DSE turnover crosses Tk 5-billion mark
FE Report | Monday, 9 June 2008
The total turnover of Dhaka Stock Exchange (DSE) crossed Tk 5.0 billion-mark Sunday for the first time with stock prices gaining for the fourth straight day by rally of Beximco group, insurance, leasing and IT issues.
The turnover in Chittagong Stock Exchange (CSE) also rose to Tk 883.11 million from Tk 696.51 million of Thursday last week.
The transaction on the DSE was, however, affected due to online disruption and as a result, the closing time was extended upto 3:00 pm instead of 2:00 pm as trading was forced to be halted for one hour from 10: 43 am to 11: 47 am due to technical glitches.
On the back of huge transaction of Beximco Pharma and AIMS First Mutual Fund, the total turnover hit Tk 5.50 billion against the previous all time high of Tk 4.98 billion.
Around 60 per cent of the buying binge came from institutional investors and rest from small investors, pushing the turnover to reach an all time high, said a DSE source.
All the Beximco group issues shined again on the day on the rumour that its vice chairman might be freed soon as the court already has relieved him from one charge and Information Technology (IT) also rose propelled by the recent telecom regulators move to cut tariff rate of internet user, facilitating the IT sector to grow at a faster pace, market sources said.
Share prices of Beximco Pharma posted a record rise of 17.42 per cent to close at Tk 103.80 per share, making it the top turnover leader with shares worth Tk 441.71 million traded.
Shinepukur, the Z-category issue, whooped 17.17 per cent, followed by BEXIMCO 16.88 per cent, Beximco Fishery 13.66 per cent, BD Online 16.15 per cent and Beximco Synthetic 9.17 per cent.
ISN Limited posted a rise of 1.50 per cent, followed by Bdcom Online 3.80 per cent, Agni System Limited 5.02 per cent, Daffodil Computers 2.52 per cent.
The market barometers -- the benchmark index DSE General Index (DGEN), All Shares Price Index (DSI) and DSE-20 (DS20) -- rose 25.35 points, 18.61 points and 44.39 points to close at 3179.54, 2693.43 and 2624.47 respectively.
Gainers dominated over the losers as out of 244 issues traded on the day, 132 advanced, 103 declined and nine remained unchanged.
The market capitalisation rose to Tk 895.14 billion against Tk 880.05 billion of the previous trading day.
"Risks in investment on some issues continued to rise, and this remains a genuine concern in the stock market," a market analyst said adding that this trend should not continue.
On the record turnover, he said, "The huge turnover proves that the market has enough fund. Immediate supply of quality shares is required to utilise this huge fund and also to reduce the risk of investors."
But the real concern is that the investors made their investment based on rumours and not on fundamentals, he said.
AIMS First Mutual Fund was the second top turnover leader with shares worth Tk 262.13 million, followed by Square Pharma with Tk 178.04 million, Lanka Bangla Finance Tk 162.20 million, Grameen One Tk 144.56 million, Summit Power Tk 135.25 million and BATBC Tk 134.48 million traded.
Share prices of the BD Thai, a Z-category issue, had the biggest gain of 51.19 per cent on it recommended 10 per cent cash dividend.
Mona Food was the top loser with 10.17 per cent fall in its share price due to price correction.
The turnover in Chittagong Stock Exchange (CSE) also rose to Tk 883.11 million from Tk 696.51 million of Thursday last week.
The transaction on the DSE was, however, affected due to online disruption and as a result, the closing time was extended upto 3:00 pm instead of 2:00 pm as trading was forced to be halted for one hour from 10: 43 am to 11: 47 am due to technical glitches.
On the back of huge transaction of Beximco Pharma and AIMS First Mutual Fund, the total turnover hit Tk 5.50 billion against the previous all time high of Tk 4.98 billion.
Around 60 per cent of the buying binge came from institutional investors and rest from small investors, pushing the turnover to reach an all time high, said a DSE source.
All the Beximco group issues shined again on the day on the rumour that its vice chairman might be freed soon as the court already has relieved him from one charge and Information Technology (IT) also rose propelled by the recent telecom regulators move to cut tariff rate of internet user, facilitating the IT sector to grow at a faster pace, market sources said.
Share prices of Beximco Pharma posted a record rise of 17.42 per cent to close at Tk 103.80 per share, making it the top turnover leader with shares worth Tk 441.71 million traded.
Shinepukur, the Z-category issue, whooped 17.17 per cent, followed by BEXIMCO 16.88 per cent, Beximco Fishery 13.66 per cent, BD Online 16.15 per cent and Beximco Synthetic 9.17 per cent.
ISN Limited posted a rise of 1.50 per cent, followed by Bdcom Online 3.80 per cent, Agni System Limited 5.02 per cent, Daffodil Computers 2.52 per cent.
The market barometers -- the benchmark index DSE General Index (DGEN), All Shares Price Index (DSI) and DSE-20 (DS20) -- rose 25.35 points, 18.61 points and 44.39 points to close at 3179.54, 2693.43 and 2624.47 respectively.
Gainers dominated over the losers as out of 244 issues traded on the day, 132 advanced, 103 declined and nine remained unchanged.
The market capitalisation rose to Tk 895.14 billion against Tk 880.05 billion of the previous trading day.
"Risks in investment on some issues continued to rise, and this remains a genuine concern in the stock market," a market analyst said adding that this trend should not continue.
On the record turnover, he said, "The huge turnover proves that the market has enough fund. Immediate supply of quality shares is required to utilise this huge fund and also to reduce the risk of investors."
But the real concern is that the investors made their investment based on rumours and not on fundamentals, he said.
AIMS First Mutual Fund was the second top turnover leader with shares worth Tk 262.13 million, followed by Square Pharma with Tk 178.04 million, Lanka Bangla Finance Tk 162.20 million, Grameen One Tk 144.56 million, Summit Power Tk 135.25 million and BATBC Tk 134.48 million traded.
Share prices of the BD Thai, a Z-category issue, had the biggest gain of 51.19 per cent on it recommended 10 per cent cash dividend.
Mona Food was the top loser with 10.17 per cent fall in its share price due to price correction.