DSE in bearish mood
Saturday, 15 March 2008
FE Report
The Dhaka Stock Exchange (DSE) witnessed bearish mood, mainly led by blue chips, in the week ended Thursday after two consecutive weeks of bull-run.
The daily average turnover, however, was up by 30.20 per cent to reach a record all time high of Tk 3.20 billion on the back of heavy transaction of the AB Bank.
The DSE made a record one-day trading of Tk 4.09 billion Tuesday.
The AB Bank was the top turnover leader with Tk 1.75 billion traded, accounting for 10.99 per cent of the total market turnover on its lucrative announcement of 200 per cent stock dividend.
Beginning the past week with upbeat mood, the market ended downbeat as the stock prices rose in the first two days out of five trading days.
"The market in the week was going through price correction after the previous two-consecutive weeks gaining streak, reflecting positive tempo of the market," according to a market operator.
The total market capitalisation dropped slightly 0.61 per cent to Tk 812.74 billion from previous week's Tk 817.73 billion.
All the market barometers - DSE General Index (DGEN), All Share Price Index (DSI) and DSE20 - shed 0.73 per cent or 21.87 points, 0.77 per cent or 19.57 points and 4.43 per cent or 103.65 points to close at 2969.50, 2508.43 and 2339.15 respectively on the last trading day of the week.
Out of 285 traded issues, share prices of 147 advanced, 110 declined, four remained unchanged and 24 were not traded.
Among the top ten gainers, seven were from the Z-category companies when the investors anticipated that the recast of the worst-performing companies as directed by the Securities and Exchange Commission within June, 2008 will help rise the prices.
The seven companies were BCIL, Excelsior Shoes, M Hossain Garments, Pharmaco International, Bangladesh Luggage, Chittagong Vegetable and Bengal Biscuits, recording a rise of 77.54 per cent, 47.02 per cent, 46.30 per cent, 42.90 per cent, 41.79 per cent, 40.98 per cent and 38.55 per cent respectively.
Other three top gainer companies were ICB, BD Autocars and Eastern Lubricants.
Besides, 8th ICB Mutual Fund, 7th ICB Mutual Fund and 6th ICB Mutual Fund also rose sharply.
Grameen One was the second turnover leader with Tk 835.83 million traded, accounting for 5.22 per cent of the week's total turnover.
Square Pharmaceuticals, IFIC Bank, Apex Adelchi Footwear, ACI Limited, Uttara Bank, United Commercial Bank, Lafarge Surma Cement and Jamuna Oil were the other turnover leaders of the week.
Prime Bank, Mercantile Bank, Therapeutics, Rahim Textile, National Bank Limited (NBL), Kay and Que, and IDLC Finance Limited, Gemini Sea Foods, BOC Bangladesh and Pharma Aids were the top ten losers.
The A-category issues accounted for 77.38 per cent of the total turnover in value during the last week, while B-category issues shared 1.38 per cent, G-category 2.79 per cent, N-category 10.89 per cent and Z-category 7.56 per cent.
The Dhaka Stock Exchange (DSE) witnessed bearish mood, mainly led by blue chips, in the week ended Thursday after two consecutive weeks of bull-run.
The daily average turnover, however, was up by 30.20 per cent to reach a record all time high of Tk 3.20 billion on the back of heavy transaction of the AB Bank.
The DSE made a record one-day trading of Tk 4.09 billion Tuesday.
The AB Bank was the top turnover leader with Tk 1.75 billion traded, accounting for 10.99 per cent of the total market turnover on its lucrative announcement of 200 per cent stock dividend.
Beginning the past week with upbeat mood, the market ended downbeat as the stock prices rose in the first two days out of five trading days.
"The market in the week was going through price correction after the previous two-consecutive weeks gaining streak, reflecting positive tempo of the market," according to a market operator.
The total market capitalisation dropped slightly 0.61 per cent to Tk 812.74 billion from previous week's Tk 817.73 billion.
All the market barometers - DSE General Index (DGEN), All Share Price Index (DSI) and DSE20 - shed 0.73 per cent or 21.87 points, 0.77 per cent or 19.57 points and 4.43 per cent or 103.65 points to close at 2969.50, 2508.43 and 2339.15 respectively on the last trading day of the week.
Out of 285 traded issues, share prices of 147 advanced, 110 declined, four remained unchanged and 24 were not traded.
Among the top ten gainers, seven were from the Z-category companies when the investors anticipated that the recast of the worst-performing companies as directed by the Securities and Exchange Commission within June, 2008 will help rise the prices.
The seven companies were BCIL, Excelsior Shoes, M Hossain Garments, Pharmaco International, Bangladesh Luggage, Chittagong Vegetable and Bengal Biscuits, recording a rise of 77.54 per cent, 47.02 per cent, 46.30 per cent, 42.90 per cent, 41.79 per cent, 40.98 per cent and 38.55 per cent respectively.
Other three top gainer companies were ICB, BD Autocars and Eastern Lubricants.
Besides, 8th ICB Mutual Fund, 7th ICB Mutual Fund and 6th ICB Mutual Fund also rose sharply.
Grameen One was the second turnover leader with Tk 835.83 million traded, accounting for 5.22 per cent of the week's total turnover.
Square Pharmaceuticals, IFIC Bank, Apex Adelchi Footwear, ACI Limited, Uttara Bank, United Commercial Bank, Lafarge Surma Cement and Jamuna Oil were the other turnover leaders of the week.
Prime Bank, Mercantile Bank, Therapeutics, Rahim Textile, National Bank Limited (NBL), Kay and Que, and IDLC Finance Limited, Gemini Sea Foods, BOC Bangladesh and Pharma Aids were the top ten losers.
The A-category issues accounted for 77.38 per cent of the total turnover in value during the last week, while B-category issues shared 1.38 per cent, G-category 2.79 per cent, N-category 10.89 per cent and Z-category 7.56 per cent.