Dhaka stocks up after four consecutive days
Tuesday, 29 March 2011
FE Report
Dhaka stocks bounced back Monday with encouraging rise in the turnover after four consecutive days due to increased participation from institutional investors. DGEN, the benchmark of Dhaka Stock Exchange (DSE) made a hefty gain of 148.88 points or 2.44 per cent on the day to peg at 6243.52 points. The daily total turnover increased to Tk 7.91 billion in value terms, up by 26.5 per cent from Tk 6.25 billion in the previous session. The gainers number took strong lead over the losers as out of 261 issues traded, 239 issues advanced, only 20 declined and two remained unchanged. The broader DSE All Shares Price Index (DSI) rose 122.49 points or 2.42 per cent to 5,177.99. The DSE-20 index including blue chips gained 1.52 per cent or 58.82 points to 3,928.18. Capital market analyst Akter H Sannamat said the market closed positive as some clarification came up over the IMF's recent comments on formation of proposed Bangladesh Fund. "The investors who were confused and get panicked in the last few days of trading over the IMF comments on share market and formation of Tk 50 billion Bangladesh Fund, now have realized that the IMF would not make any recommendation which may affect the stock market," he said. Another market analyst, Managing director and CEO of AIMS of Bangladesh Yawer Sayeed remains skeptical on the overall situation of the capital market saying that "The market is still in volatile situation and it should be stand at the strong fundamental and for this we should wait for some times." "The market faces many problems like investigation report, IMF problem, book-building method problem, Mobil Jamuna Lubricants listing problem," Mr Sayeed said. Meanwhile, the market opened with a flying note and the momentum continued until the closure, as the investors went for fresh buying. All major sectors share witnessed moderate gain on the day lead by Insurance, NBFIs, Life Insurance and Paper and Printing sector. Banking sector, the market's bellwether gained 1.03 per cent. Among the other notable gainers of the day NBFIs raises 2.34 per cent, telecommunication 3.06 per cent, fuel and power 3.89 per cent, mutual fund 2.35 per cent, general insurance 2.73 per cent, life insurance 4.05 per cent, pharmaceuticals 2.01 per cent, cement 3.94 per cent, textile 4.55 per cent, ceramics 5.16 per cent and jute 5.51 per cent. Among the 30 listed banks, only 4 declined, among the 40 listed Insurance companies only 2 declined on the day. All the NBFI shares gained as investors were keen to buy. A total of 67.17 million shares changed hands which were 58.08 million in the previous session. The trade deals also increased and stood at 157,041 against 137,353 in the previous session. The market capitalization also increased and stood at Tk 2,811.32 billion which was Tk 2,753.87 billion Sunday. City General Insurance was the day's highest gainer posting 9.89 per cent. It was followed by Quasem Drycell, Keya Detergents, Saiham Textile, Anlima Yarn, Metro spinning, Hakkani Paper and Pulp, Rangpur Foundry, BD Autocars and Popular Life Insurance.
Dhaka stocks bounced back Monday with encouraging rise in the turnover after four consecutive days due to increased participation from institutional investors. DGEN, the benchmark of Dhaka Stock Exchange (DSE) made a hefty gain of 148.88 points or 2.44 per cent on the day to peg at 6243.52 points. The daily total turnover increased to Tk 7.91 billion in value terms, up by 26.5 per cent from Tk 6.25 billion in the previous session. The gainers number took strong lead over the losers as out of 261 issues traded, 239 issues advanced, only 20 declined and two remained unchanged. The broader DSE All Shares Price Index (DSI) rose 122.49 points or 2.42 per cent to 5,177.99. The DSE-20 index including blue chips gained 1.52 per cent or 58.82 points to 3,928.18. Capital market analyst Akter H Sannamat said the market closed positive as some clarification came up over the IMF's recent comments on formation of proposed Bangladesh Fund. "The investors who were confused and get panicked in the last few days of trading over the IMF comments on share market and formation of Tk 50 billion Bangladesh Fund, now have realized that the IMF would not make any recommendation which may affect the stock market," he said. Another market analyst, Managing director and CEO of AIMS of Bangladesh Yawer Sayeed remains skeptical on the overall situation of the capital market saying that "The market is still in volatile situation and it should be stand at the strong fundamental and for this we should wait for some times." "The market faces many problems like investigation report, IMF problem, book-building method problem, Mobil Jamuna Lubricants listing problem," Mr Sayeed said. Meanwhile, the market opened with a flying note and the momentum continued until the closure, as the investors went for fresh buying. All major sectors share witnessed moderate gain on the day lead by Insurance, NBFIs, Life Insurance and Paper and Printing sector. Banking sector, the market's bellwether gained 1.03 per cent. Among the other notable gainers of the day NBFIs raises 2.34 per cent, telecommunication 3.06 per cent, fuel and power 3.89 per cent, mutual fund 2.35 per cent, general insurance 2.73 per cent, life insurance 4.05 per cent, pharmaceuticals 2.01 per cent, cement 3.94 per cent, textile 4.55 per cent, ceramics 5.16 per cent and jute 5.51 per cent. Among the 30 listed banks, only 4 declined, among the 40 listed Insurance companies only 2 declined on the day. All the NBFI shares gained as investors were keen to buy. A total of 67.17 million shares changed hands which were 58.08 million in the previous session. The trade deals also increased and stood at 157,041 against 137,353 in the previous session. The market capitalization also increased and stood at Tk 2,811.32 billion which was Tk 2,753.87 billion Sunday. City General Insurance was the day's highest gainer posting 9.89 per cent. It was followed by Quasem Drycell, Keya Detergents, Saiham Textile, Anlima Yarn, Metro spinning, Hakkani Paper and Pulp, Rangpur Foundry, BD Autocars and Popular Life Insurance.