DSE ends flat amid dull trading
Friday, 2 April 2010
FE Report
Dhaka stocks ended flat after dull trading, as fear gripped jittery investors over lack of direction from the newly elected board of the country's premier bourse, dealers said.
The benchmark DSE General Index (DGEN) closed at 5594.31 with a meager increase of 11.98 points or 0.21 per cent, after an impressive opening hour's gain was cut down by sluggish mood in late hours.
The broader All Shares Price Index (DSI) rose 9.85 points or 0.21 per cent to 4583.66 while DSE-20 comprising blue chips shed 7.39 points or 0.25 per cent to 2944.60.
Turnover shrank by around nine per cent to Tk 6.40 billion-its lowest in about three weeks - as the investors found little to cheer about from the election of the new Dhaka Stock Exchange leadership.
"Investors were cautious, which is reflected by poor trading in the market. The new DSE board of directors have so far failed to inject life into the market," said a stockbroker.
Companies with small market capitalisation performed well. Out of 245 issues traded, 148 closed positive, 95 negative and two unchanged.
IFIC First Mutual Fund, the 24th fund that made debut on the day, was the highest gainer spiking 65 per cent on its face value of Tk 10 per unit.
Telecommunications, which make up one-fifth of the DSE market cap, ended 0.47 per cent higher as GP, the lone listed company in this sector, inched to Tk 363.90 from Tk 362.
Banking sector, the bellwether of the DSE accounting for around 25 per cent of the market cap, broke two days' winning streak, sliding by 0.77 per cent.
Jamuna Bank climbed 3.19 per cent after its board declared 37.50 per cent cash dividend to the shareholders. The biggest loser was Standard Bank dropping by 2.96 per cent on profit taking.
Leasing companies finished slightly higher with LankaBangla Finance - a consistent top performer in the market -- clocking a gain of 2.74 per cent.
Mutual funds slid 0.58 percent snapping yesterday's gain. Pharmaceuticals sector finished flat with Square Pharma, the country's largest drug maker, slipping 0.15 per cent.
Energy and fuel sector rose 0.97 per cent, cement 0.16 per cent, general insurers 1.07 per cent and life insurers 1.67 per cent.
Summit Power saw highest trading activities with shares worth Tk 630.75 million changing hands after its subsidiaries-- Summit Uttaranchol Power Company Limited and Summit Purbanchol Power Company Limited-- announced 20 per cent and 15 per cent stock dividends respectively.
Grameenphone was second with transaction of shares worth Tk 521.94 million.
LankBnagla Finance, Beximco Pharma, IFIC First Mutual Fund, Beximco Ltd, Bextex, NCC Bank, Shinepukur Ceramics and AB Bank were the other turnover leaders.
Other major gainers included Dulamia Cotton, the Ibn Sina, Federal Insurance, Reckitt Benckiser, Ocean Container Limited, Eastland Insurance, Global Insurance and Jamuna Oil.
CMC Kamal, a junk textile issue, nose-dived 14.83 per cent - the day's biggest fall.
It was followed by Dhaka Fisheries, Monno Textile, Shyampur Sugar Mills Ltd, Renata, Chittagong Vegetable and 5th ICB Mutual Fund.
Dhaka stocks ended flat after dull trading, as fear gripped jittery investors over lack of direction from the newly elected board of the country's premier bourse, dealers said.
The benchmark DSE General Index (DGEN) closed at 5594.31 with a meager increase of 11.98 points or 0.21 per cent, after an impressive opening hour's gain was cut down by sluggish mood in late hours.
The broader All Shares Price Index (DSI) rose 9.85 points or 0.21 per cent to 4583.66 while DSE-20 comprising blue chips shed 7.39 points or 0.25 per cent to 2944.60.
Turnover shrank by around nine per cent to Tk 6.40 billion-its lowest in about three weeks - as the investors found little to cheer about from the election of the new Dhaka Stock Exchange leadership.
"Investors were cautious, which is reflected by poor trading in the market. The new DSE board of directors have so far failed to inject life into the market," said a stockbroker.
Companies with small market capitalisation performed well. Out of 245 issues traded, 148 closed positive, 95 negative and two unchanged.
IFIC First Mutual Fund, the 24th fund that made debut on the day, was the highest gainer spiking 65 per cent on its face value of Tk 10 per unit.
Telecommunications, which make up one-fifth of the DSE market cap, ended 0.47 per cent higher as GP, the lone listed company in this sector, inched to Tk 363.90 from Tk 362.
Banking sector, the bellwether of the DSE accounting for around 25 per cent of the market cap, broke two days' winning streak, sliding by 0.77 per cent.
Jamuna Bank climbed 3.19 per cent after its board declared 37.50 per cent cash dividend to the shareholders. The biggest loser was Standard Bank dropping by 2.96 per cent on profit taking.
Leasing companies finished slightly higher with LankaBangla Finance - a consistent top performer in the market -- clocking a gain of 2.74 per cent.
Mutual funds slid 0.58 percent snapping yesterday's gain. Pharmaceuticals sector finished flat with Square Pharma, the country's largest drug maker, slipping 0.15 per cent.
Energy and fuel sector rose 0.97 per cent, cement 0.16 per cent, general insurers 1.07 per cent and life insurers 1.67 per cent.
Summit Power saw highest trading activities with shares worth Tk 630.75 million changing hands after its subsidiaries-- Summit Uttaranchol Power Company Limited and Summit Purbanchol Power Company Limited-- announced 20 per cent and 15 per cent stock dividends respectively.
Grameenphone was second with transaction of shares worth Tk 521.94 million.
LankBnagla Finance, Beximco Pharma, IFIC First Mutual Fund, Beximco Ltd, Bextex, NCC Bank, Shinepukur Ceramics and AB Bank were the other turnover leaders.
Other major gainers included Dulamia Cotton, the Ibn Sina, Federal Insurance, Reckitt Benckiser, Ocean Container Limited, Eastland Insurance, Global Insurance and Jamuna Oil.
CMC Kamal, a junk textile issue, nose-dived 14.83 per cent - the day's biggest fall.
It was followed by Dhaka Fisheries, Monno Textile, Shyampur Sugar Mills Ltd, Renata, Chittagong Vegetable and 5th ICB Mutual Fund.