DSE downward trend continues for second straight week
Saturday, 25 October 2008
FE Report
The Dhaka Stock Exchange (DSE) witnessed a downward trend last week for the second consecutive week, with the turnover registering a 30 per cent fall.
During the week ended Thursday, all the market barometers - the benchmark DSE General Index (DGEN), the All Shares Price Index (DSI) and the DSE-20 index comprising blue chips - shed 50.44 points, 41.02 points and 54.48 points to close at 2868.11, 2376.67 and 2416 respectively.
Out of 290 issues, 94 advanced, 156 declined, six remained unchanged and 34 were not traded in the week.
The daily average turnover, however, registered 29.97 per cent drop to Tk 3.81 billion (381 crore) against the previous week's Tk 5.45 billion. The DSE market capitalisation slightly declined to Tk 1.00 trillion from the record high of Tk 1.01 trillion set in the previous week.
The market lost the ground last week amid some top merchant banks' loan margin suspension against some particular stocks of the Beximco Group and the confusion created over direct listing of ACI Formulations and Shinepukur Ceramics, according to the stockbrokers.
However, ACI and Shinepukur submitted the necessary documents earlier sought by the DSE, sources said.
The main index of the prime bourse of the country rose sharply in the last session of Thursday amid a rumour that the merchant banks might increase their loan margin ratio.
But when contacted with some top merchant bankers, they ruled out any such rumour saying that the loans would be disbursed as usual.
Beximco Pharma continued to top the turnover position with shares worth Tk 1.50 billion traded and it accounted for about 7.88 per cent of the week's total market turnover at the prime bourse.
The next other turnover leaders were Desco, Titas Gas, Beximco Limited, ACI Limited, Square Pharma, Summit Alliance Port Limited, Summit Power, AIMS First Mutual Fund and Golden Son.
United Insurance was the top gainer posting 77.78 per cent rise, followed by Bengal Biscuits with 30.73 per cent, Fu Wang Food 29.22 per cent, Bangladesh Luggage 26.67 per cent, Bangladesh Thai Aluminum 25.12 per cent, Summit Alliance Port Limited 22.92 per cent, Phoenix Insurance 22.36 per cent, Renwick Jajneswar 22.33 per cent, Eastern Insurance 22.13 per cent and Fine Foods Limited 22.06 per cent.
Beximco Fisheries, MIDAS Financing Limited, Jute Spinners, Beximco Textile Limited, ICB, Paper Processing, Shinepukur Holdings Limited, Bangladesh Finance, Apex Weaving, and Janata Insurance were the week's top losers.
A-category issues accounted for 81.96 per cent, B-category issues 2.21 per cent, N-category issues 12.24 per cent and Z-category issues 3.60 per cent of the total turnover in value during the week.
The Dhaka Stock Exchange (DSE) witnessed a downward trend last week for the second consecutive week, with the turnover registering a 30 per cent fall.
During the week ended Thursday, all the market barometers - the benchmark DSE General Index (DGEN), the All Shares Price Index (DSI) and the DSE-20 index comprising blue chips - shed 50.44 points, 41.02 points and 54.48 points to close at 2868.11, 2376.67 and 2416 respectively.
Out of 290 issues, 94 advanced, 156 declined, six remained unchanged and 34 were not traded in the week.
The daily average turnover, however, registered 29.97 per cent drop to Tk 3.81 billion (381 crore) against the previous week's Tk 5.45 billion. The DSE market capitalisation slightly declined to Tk 1.00 trillion from the record high of Tk 1.01 trillion set in the previous week.
The market lost the ground last week amid some top merchant banks' loan margin suspension against some particular stocks of the Beximco Group and the confusion created over direct listing of ACI Formulations and Shinepukur Ceramics, according to the stockbrokers.
However, ACI and Shinepukur submitted the necessary documents earlier sought by the DSE, sources said.
The main index of the prime bourse of the country rose sharply in the last session of Thursday amid a rumour that the merchant banks might increase their loan margin ratio.
But when contacted with some top merchant bankers, they ruled out any such rumour saying that the loans would be disbursed as usual.
Beximco Pharma continued to top the turnover position with shares worth Tk 1.50 billion traded and it accounted for about 7.88 per cent of the week's total market turnover at the prime bourse.
The next other turnover leaders were Desco, Titas Gas, Beximco Limited, ACI Limited, Square Pharma, Summit Alliance Port Limited, Summit Power, AIMS First Mutual Fund and Golden Son.
United Insurance was the top gainer posting 77.78 per cent rise, followed by Bengal Biscuits with 30.73 per cent, Fu Wang Food 29.22 per cent, Bangladesh Luggage 26.67 per cent, Bangladesh Thai Aluminum 25.12 per cent, Summit Alliance Port Limited 22.92 per cent, Phoenix Insurance 22.36 per cent, Renwick Jajneswar 22.33 per cent, Eastern Insurance 22.13 per cent and Fine Foods Limited 22.06 per cent.
Beximco Fisheries, MIDAS Financing Limited, Jute Spinners, Beximco Textile Limited, ICB, Paper Processing, Shinepukur Holdings Limited, Bangladesh Finance, Apex Weaving, and Janata Insurance were the week's top losers.
A-category issues accounted for 81.96 per cent, B-category issues 2.21 per cent, N-category issues 12.24 per cent and Z-category issues 3.60 per cent of the total turnover in value during the week.