DSE stocks up for third straight trading day
Wednesday, 19 December 2007
FE Report
Stock prices on the Dhaka Stock Exchange (DSE) registered a rise Tuesday for the third straight trading day amid persistent buying support from the retail and institutional investors.
The rise was led by the issues of the power and energy and banking sectors as well as mutual funds.
The prices of Eastern Lubricant, Padma Oil and BOC gained significantly following publications of Jamuna Oil Company Ltd's information document (prospectus) to raise Tk 135 million (13.5 crore) under the direct listing regulations of the stock exchanges.
As a result, investors became encouraged to buy the shares of oil and energy issues, which helped Eastern Lubricant shares rise 8.37 per cent, Padma Oil 5.47 per cent and BOC 5.29 per cent against those of the previous day.
Eastern Lubricant also reported a net profit of Tk. 1.52 million with an earning per share (EPS) of Tk. 1.53 until June 30, 2007 against Tk.1.49 million and Tk. 1.50 respectively as on June 30, 2006.
The declaration of net asset values (NAVs) of ICB mutual funds propelled the issues to rise.
The Fourth ICB Mutual Fund rose 7.36 per cent and ICB 5.78 per cent on the day.
As on close of operation on November 30 last, the ICB mutual funds have reported their NAVs. The First ICB MF recorded its NAV at Tk 3,145.08, Second ICB MF Tk. 853.34, Third ICB MF Tk. 697.14, Fourth ICB MF Tk. 888.07, Fifth ICB MF Tk. 833.18, Sixth ICB MF Tk. 288.74, Seventh ICB MF Tk 463.46 and Eighth ICB MF Tk 351.45 per unit on the basis of the current market price against face value of Tk 100 each.
However, all the market barometers -- DSE General Index (DGEN), All Shares Price Index (DSI) and DSE-20 Index (DS20) - gained 24.91 points, 20.15 points and 22.50 points Tuesday to close at 2990.49, 2520.18 and 2373.49 respectively.
Out of 219 traded issues, prices of 130 advanced, 63 declined and 26 remained unchanged.
The total turnover rose to Tk 1.27 billion in the day's trading, dominated by gainers, from Monday's Tk 1.21 billion. The total market capitalisation also rose to Tk 738.34 billion from Tk 733.42 billion.
"Small investors played a pivotal role in the market as they thought the banking sector would give them good return in the coming years," said a stock broker. Moreover, the institutional investors returned to the market after adjustment of loans ahead of the year-end, he added.
The United Commercial Bank Limited (UCBL), a Z-category issue, was the top turnover leader on the day with shares worth Tk 85.71 million changing hands. Stock prices of the bank opened at Tk 4624.00 and closed at Tk 4730.75.
Stock prices on the Dhaka Stock Exchange (DSE) registered a rise Tuesday for the third straight trading day amid persistent buying support from the retail and institutional investors.
The rise was led by the issues of the power and energy and banking sectors as well as mutual funds.
The prices of Eastern Lubricant, Padma Oil and BOC gained significantly following publications of Jamuna Oil Company Ltd's information document (prospectus) to raise Tk 135 million (13.5 crore) under the direct listing regulations of the stock exchanges.
As a result, investors became encouraged to buy the shares of oil and energy issues, which helped Eastern Lubricant shares rise 8.37 per cent, Padma Oil 5.47 per cent and BOC 5.29 per cent against those of the previous day.
Eastern Lubricant also reported a net profit of Tk. 1.52 million with an earning per share (EPS) of Tk. 1.53 until June 30, 2007 against Tk.1.49 million and Tk. 1.50 respectively as on June 30, 2006.
The declaration of net asset values (NAVs) of ICB mutual funds propelled the issues to rise.
The Fourth ICB Mutual Fund rose 7.36 per cent and ICB 5.78 per cent on the day.
As on close of operation on November 30 last, the ICB mutual funds have reported their NAVs. The First ICB MF recorded its NAV at Tk 3,145.08, Second ICB MF Tk. 853.34, Third ICB MF Tk. 697.14, Fourth ICB MF Tk. 888.07, Fifth ICB MF Tk. 833.18, Sixth ICB MF Tk. 288.74, Seventh ICB MF Tk 463.46 and Eighth ICB MF Tk 351.45 per unit on the basis of the current market price against face value of Tk 100 each.
However, all the market barometers -- DSE General Index (DGEN), All Shares Price Index (DSI) and DSE-20 Index (DS20) - gained 24.91 points, 20.15 points and 22.50 points Tuesday to close at 2990.49, 2520.18 and 2373.49 respectively.
Out of 219 traded issues, prices of 130 advanced, 63 declined and 26 remained unchanged.
The total turnover rose to Tk 1.27 billion in the day's trading, dominated by gainers, from Monday's Tk 1.21 billion. The total market capitalisation also rose to Tk 738.34 billion from Tk 733.42 billion.
"Small investors played a pivotal role in the market as they thought the banking sector would give them good return in the coming years," said a stock broker. Moreover, the institutional investors returned to the market after adjustment of loans ahead of the year-end, he added.
The United Commercial Bank Limited (UCBL), a Z-category issue, was the top turnover leader on the day with shares worth Tk 85.71 million changing hands. Stock prices of the bank opened at Tk 4624.00 and closed at Tk 4730.75.