DSE turnover lowest in over nine months
Monday, 17 November 2008
FE Report
Dhaka stocks dropped for the second straight session Sunday with the turnover declining to the lowest level in more than nine months.
The benchmark DSE General Index (DGEN), the All Shares Price Index (DSI) and the DSE20 blue chip index shed 40.09 points, 31.64 points and 21.89 points to close at 2636.73, 2186.07 and 2237.36 respectively.
Trading at the Dhaka Stock Exchange (DSE) started in a downbeat mood from the very outset. The benchmark index continued to slide and never regained until close of the trade.
The day's total turnover was Tk 1.35 billion, the lowest ever since February 24 this year when it was Tk 1.16 billion, against the previous session's Tk 2.34 billion.
The turnover, however, hit Tk 1.30 billion on July 9 this year when the bourse saw one-hour trade instead of the usual four hours, because the maximum brokerage houses on the day failed to log onto the main server of the bourse due to a computer virus, creating a crisis of quorum required to begin trade.
However, stocks Sunday passed through another cheerless session as the investors remained skeptical about implementation of the decisions taken by the Securities and Exchange Commission (SEC) to make efforts aimed at reversing the bearish market, according to the market operators.
Moreover, some investors got ready to chase the securities of ACI Formulations Limited and Shinepukur Ceramics Limited expected to make debut tomorrow (Tuesday) under direct listing regulations, according to stockbrokers.
"The market is weighed down by some negative factors and there's still a lot of skepticism out there," a market analyst said, adding that investors appeared to be taking a wait and see approach, apparently awaiting some positive developments from the SEC.
On November 4 last, being worried about the continuous slump of the market, the SEC held a meeting with merchant banks and announced that the commission was actively considering increasing soon the margin loan ratio for merchant banks and relaxing the margin loan exposure limit of non-bank financial institutions to improve the liquidity situation in the stock market.
Of the total 234 issues traded Sunday, 65 gained, 165 declined and four remained unchanged. The market capitalisation continued to come down to Tk 955.72 billion from Thursday's Tk 965.52 billion.
Beximco Pharma was the top turnover leader with shares worth Tk 118.82 million traded. Beximco Limited, Uttara Bank, Titas Gas, ACI Limited, GrameenS2 Mutual Fund, Islami Bank, AIMS First Mutual Fund, IFIC and Square Pharma were the day's next other turnover leaders in terms of value.
Top gainers of the day were Fine Foods, Beach Hatchery, Meghna Condensed Milk, Rangamati Food, Bionic Food, Meghna Pet, M Hossain Garments, Meghna Shrimp, Savar Refractories and Rose Heaven Ball.
BLTC, Tamijuddin Textile, Safko Spinning, Golden Son, 8th ICB, Rangpur Foundry, United Insurance, Mithun Knitting, Apex Weaving, and 2nd ICB were the top losers on the day.
Dhaka stocks dropped for the second straight session Sunday with the turnover declining to the lowest level in more than nine months.
The benchmark DSE General Index (DGEN), the All Shares Price Index (DSI) and the DSE20 blue chip index shed 40.09 points, 31.64 points and 21.89 points to close at 2636.73, 2186.07 and 2237.36 respectively.
Trading at the Dhaka Stock Exchange (DSE) started in a downbeat mood from the very outset. The benchmark index continued to slide and never regained until close of the trade.
The day's total turnover was Tk 1.35 billion, the lowest ever since February 24 this year when it was Tk 1.16 billion, against the previous session's Tk 2.34 billion.
The turnover, however, hit Tk 1.30 billion on July 9 this year when the bourse saw one-hour trade instead of the usual four hours, because the maximum brokerage houses on the day failed to log onto the main server of the bourse due to a computer virus, creating a crisis of quorum required to begin trade.
However, stocks Sunday passed through another cheerless session as the investors remained skeptical about implementation of the decisions taken by the Securities and Exchange Commission (SEC) to make efforts aimed at reversing the bearish market, according to the market operators.
Moreover, some investors got ready to chase the securities of ACI Formulations Limited and Shinepukur Ceramics Limited expected to make debut tomorrow (Tuesday) under direct listing regulations, according to stockbrokers.
"The market is weighed down by some negative factors and there's still a lot of skepticism out there," a market analyst said, adding that investors appeared to be taking a wait and see approach, apparently awaiting some positive developments from the SEC.
On November 4 last, being worried about the continuous slump of the market, the SEC held a meeting with merchant banks and announced that the commission was actively considering increasing soon the margin loan ratio for merchant banks and relaxing the margin loan exposure limit of non-bank financial institutions to improve the liquidity situation in the stock market.
Of the total 234 issues traded Sunday, 65 gained, 165 declined and four remained unchanged. The market capitalisation continued to come down to Tk 955.72 billion from Thursday's Tk 965.52 billion.
Beximco Pharma was the top turnover leader with shares worth Tk 118.82 million traded. Beximco Limited, Uttara Bank, Titas Gas, ACI Limited, GrameenS2 Mutual Fund, Islami Bank, AIMS First Mutual Fund, IFIC and Square Pharma were the day's next other turnover leaders in terms of value.
Top gainers of the day were Fine Foods, Beach Hatchery, Meghna Condensed Milk, Rangamati Food, Bionic Food, Meghna Pet, M Hossain Garments, Meghna Shrimp, Savar Refractories and Rose Heaven Ball.
BLTC, Tamijuddin Textile, Safko Spinning, Golden Son, 8th ICB, Rangpur Foundry, United Insurance, Mithun Knitting, Apex Weaving, and 2nd ICB were the top losers on the day.