Investors keep wary eyes on BB monetary policy
Saturday, 14 July 2007
FE Report
Stock prices remained mixed on the Dhaka Stock Exchange (DSE) last week that ended Thursday though the market was affected in the last working day when the central bank said it will continue its cautious and restrictive monetary policy in the July-December period of fiscal 2007-08.
'Institutional investors, the key players became cautious after the Bangladesh Bank's monetary policy statement announced Thursday,' a DSE source said.
He said the market also witnessed some price corrections after a couple of days of rise.
The central bank also will revisit key policy rates and policy instruments such as statutory liquidity ratio and cash reserve ratio for banks, he hinted. The announcements caused some concern among the institutional investors, the key players in the stock market, market operators said.
DSE General Index or DGEN crossed the 2200-mark in the week and closed at 2204.13 points up by 5.40 points in the previous week.
DSE 20, the index of blue-chip companies shed 11.63 points and closed at 1879.57.
All Share Price Index or DSI- gained 1.18 points to close at 1807.32.
The daily average turnover declined by 8.24 per cent at Tk 1.670 billion from Tk 1.820 billion.
The total market capitalisation rose to Tk 493.49 billion from Tk 485.26 billion.
Modern Cement, a Z-category company became the top gainer in the week with 36.59 per cent rise at Tk 5.60 per share.
"Genuine investors don't see any reason for such rise of the Modern Cement share," a DSE source said.
Saiham Textile, a B-category company that became the top gainer in the previous week with 59.52 per cent was the top loser company last week with 21.75 per cent decline.
BRAC Bank and Power Grid were the first and second turnover leaders with Tk 542.17 million and Tk 473.58 million of their shares being traded and accounting for 6.49 per cent and 5.67 per cent respectively of the total trading.
Summit Power, Square Pharma, DESCO, Grameen Mutual One, AIMS First Mutual Fund, AB Bank, HeidelbergCement and Shahjalal Islami Bank were the other top turnover leaders.
A total of 116 issues gained, 113 declined and 14 remained unchanged in the week.
Meanwhile, the five-day long subscription of Trust Bank begins tomorrow (Sunday).
The bank will issue 4,666,700 shares with the offer price of Tk 150 including a premium of Tk 50 per share.
Stock prices remained mixed on the Dhaka Stock Exchange (DSE) last week that ended Thursday though the market was affected in the last working day when the central bank said it will continue its cautious and restrictive monetary policy in the July-December period of fiscal 2007-08.
'Institutional investors, the key players became cautious after the Bangladesh Bank's monetary policy statement announced Thursday,' a DSE source said.
He said the market also witnessed some price corrections after a couple of days of rise.
The central bank also will revisit key policy rates and policy instruments such as statutory liquidity ratio and cash reserve ratio for banks, he hinted. The announcements caused some concern among the institutional investors, the key players in the stock market, market operators said.
DSE General Index or DGEN crossed the 2200-mark in the week and closed at 2204.13 points up by 5.40 points in the previous week.
DSE 20, the index of blue-chip companies shed 11.63 points and closed at 1879.57.
All Share Price Index or DSI- gained 1.18 points to close at 1807.32.
The daily average turnover declined by 8.24 per cent at Tk 1.670 billion from Tk 1.820 billion.
The total market capitalisation rose to Tk 493.49 billion from Tk 485.26 billion.
Modern Cement, a Z-category company became the top gainer in the week with 36.59 per cent rise at Tk 5.60 per share.
"Genuine investors don't see any reason for such rise of the Modern Cement share," a DSE source said.
Saiham Textile, a B-category company that became the top gainer in the previous week with 59.52 per cent was the top loser company last week with 21.75 per cent decline.
BRAC Bank and Power Grid were the first and second turnover leaders with Tk 542.17 million and Tk 473.58 million of their shares being traded and accounting for 6.49 per cent and 5.67 per cent respectively of the total trading.
Summit Power, Square Pharma, DESCO, Grameen Mutual One, AIMS First Mutual Fund, AB Bank, HeidelbergCement and Shahjalal Islami Bank were the other top turnover leaders.
A total of 116 issues gained, 113 declined and 14 remained unchanged in the week.
Meanwhile, the five-day long subscription of Trust Bank begins tomorrow (Sunday).
The bank will issue 4,666,700 shares with the offer price of Tk 150 including a premium of Tk 50 per share.