Investors remain indecisive
FE Report | Saturday, 21 June 2008
The Dhaka Stock Exchange (DSE) witnessed downtrend in the week that ended Thursday amid limited participation of investors as it went for action to cool down the overheated market.
The prime bourse passed the uneasy week as the investors remained indecisive in chasing the stocks, triggered by the DSE's trading restrictions of issues that saw abnormal hike in their prices, market sources said.
The market opened negatively and finished also with the same note but it marginally gained in second, third and fourth sessions.
All the market barometers -- the benchmark DSE General Index (DGEN) and All Shares Price Index shed 30.05 points and 22.17 points to close at 3040.70 and 2580.26 respectively.
However, DSE-20 (DS20), comprising blue chips, marginally gained 3.62 points to end at 2537.46.
In the second session Monday, a group of investors took to the street against the move to tame the unusual rise in the price of some particular issues.
An expert says the source of rumour needs to be strangulated first for the sustainable development of the stock market.
Otherwise, there will be little benefit in taking restrictive measures to tame the market for the short term but not for long term, he ads.
The Securities and Exchange Commission (SEC) in a recent meeting asked the DSE and Chittagong Stock Exchange (CSE) to use restrictive tools to cool down the overheated market.
The daily average turnover significantly declined 37.80 per cent to Tk 2.42 billion from previous week's Tk 3.89 billion. Out of 286 issues traded, 89 advanced, 157 declined and five remained unchanged.
However, the total market capitalisation slightly rose 1.01 per cent to Tk 890.16 against Tk 881.28 billion.
Share prices of the Delta Life Insurance, a Z-category issue, posted the highest gain of 11.50 per cent.
BDCOM Online Limited was the second top gainer with 10.60 per cent rise in its share prices, followed by Agrani Insurance 10.18 per cent, 8th ICB Mutual Fund 10.09 per cent, Reliance Insurance 9.68 per cent, Modern Industries 9.65 per cent, Nitol Insurance 9.59 per cent, Bangladesh Online 9.43 per cent, Beximco Pharma 8.60 per cent and Asia Pacific General Insurance 7.60 per cent.
Beximco Pharma, accounting for 6.38 per cent of the total transaction of the week, was the top turnover leader with shares worth Tk 773.65 million traded.
Accounting for 4.70 per cent, AIMS First Mutual Fund was the second top turnover leader with shares worth Tk 570.12 million changing hands and Square Pharma bagged the third position with shares worth Tk 535.14 million traded.
Other turnover leaders were Shahjalal Islami Bank, Lanka Bangla Finance Company, BEXIMCO, Lafarge Surma Cement, Apex Tannery, Exim Bank and NCC Bank Limited.
Stock prices of Exim Bank were the top losers, posting a fall of 23.46 per cent as the bank went ex-dividend during the week.
CMC Kamal, Summit Power, Kay and Que, Al Arfah Islami Bank, Purabi General Insurance, Northern Jute, Rangamati Food, Janata Insurance and Maq Paper were the other top losers in the week.
The A-category issue accounted for 84.54 per cent of the total turnover during the week, while B-category issue shared 1.59 per cent, G-category 2.39 per cent, N-category 8.87 per cent and Z-category 2.61 per cent.
The prime bourse passed the uneasy week as the investors remained indecisive in chasing the stocks, triggered by the DSE's trading restrictions of issues that saw abnormal hike in their prices, market sources said.
The market opened negatively and finished also with the same note but it marginally gained in second, third and fourth sessions.
All the market barometers -- the benchmark DSE General Index (DGEN) and All Shares Price Index shed 30.05 points and 22.17 points to close at 3040.70 and 2580.26 respectively.
However, DSE-20 (DS20), comprising blue chips, marginally gained 3.62 points to end at 2537.46.
In the second session Monday, a group of investors took to the street against the move to tame the unusual rise in the price of some particular issues.
An expert says the source of rumour needs to be strangulated first for the sustainable development of the stock market.
Otherwise, there will be little benefit in taking restrictive measures to tame the market for the short term but not for long term, he ads.
The Securities and Exchange Commission (SEC) in a recent meeting asked the DSE and Chittagong Stock Exchange (CSE) to use restrictive tools to cool down the overheated market.
The daily average turnover significantly declined 37.80 per cent to Tk 2.42 billion from previous week's Tk 3.89 billion. Out of 286 issues traded, 89 advanced, 157 declined and five remained unchanged.
However, the total market capitalisation slightly rose 1.01 per cent to Tk 890.16 against Tk 881.28 billion.
Share prices of the Delta Life Insurance, a Z-category issue, posted the highest gain of 11.50 per cent.
BDCOM Online Limited was the second top gainer with 10.60 per cent rise in its share prices, followed by Agrani Insurance 10.18 per cent, 8th ICB Mutual Fund 10.09 per cent, Reliance Insurance 9.68 per cent, Modern Industries 9.65 per cent, Nitol Insurance 9.59 per cent, Bangladesh Online 9.43 per cent, Beximco Pharma 8.60 per cent and Asia Pacific General Insurance 7.60 per cent.
Beximco Pharma, accounting for 6.38 per cent of the total transaction of the week, was the top turnover leader with shares worth Tk 773.65 million traded.
Accounting for 4.70 per cent, AIMS First Mutual Fund was the second top turnover leader with shares worth Tk 570.12 million changing hands and Square Pharma bagged the third position with shares worth Tk 535.14 million traded.
Other turnover leaders were Shahjalal Islami Bank, Lanka Bangla Finance Company, BEXIMCO, Lafarge Surma Cement, Apex Tannery, Exim Bank and NCC Bank Limited.
Stock prices of Exim Bank were the top losers, posting a fall of 23.46 per cent as the bank went ex-dividend during the week.
CMC Kamal, Summit Power, Kay and Que, Al Arfah Islami Bank, Purabi General Insurance, Northern Jute, Rangamati Food, Janata Insurance and Maq Paper were the other top losers in the week.
The A-category issue accounted for 84.54 per cent of the total turnover during the week, while B-category issue shared 1.59 per cent, G-category 2.39 per cent, N-category 8.87 per cent and Z-category 2.61 per cent.