bull-run.
The total turnover declined to Tk 1.82 billion against the previous day's Tk 2.34 billion. Of the total turnover, the top ten turnover leaders accounted for around 61 per cent.
On continued low turnover, a market operator said, "No fresh investors dare to enter into the continuously falling market."
However, some have expressed the opinion that the market is facing fund crisis because of pulling out of a substantial amount of money by the state-owned Titas Gas and investors' applications for initial public offerings (IPOs) of Grameen One- Scheme Two (Second Scheme of Grameen Mutual Fund One, First Security Bank Limited and Summit Alliance Port Limited.
Gainers took a strong lead over losers as out of 225 issues traded, stock prices of 125 issues advanced, 85 declined and 15 remained unchanged.
The total market capitalisation slightly rose to Tk 938.77 billion from Tk 935.17 billion.
Share prices of Titas Gas rose 8.19 per cent to finish at Tk 363.00 a share. It accounted for more than 13 per cent of the day's total turnover and continued to retain the top-turnover position with shares worth Tk 253.22 million traded.
Beximco Pharma was the second top-turnover leader with shares worth Tk 239.72 million traded and its share prices continued to increase posting a rise of 2.68 per cent to end at Tk 114.80 per share.
Beximco Limited, ACI Limited, Keya Cosmetics, BATBC, Lanka Bangla Finance, Islami Bank Bangladesh Limited, Agni Systems Limited and Pragati Life Insurance were the other turnover leaders on the day.
Anwar Galvanizing was the top gainer with a rise of 18.73 per cent, followed by Renwick Jajneswar 10.00 per cent, Titas Gas 8.19 per cent, Shyampur Sugar 8.08 per cent, Rahima Food 6.38 per cent and Agni Systems Limited 6.22 per cent.
Monospool Paper was the biggest loser with a fall of 19.02 per cent, Trust Bank 12.58 per cent, BD Thai Aluminium 5.68 per cent, Sinobangla Industries 5.57 per cent, 3rd ICB 5.27 per cent and Keya Cosmetics 5.26 per cent.