Heavyweights keep market buoyant as losers far outnumber gainers
Tuesday, 5 October 2010
FE Report
Dhaka stocks maintained their uptrend for the eighth consecutive session on Monday, lifted by heavyweights including Grameenphone and Square Pharmaceuticals.
However, the overall rise in stock prices on the day was rather modest.
The benchmark Dhaka Stock Exchange General Index (DGEN) closed at 7262.51 with a gain of 0.54 per cent or 39.02 points.
The broader All Shares Price Index (DSI) was up by 0.46 per cent or 27.76 points to 6059.23. The DSE-20 Index comprising blue chips gained 1.38 per cent or 57.98 points to 4235.64.
"Rally in Grameenphone, ICB and Square Pharmaceuticals shares has mainly pulled the market up," said BRAC-EPL, an investment bank, in its daily market commentary.
Grameenphone -- the most weighted shares at the DSE and the country's top mobile phone operator -- advanced 5.44 per cent.
Investment Corporation of Bangladesh (ICB), state-owned investment bank, shot up by 6.3 per cent and Square Pharmaceuticals - the country's number one pharmaceutical company -- went up by 4.6 per cent.
Banking issues - the market's bellwether - closed 0.84 per cent higher and non-banking financial institutions soared 1.20 per cent.
The turnover stood at Tk 24.4 billion, marginally down from the previous day's all time high of Tk 24.90 billion.
The losers outnumbered the gainers on the day as out of 243 issues traded, 97 closed positive, 141 declined and five remained unchanged.
Peoples Leasing, a leading non-banking financial institutions, was the turnover leader with shares worth Tk 1.0 billion changing hands.
Other turnover leaders were BSRM Steel, Square Pharmaceuticals, Exim Bank, Premier Bank, Prime Finance, Titas Gas, Beximco Ltd, Jamuna Oil and Square Textile.
Agrani Insurance gained highest 11.67 per cent, followed by Apex Spinning 9.15 per cent, Reliance Insurance 8.18 per cent, First Security Bank 8.17 per cent, BGIC 7.89 per cent, National Life Insurance 6.62 per cent, ICB 6.30 per cent and Premier Bank 5.76 per cent.
The top losers included Imam Button, Anwar Galvanising, Safko Spinning, Dulamia Cotton, Ambee Pharma, Monno Ceramics, City General Insurance, Karnaphuli Insurance and Kay and Que.
Dhaka stocks maintained their uptrend for the eighth consecutive session on Monday, lifted by heavyweights including Grameenphone and Square Pharmaceuticals.
However, the overall rise in stock prices on the day was rather modest.
The benchmark Dhaka Stock Exchange General Index (DGEN) closed at 7262.51 with a gain of 0.54 per cent or 39.02 points.
The broader All Shares Price Index (DSI) was up by 0.46 per cent or 27.76 points to 6059.23. The DSE-20 Index comprising blue chips gained 1.38 per cent or 57.98 points to 4235.64.
"Rally in Grameenphone, ICB and Square Pharmaceuticals shares has mainly pulled the market up," said BRAC-EPL, an investment bank, in its daily market commentary.
Grameenphone -- the most weighted shares at the DSE and the country's top mobile phone operator -- advanced 5.44 per cent.
Investment Corporation of Bangladesh (ICB), state-owned investment bank, shot up by 6.3 per cent and Square Pharmaceuticals - the country's number one pharmaceutical company -- went up by 4.6 per cent.
Banking issues - the market's bellwether - closed 0.84 per cent higher and non-banking financial institutions soared 1.20 per cent.
The turnover stood at Tk 24.4 billion, marginally down from the previous day's all time high of Tk 24.90 billion.
The losers outnumbered the gainers on the day as out of 243 issues traded, 97 closed positive, 141 declined and five remained unchanged.
Peoples Leasing, a leading non-banking financial institutions, was the turnover leader with shares worth Tk 1.0 billion changing hands.
Other turnover leaders were BSRM Steel, Square Pharmaceuticals, Exim Bank, Premier Bank, Prime Finance, Titas Gas, Beximco Ltd, Jamuna Oil and Square Textile.
Agrani Insurance gained highest 11.67 per cent, followed by Apex Spinning 9.15 per cent, Reliance Insurance 8.18 per cent, First Security Bank 8.17 per cent, BGIC 7.89 per cent, National Life Insurance 6.62 per cent, ICB 6.30 per cent and Premier Bank 5.76 per cent.
The top losers included Imam Button, Anwar Galvanising, Safko Spinning, Dulamia Cotton, Ambee Pharma, Monno Ceramics, City General Insurance, Karnaphuli Insurance and Kay and Que.