Dhaka stocks witness slight downtrend on profit-taking
Saturday, 18 October 2008
FE Report
The Dhaka Stock Exchange (DSE) witnessed a slightly downward trend on profit taking in the week that ended Thursday, amid continuously increased investors' participation in trading.
All the market barometers - the benchmark DSE General Index (DGEN) and All Shares Price Index (DSI)- shed 18.02 points and 17.76 points to close at 2919 and 2417.69 respectively. However, the DSE-20 comprising blue chips gained 23.19 points to end at 2470.
Out of 290 issues, 93 advanced, 155 declined, 13 remained unchanged and 29 were not traded in the week.
The volume of share transaction hovered over Tk 5.0 billion-mark throughout the week for the first time at the premier bourse with an all-time high turnover record of Tk 5.90 billion set in the opening session Sunday when the retail investors released their holdings fearing that the global financial turbulence might affect the country's stock market.
But after dispelling of fear by the regulators, bourses and market intermediaries that the local market has no link with the world stock markets that saw sharp fall over the weeks due to credit crunch, the investors returned to the market, helping the market recover the points lost in first session on panic selling.
The daily average turnover, however, registered 10 per cent rise to Tk 5.45 billion against the previous week's Tk 4.91 billion. The DSE market capitalisation slightly declined to Tk 1.01 trillion from record high of Tk 1.02 trillion set in the last week.
Share prices of the Summit Alliance Port Limited that made debut Thursday posted unusual rise of 779.25 per cent to finish at Tk 879.25 per share. Stocks of Tk 100 each opened with Tk 600 per share and climbed as high as Tk 1074.00 a share.
Beximco Pharma continued to be the top turnover leader with shares worth Tk 2.81 billion traded and accounted for about 10.34 per cent of the week's total market turnover at the prime bourse.
Titas Gas was the second turnover leader with shares worth Tk 2.45 billion changing hands, accounting for 9.02 per cent of the total turnover.
Beximco Limited, Square Pharma, ACI Limited, Lankabangla Finance Company, Summmit Power, AIMS First Mutual Fund, DESCO and Grameen One Mutual Fund were the other turnover leaders of the week.
Of the top ten gainers, five were from low-rated Z-category companies.
In the week, Bexmico Fisheries, a Z-category issue, was the top gainer posting a 36.28 per cent rise, followed by Shinepukur Holdings 28.17 per cent, Maq Paper 24.49 per cent, Metro Spinning 24.26 per cent, Dulamia Cotton 23.58 per cent, Golden Son 23.15 per cent, BCIL 22.66 per cent, M Hossain Garments 22.50 per cent, Safko Spinnings 21.67 per cent and Saiham Textile 20.63 per cent rise.
ICB, Delta Brac Housing (DBH), Bionic Sea Food, BIFC, Modern Cement, Prime Islami Life Insurance, Meghna Condensed Milk, Progressive Life Insurance, Modern Industries and Meghna Life Insurance were the week's top losers.
The A-category issues accounted for 78.91 per cent of the total turnover in value during the week, while B-category issues shared 0.62 per cent, N-category 17.06 per cent and Z-category 3.41 per cent.
The Dhaka Stock Exchange (DSE) witnessed a slightly downward trend on profit taking in the week that ended Thursday, amid continuously increased investors' participation in trading.
All the market barometers - the benchmark DSE General Index (DGEN) and All Shares Price Index (DSI)- shed 18.02 points and 17.76 points to close at 2919 and 2417.69 respectively. However, the DSE-20 comprising blue chips gained 23.19 points to end at 2470.
Out of 290 issues, 93 advanced, 155 declined, 13 remained unchanged and 29 were not traded in the week.
The volume of share transaction hovered over Tk 5.0 billion-mark throughout the week for the first time at the premier bourse with an all-time high turnover record of Tk 5.90 billion set in the opening session Sunday when the retail investors released their holdings fearing that the global financial turbulence might affect the country's stock market.
But after dispelling of fear by the regulators, bourses and market intermediaries that the local market has no link with the world stock markets that saw sharp fall over the weeks due to credit crunch, the investors returned to the market, helping the market recover the points lost in first session on panic selling.
The daily average turnover, however, registered 10 per cent rise to Tk 5.45 billion against the previous week's Tk 4.91 billion. The DSE market capitalisation slightly declined to Tk 1.01 trillion from record high of Tk 1.02 trillion set in the last week.
Share prices of the Summit Alliance Port Limited that made debut Thursday posted unusual rise of 779.25 per cent to finish at Tk 879.25 per share. Stocks of Tk 100 each opened with Tk 600 per share and climbed as high as Tk 1074.00 a share.
Beximco Pharma continued to be the top turnover leader with shares worth Tk 2.81 billion traded and accounted for about 10.34 per cent of the week's total market turnover at the prime bourse.
Titas Gas was the second turnover leader with shares worth Tk 2.45 billion changing hands, accounting for 9.02 per cent of the total turnover.
Beximco Limited, Square Pharma, ACI Limited, Lankabangla Finance Company, Summmit Power, AIMS First Mutual Fund, DESCO and Grameen One Mutual Fund were the other turnover leaders of the week.
Of the top ten gainers, five were from low-rated Z-category companies.
In the week, Bexmico Fisheries, a Z-category issue, was the top gainer posting a 36.28 per cent rise, followed by Shinepukur Holdings 28.17 per cent, Maq Paper 24.49 per cent, Metro Spinning 24.26 per cent, Dulamia Cotton 23.58 per cent, Golden Son 23.15 per cent, BCIL 22.66 per cent, M Hossain Garments 22.50 per cent, Safko Spinnings 21.67 per cent and Saiham Textile 20.63 per cent rise.
ICB, Delta Brac Housing (DBH), Bionic Sea Food, BIFC, Modern Cement, Prime Islami Life Insurance, Meghna Condensed Milk, Progressive Life Insurance, Modern Industries and Meghna Life Insurance were the week's top losers.
The A-category issues accounted for 78.91 per cent of the total turnover in value during the week, while B-category issues shared 0.62 per cent, N-category 17.06 per cent and Z-category 3.41 per cent.