DSE bounces back
Saturday, 18 April 2009
FE Report
Share prices at the Dhaka Stock Exchange (DSE) rebounded riding on banking stocks in the week that ended Thursday, ending the fourth straight week of bear-run.
The benchmark index DSE General Index (DGEN) gained 142.07 points to end at 2550.74. The All Shares Price Index (DSI) ended at 2115.12 with a rise of 113.34 points and the DSE-20 blue chip index finished at 1981.45 with a gain of 111.70 points.
The banking sector shares which had been in a declining trend for more than a year increased quite rapidly during the week, sending the market into bullish mood, according to experts.
In the past four weeks the market had been sliding down consistently a trend, which has now been reversed because of the rising banking stocks.
"The market behaved more matured in recent times with investors moving away from risky investments in fundamental shares. This is evident from the high trading volumes and price appreciation in the banking and fuel and power sectors," according to the research cell of the Equity Partners Ltd, an investment bank.
On Wednesday the DGEN rose 72 points, a single-day biggest rise in two months, with strong backing from the banking sector.
The prime bourse shortened the trading days to four from five due to public holiday (Tuesday) on the occasion of Bangla New Year.
This week the banking sector and the NBFI sector turned out to be the best performers with both sectors going up by 14.1 per cent and 15.79 per cent respectively, the EPL said.
Amongst the other notable gainers are cement with 7.05 per cent rise, general insurance 7.60 per cent, fuel and power 1.37 per cent and pharmaceuticals one per cent, it added.
Even though most sectors performed strongly, some speculative sectors like Jute lost 7.33 per cent and ceramic 4.21 per cent.
The gainers outnumbered the losers as out of 299 issues traded, 162 advanced, 96 declined, four remained unchanged and 37 were not traded in the week.
The daily average turnover slightly decreased to Tk 4.02 billion against previous week's Tk 4.25 billion.
The market capitalisation stood at Tk 1.04 trillion.
Beximco was the top turnover leader with shares worth Tk 1.29 billion traded and accounted for about 8.02 per cent of the week's total market turnover of Tk 16.10 billion at the prime bourse.
Summit Power, AB Bank, ACI Ltd, Titas Gas, Uttara Bank, Shinepukur Ceramics Limited, S Alam Cold Rolled Steels Limited, Bangladesh Online and DESCO.
The top ten gainers were IFIC Bank, Uttara Bank, Trust Bank, AB Bank, Eastern Bank, One Bank Ltd, Lankabangla Finance, Al-Arafah Islami Bank, Shahjalal Islami Bank and BRAC Bank.
Al-Haj Textile, Sonali Aansh, Pubali Bank, Lexco, Tulip Dairy and Food, Anwar Galvanizing, BD Zipper, Beximco Synthetics, Meghna Condensed Milk and Ambee Pharma.
The A-category issues accounted for 84.40 per cent of the total turnover in value during the week, while B-category issues accounted for 2.40 per cent, N-category 10.37 per cent and Z-category 2.83 per cent.
Share prices at the Dhaka Stock Exchange (DSE) rebounded riding on banking stocks in the week that ended Thursday, ending the fourth straight week of bear-run.
The benchmark index DSE General Index (DGEN) gained 142.07 points to end at 2550.74. The All Shares Price Index (DSI) ended at 2115.12 with a rise of 113.34 points and the DSE-20 blue chip index finished at 1981.45 with a gain of 111.70 points.
The banking sector shares which had been in a declining trend for more than a year increased quite rapidly during the week, sending the market into bullish mood, according to experts.
In the past four weeks the market had been sliding down consistently a trend, which has now been reversed because of the rising banking stocks.
"The market behaved more matured in recent times with investors moving away from risky investments in fundamental shares. This is evident from the high trading volumes and price appreciation in the banking and fuel and power sectors," according to the research cell of the Equity Partners Ltd, an investment bank.
On Wednesday the DGEN rose 72 points, a single-day biggest rise in two months, with strong backing from the banking sector.
The prime bourse shortened the trading days to four from five due to public holiday (Tuesday) on the occasion of Bangla New Year.
This week the banking sector and the NBFI sector turned out to be the best performers with both sectors going up by 14.1 per cent and 15.79 per cent respectively, the EPL said.
Amongst the other notable gainers are cement with 7.05 per cent rise, general insurance 7.60 per cent, fuel and power 1.37 per cent and pharmaceuticals one per cent, it added.
Even though most sectors performed strongly, some speculative sectors like Jute lost 7.33 per cent and ceramic 4.21 per cent.
The gainers outnumbered the losers as out of 299 issues traded, 162 advanced, 96 declined, four remained unchanged and 37 were not traded in the week.
The daily average turnover slightly decreased to Tk 4.02 billion against previous week's Tk 4.25 billion.
The market capitalisation stood at Tk 1.04 trillion.
Beximco was the top turnover leader with shares worth Tk 1.29 billion traded and accounted for about 8.02 per cent of the week's total market turnover of Tk 16.10 billion at the prime bourse.
Summit Power, AB Bank, ACI Ltd, Titas Gas, Uttara Bank, Shinepukur Ceramics Limited, S Alam Cold Rolled Steels Limited, Bangladesh Online and DESCO.
The top ten gainers were IFIC Bank, Uttara Bank, Trust Bank, AB Bank, Eastern Bank, One Bank Ltd, Lankabangla Finance, Al-Arafah Islami Bank, Shahjalal Islami Bank and BRAC Bank.
Al-Haj Textile, Sonali Aansh, Pubali Bank, Lexco, Tulip Dairy and Food, Anwar Galvanizing, BD Zipper, Beximco Synthetics, Meghna Condensed Milk and Ambee Pharma.
The A-category issues accounted for 84.40 per cent of the total turnover in value during the week, while B-category issues accounted for 2.40 per cent, N-category 10.37 per cent and Z-category 2.83 per cent.