DSE bearish mood continues
Saturday, 28 March 2009
FE Report
The Dhaka Stock Exchange (DSE) witnessed a bearish mood for the second consecutive week that ended Thursday amid a sharp decline in turnover.
During the week, the benchmark DSE General Index (DGEN) shed 98.99 points to end at 2523.78. The All Shares Price Index (DSI) ended at 2091.37 with a loss of 87.90 points and the DSE-20 blue chip index finished at 1963.65 with a drop of 105.74 points.
The prime bourse shortened its trading days from five to four as it remained closed Thursday due to a public holiday on the occasion of the Independence Day.
The prime bourse saw volatile trading throughout the week, which indicated the investors felt discomfort over the market's movement.
"This is the reflection of a bleak economic scenario painted by the policy makers and some economists," said a capital market expert.
The policy taken by some merchant banks not to give credit against some overvalued stocks also left a negative impact on trading in the week, market sources said.
During the week, out of 298 issues traded, 63 advanced, 194 declined, two remained unchanged and 39 were not traded.
The daily average turnover posted a decline of 22.00 per cent to Tk 4.50 billion against the previous week's Tk 5.78 billion.
The market capitalisation stood at Tk 1.02 trillion.
Summit Power was the top turnover leader for the third consecutive week with shares worth Tk 1.19 billion traded, which accounted for about 6.56 per cent of the week's total market turnover of Tk 18.02 billion at the prime bourse.
Titas Gas, Beximco, BSRM Steels Limited, Bximco Pharma, Shinepukur Ceramics Limited, Summit Alliance Port Limited, S Alam Cold Rolled Steels Limited, Eastern Housing Limited (EHL) and DESCO were the other top turnover leaders.
Of the week's top ten gainers, seven came from the worst performing Z-category companies.
The top ten gainers were Beach Hatchery Limited, Padma Cement, Sonargaon Textiles, Modern Cement, Al-Amin Chemicals, Meghna Condensed Milk, Rose Heaven Ballpen, 2nd ICB Mutual Fund, Bangla Process and Rangamati Food.
The top losers were NBL, Safko Spinnings, Jamuna Oil, Apex Adelchi Footwear, Apex Tannery, AlHaj Textile, Desh Garments, Delta Spinners, Standard Ceramic and Saiham Textile.
The A-category issues accounted for 81.32 per cent of the total turnover in value during the week, while B-category issues accounted for 2.80 per cent, N-category 12.27 per cent and Z-category 3.61 per cent.
The Dhaka Stock Exchange (DSE) witnessed a bearish mood for the second consecutive week that ended Thursday amid a sharp decline in turnover.
During the week, the benchmark DSE General Index (DGEN) shed 98.99 points to end at 2523.78. The All Shares Price Index (DSI) ended at 2091.37 with a loss of 87.90 points and the DSE-20 blue chip index finished at 1963.65 with a drop of 105.74 points.
The prime bourse shortened its trading days from five to four as it remained closed Thursday due to a public holiday on the occasion of the Independence Day.
The prime bourse saw volatile trading throughout the week, which indicated the investors felt discomfort over the market's movement.
"This is the reflection of a bleak economic scenario painted by the policy makers and some economists," said a capital market expert.
The policy taken by some merchant banks not to give credit against some overvalued stocks also left a negative impact on trading in the week, market sources said.
During the week, out of 298 issues traded, 63 advanced, 194 declined, two remained unchanged and 39 were not traded.
The daily average turnover posted a decline of 22.00 per cent to Tk 4.50 billion against the previous week's Tk 5.78 billion.
The market capitalisation stood at Tk 1.02 trillion.
Summit Power was the top turnover leader for the third consecutive week with shares worth Tk 1.19 billion traded, which accounted for about 6.56 per cent of the week's total market turnover of Tk 18.02 billion at the prime bourse.
Titas Gas, Beximco, BSRM Steels Limited, Bximco Pharma, Shinepukur Ceramics Limited, Summit Alliance Port Limited, S Alam Cold Rolled Steels Limited, Eastern Housing Limited (EHL) and DESCO were the other top turnover leaders.
Of the week's top ten gainers, seven came from the worst performing Z-category companies.
The top ten gainers were Beach Hatchery Limited, Padma Cement, Sonargaon Textiles, Modern Cement, Al-Amin Chemicals, Meghna Condensed Milk, Rose Heaven Ballpen, 2nd ICB Mutual Fund, Bangla Process and Rangamati Food.
The top losers were NBL, Safko Spinnings, Jamuna Oil, Apex Adelchi Footwear, Apex Tannery, AlHaj Textile, Desh Garments, Delta Spinners, Standard Ceramic and Saiham Textile.
The A-category issues accounted for 81.32 per cent of the total turnover in value during the week, while B-category issues accounted for 2.80 per cent, N-category 12.27 per cent and Z-category 3.61 per cent.