Indices, turnover plummet on DSE
FE Report | Monday, 28 March 2011
FE Report
The Dhaka Stock Exchange (DSE) opened the week Sunday with fall, as most of the big capital companies lost prices amid significant decline in the turnover. All the indices tumbled on the day. Although the number of gainers and losers were almost even on the day, fall in prices of big capital companies pulled down the main index DGEN which plummeted by 70.18 points to settle at 6094.63. DSE All Shares Price Index (DSI) fell by 55.55 points to settle at 5055.50. Out of the total traded issues, 126 gained, while 127 declined on the day. Price adjustment of four companies after record date also prompted the indices' fall, market insiders observed. Uttara Bank, NCC Bank, SIBL and Sonargaon Textile experienced massive price adjustment after record date for dividends entitlement. The four companies lost 21.98 per cent, 28.68 per cent, 37.55 per cent and 37.88 per cent respectively on the day. Big capital companies including bank, NBFIs and fuel and power sectors lost prices on the day. Among the 30 listed banks, only two gained, while among 11 listed fuel sector companies five gained and among 21 listed NBFIs only six gained on the day. The turnover in value terms also experienced massive decline which stood at Tk 6.25 billion due mainly to 'wait and see' policy by the institutional investors. The top turnover list comprises of Beximco Ltd, Golden Sons, Titas Gas, PLFSL, RN Spinning, Maksons Spinning, Deshbandhu, Aftab Auto, Bextex and Singer Bd. Market insiders said big market players are observing the situation, as the three-member probe committee formed on capital market crash which is headed by prominent banker Khandaker Ibrahim Khaled is set to publish its investigation report very soon. One of the leading brokers, on condition of anonymity, told the FE that market players were bit shaky considering the possible outcome of the probe report. No body is sure who will be made responsible for the recent unusual price fall in the capital market, he added. Market analyst Salahuddin Ahmed Khan said the proposed Bangladesh Fund remains as a critical issue for the capital market. The longer time it takes to get listed in the capital market the more confusion among the general investor arises. Government should take steps to give permission to the proposed fund as soon as possible, he added. When asked if the probe committee report will cast any impact on the market, Mr Khan made no comments. Prices of most of companies with small capital gained heavily on the day. The top gainers list consists of BD Autocar, Keya Detergent, Apex Foods, ICB Islamic MF, Miracle Industries, Bangas, Fine Foods, Phonix Finance 1st MF, 3rd ICB and Pharma Aid. Among the major sectors, banks lost 2.44 per cent, while NBFIs 1.43 per cent, fuel and power 0.29 per cent, tannery 2.47 per cent and jute 1.03 per cent on the day. Among the gainers sector, pharmaceuticals gained 0.23 per cent, while mutual fund 0.50 per cent, general insurance 0.03 per cent, life insurance 0.41 per cent, cement 0.09 per cent and textile 0.02 per cent. A total of 58.07 million shares changed hands on the day against 86.70 million Thursday. The trade deals also decreased to 137353 which were 176,218 in the previous session. The market capitalisation also dropped and stood at Tk 2753 billion against Tk 2772.52 billion Thursday trading.
The Dhaka Stock Exchange (DSE) opened the week Sunday with fall, as most of the big capital companies lost prices amid significant decline in the turnover. All the indices tumbled on the day. Although the number of gainers and losers were almost even on the day, fall in prices of big capital companies pulled down the main index DGEN which plummeted by 70.18 points to settle at 6094.63. DSE All Shares Price Index (DSI) fell by 55.55 points to settle at 5055.50. Out of the total traded issues, 126 gained, while 127 declined on the day. Price adjustment of four companies after record date also prompted the indices' fall, market insiders observed. Uttara Bank, NCC Bank, SIBL and Sonargaon Textile experienced massive price adjustment after record date for dividends entitlement. The four companies lost 21.98 per cent, 28.68 per cent, 37.55 per cent and 37.88 per cent respectively on the day. Big capital companies including bank, NBFIs and fuel and power sectors lost prices on the day. Among the 30 listed banks, only two gained, while among 11 listed fuel sector companies five gained and among 21 listed NBFIs only six gained on the day. The turnover in value terms also experienced massive decline which stood at Tk 6.25 billion due mainly to 'wait and see' policy by the institutional investors. The top turnover list comprises of Beximco Ltd, Golden Sons, Titas Gas, PLFSL, RN Spinning, Maksons Spinning, Deshbandhu, Aftab Auto, Bextex and Singer Bd. Market insiders said big market players are observing the situation, as the three-member probe committee formed on capital market crash which is headed by prominent banker Khandaker Ibrahim Khaled is set to publish its investigation report very soon. One of the leading brokers, on condition of anonymity, told the FE that market players were bit shaky considering the possible outcome of the probe report. No body is sure who will be made responsible for the recent unusual price fall in the capital market, he added. Market analyst Salahuddin Ahmed Khan said the proposed Bangladesh Fund remains as a critical issue for the capital market. The longer time it takes to get listed in the capital market the more confusion among the general investor arises. Government should take steps to give permission to the proposed fund as soon as possible, he added. When asked if the probe committee report will cast any impact on the market, Mr Khan made no comments. Prices of most of companies with small capital gained heavily on the day. The top gainers list consists of BD Autocar, Keya Detergent, Apex Foods, ICB Islamic MF, Miracle Industries, Bangas, Fine Foods, Phonix Finance 1st MF, 3rd ICB and Pharma Aid. Among the major sectors, banks lost 2.44 per cent, while NBFIs 1.43 per cent, fuel and power 0.29 per cent, tannery 2.47 per cent and jute 1.03 per cent on the day. Among the gainers sector, pharmaceuticals gained 0.23 per cent, while mutual fund 0.50 per cent, general insurance 0.03 per cent, life insurance 0.41 per cent, cement 0.09 per cent and textile 0.02 per cent. A total of 58.07 million shares changed hands on the day against 86.70 million Thursday. The trade deals also decreased to 137353 which were 176,218 in the previous session. The market capitalisation also dropped and stood at Tk 2753 billion against Tk 2772.52 billion Thursday trading.