Most DSE shares tumble
Saturday, 24 November 2007
FE Report
The stock prices of most of the companies tumbled in the week ended Thursday triggered by a directive of the Securities and Exchange Commission (SEC) stopping disbursement of loans by the merchant banks and brokerage houses to the retail investors.
The share prices of blue-chip companies, however, gained when the DSE 20 index gained 30.90 points to close at 2356.44 at the end of the week.
Two other price barometers-DSE General Index or DGEN and All Share Price Index or DSI-shed 54.80 points and 45.15 points to close at 2958.20 and 2504.19 respectively.
Market operators said the latest SEC directive adversely affected the market as panic gripped the small investors.
"The big institutions were not, however, scared of the SEC action as they put their money in the portfolio of good companies," a leading merchant bank source told the FE.
The gaining of DSE 20 index in the week reflected the notion, he added.
The total market capitalisation also gained 0.33 per cent to Tk 731.43 billion in the week from Tk 729.06 billion.
The market capitalisation now hovers over $ 11 billion.
Out of 280 listed issues, only 61 gained, 172 declined, 19 remained unchanged and 28 were not traded.
BRAC Bank became the top turnover leader with Tk 723.34 million traded accounting for 6.95 per cent of the week's total turnover.
Power Grid was the second turnover leader with Tk 709.24 million traded accounting for 6.81 per cent of the week's total turnover.
Islami Bank, United Commercial Bank, Trust Bank, AB Bank, Square Textile, Social Investment Bank, Square Pharmaceuticals and Southeast Bank were the other turnover leaders.
Bd Welding, a Z-category issue became the top gainer in the week with a whopping 40.24 per cent rise on the rumour that Saudi investors will invest in the company.
"It is surprising that Bd Welding again became a tool of a group of punters with the same rumour that Saudi investors will invest and it triggered the company's share price to surge by about 60 per cent a few months back," a DSE source said.
Both the SEC and DSE found no evidence of Saudi investment proposal that time.
Eastern Lubricant was the fifth top gainer with 11.56 per cent rise in the week against the previous week.
The prices of Eastern Lubricant continued its rally on the news that Jamuna Oil and Meghna Oil will be directly listed on the bourses by the end of this month.
Meghna Condensed, ICB, Kay and Que, BATBC, Bata Shoe, Meghna Pet, Uttara Bank and Gulf Foods were the other gainers.
On the other hand, Dhaka Fisheries, Federal Insurance and Mithun Knitting were the top losers with 19.01 per cent, 15.20 per cent and 13.61 per cent decline respectively.
The stock prices of most of the companies tumbled in the week ended Thursday triggered by a directive of the Securities and Exchange Commission (SEC) stopping disbursement of loans by the merchant banks and brokerage houses to the retail investors.
The share prices of blue-chip companies, however, gained when the DSE 20 index gained 30.90 points to close at 2356.44 at the end of the week.
Two other price barometers-DSE General Index or DGEN and All Share Price Index or DSI-shed 54.80 points and 45.15 points to close at 2958.20 and 2504.19 respectively.
Market operators said the latest SEC directive adversely affected the market as panic gripped the small investors.
"The big institutions were not, however, scared of the SEC action as they put their money in the portfolio of good companies," a leading merchant bank source told the FE.
The gaining of DSE 20 index in the week reflected the notion, he added.
The total market capitalisation also gained 0.33 per cent to Tk 731.43 billion in the week from Tk 729.06 billion.
The market capitalisation now hovers over $ 11 billion.
Out of 280 listed issues, only 61 gained, 172 declined, 19 remained unchanged and 28 were not traded.
BRAC Bank became the top turnover leader with Tk 723.34 million traded accounting for 6.95 per cent of the week's total turnover.
Power Grid was the second turnover leader with Tk 709.24 million traded accounting for 6.81 per cent of the week's total turnover.
Islami Bank, United Commercial Bank, Trust Bank, AB Bank, Square Textile, Social Investment Bank, Square Pharmaceuticals and Southeast Bank were the other turnover leaders.
Bd Welding, a Z-category issue became the top gainer in the week with a whopping 40.24 per cent rise on the rumour that Saudi investors will invest in the company.
"It is surprising that Bd Welding again became a tool of a group of punters with the same rumour that Saudi investors will invest and it triggered the company's share price to surge by about 60 per cent a few months back," a DSE source said.
Both the SEC and DSE found no evidence of Saudi investment proposal that time.
Eastern Lubricant was the fifth top gainer with 11.56 per cent rise in the week against the previous week.
The prices of Eastern Lubricant continued its rally on the news that Jamuna Oil and Meghna Oil will be directly listed on the bourses by the end of this month.
Meghna Condensed, ICB, Kay and Que, BATBC, Bata Shoe, Meghna Pet, Uttara Bank and Gulf Foods were the other gainers.
On the other hand, Dhaka Fisheries, Federal Insurance and Mithun Knitting were the top losers with 19.01 per cent, 15.20 per cent and 13.61 per cent decline respectively.