DSE keeps upward trend for 5th straight week
Saturday, 19 June 2010
FE Report
Dhaka Stock Exchange (DSE) maintained upward trend for the fifth straight week that ended Thursday, amid descending turnover.
During the week, the benchmark DSE General Index (DGEN) gained 40.04 points or 0.64 per cent to close at 6,299.74.
The broader All Shares Price Index (DSI) surged by 50.79 points or 0.98 per cent to 5,210.36, while the DSE-20 blue chip index rose sharply 241.16 points or 7.04 per cent to 3,668.72.
Banking sector, which makes up one-fourth of the total market capitalisation, dominated the week as the investors put funds on banking stocks to get a good return.
The market witnessed sharp fall in the fourth session Wednesday, triggered by securities regulator's move on restricting credit facilities.
The Securities and Exchange Commission (SEC), in a directive issued Tuesday, ordered merchant bankers and stock brokers not to provide any credit facilities to their clients to purchase the equity securities with price-earning (P/E) ratio of above 40 until further order. The directive will be effective from tomorrow (Sunday).
But following session Thursday, the market rebounded as the benchmark index gained nearly one per cent in anticipation of entry of undisclosed money.
"Undisclosed money holders might whiten their money by investing in stock market at the fag end of the current fiscal year expiring on June 30, as the government did not allow such opportunity in the next fiscal year," said a stockbroker.
Across the board selling was seen in the week, as out of 271 issues traded, 81 closed positive, 175 negative, two remained unchanged and 13 were not traded.
Daily average turnover increased to Tk 21.60 billion, up by 27.54 per cent over the previous week.
Titas Gas was the week's top turnover leader with shares worth Tk 6.29 billion traded.
It was followed by AB Bank, Beximco Ltd, Shahjalal Islami Bank, Power Grid, National Bank Limited (NBL), Summit Power, BRAC Bank, LankaBangla Finance and Pubali Bank.
The week's top gainers included Islami Bank, IFIC Bank, Singer Bangladesh, Trust Bank, AB Bank, Shahjalal Islami Bank, BRAC Bank, Peoples Leasing and Financial Services and NBL.
Reckitt Benckiser, Modern Industries, CMC Kamal, Quasem Silk, Khulna Power Company, S Alam Cold Rolled Steels, Ocean Containers Limited, Modern Dyeing, Meghna Pet and Bd Welding Electrodes were the prominent losers in the week.
Dhaka Stock Exchange (DSE) maintained upward trend for the fifth straight week that ended Thursday, amid descending turnover.
During the week, the benchmark DSE General Index (DGEN) gained 40.04 points or 0.64 per cent to close at 6,299.74.
The broader All Shares Price Index (DSI) surged by 50.79 points or 0.98 per cent to 5,210.36, while the DSE-20 blue chip index rose sharply 241.16 points or 7.04 per cent to 3,668.72.
Banking sector, which makes up one-fourth of the total market capitalisation, dominated the week as the investors put funds on banking stocks to get a good return.
The market witnessed sharp fall in the fourth session Wednesday, triggered by securities regulator's move on restricting credit facilities.
The Securities and Exchange Commission (SEC), in a directive issued Tuesday, ordered merchant bankers and stock brokers not to provide any credit facilities to their clients to purchase the equity securities with price-earning (P/E) ratio of above 40 until further order. The directive will be effective from tomorrow (Sunday).
But following session Thursday, the market rebounded as the benchmark index gained nearly one per cent in anticipation of entry of undisclosed money.
"Undisclosed money holders might whiten their money by investing in stock market at the fag end of the current fiscal year expiring on June 30, as the government did not allow such opportunity in the next fiscal year," said a stockbroker.
Across the board selling was seen in the week, as out of 271 issues traded, 81 closed positive, 175 negative, two remained unchanged and 13 were not traded.
Daily average turnover increased to Tk 21.60 billion, up by 27.54 per cent over the previous week.
Titas Gas was the week's top turnover leader with shares worth Tk 6.29 billion traded.
It was followed by AB Bank, Beximco Ltd, Shahjalal Islami Bank, Power Grid, National Bank Limited (NBL), Summit Power, BRAC Bank, LankaBangla Finance and Pubali Bank.
The week's top gainers included Islami Bank, IFIC Bank, Singer Bangladesh, Trust Bank, AB Bank, Shahjalal Islami Bank, BRAC Bank, Peoples Leasing and Financial Services and NBL.
Reckitt Benckiser, Modern Industries, CMC Kamal, Quasem Silk, Khulna Power Company, S Alam Cold Rolled Steels, Ocean Containers Limited, Modern Dyeing, Meghna Pet and Bd Welding Electrodes were the prominent losers in the week.