Price correction, SEC move push down index
Saturday, 11 August 2007
FE Report
Stock prices on the Dhaka Stock Exchange (DSE) fell in the week ended Thursday amid price correction and withdrawal of netting facility of A-category shares.
The daily average turnover further declined by 13.05 per cent to Tk 1.28 billion from Tk 1.47 billion in the previous week.
All the market barometers- DSE General Index or DGEN, DSE 20 and All Share Price Index or DSI -shed 91.92 points, 97.72 points and 58.05 points respectively in the week.
DGEN, DSE 20 and DSI closed at 2304.20, 2061.65 and 1897.88 respectively.
DSE sources said the recent SEC (Securities and Exchange Commission) actions to place trading of the shares of AB Bank, Power Grid, Summit Power, DESCO and BRAC Bank in the spot market and suspension of the financial adjustment facilities for A, B, G and N category shares will affect the market further.
"Besides, the market is witnessing some corrections after a few months' rally," said a DSE source.
Square Pharma and Southeast Bank were the first and second turnover leaders with Tk 553.74 million and Tk 344.96 million traded, accounting for 8.65 per cent and 5.39 per cent respectively of the total volume.
United Commercial Bangladesh Ltd (UCBL), BRAC Bank, National Bank Limited, Square Textile, Summit Power, Pubali Bank, Prime Bank and EXIM Bank were the other top turnover leaders.
The UCBL shares attracted the investors when the company obtained the High Court order in favour of holding the pending annual general meetings (AGMs).
Three A-category issues -- Rupali Insurance, GQ Ball Pen and BGIC -- were the top gainers while National Life Insurance, Rahman Chemicals and AB Bank were the top losers in the week.
Meanwhile, the lottery for share allotment of International Leasing and Financial Services Ltd, a non-banking financial institution (NBFI), will be held tomorrow (Sunday) at 10-30 am at Bangladesh-China Friendship Conference Centre in the city.
The company's public offer ended on July 14.
Currently, listed NBFIs are IDLC, United Leasing, Uttara Finance, MIDAS Financing, First Lease International, People's Leasing, Prime Finance and Investment, Premier Leasing, Islamic Finance and Investment, LankaBangla Finance, Bangladesh Industrial Finance, IPDC and Union Capital Ltd.
Another NBFI -- Phoenix Investment -- will begin share trading soon on both the bourses.
Stock prices on the Dhaka Stock Exchange (DSE) fell in the week ended Thursday amid price correction and withdrawal of netting facility of A-category shares.
The daily average turnover further declined by 13.05 per cent to Tk 1.28 billion from Tk 1.47 billion in the previous week.
All the market barometers- DSE General Index or DGEN, DSE 20 and All Share Price Index or DSI -shed 91.92 points, 97.72 points and 58.05 points respectively in the week.
DGEN, DSE 20 and DSI closed at 2304.20, 2061.65 and 1897.88 respectively.
DSE sources said the recent SEC (Securities and Exchange Commission) actions to place trading of the shares of AB Bank, Power Grid, Summit Power, DESCO and BRAC Bank in the spot market and suspension of the financial adjustment facilities for A, B, G and N category shares will affect the market further.
"Besides, the market is witnessing some corrections after a few months' rally," said a DSE source.
Square Pharma and Southeast Bank were the first and second turnover leaders with Tk 553.74 million and Tk 344.96 million traded, accounting for 8.65 per cent and 5.39 per cent respectively of the total volume.
United Commercial Bangladesh Ltd (UCBL), BRAC Bank, National Bank Limited, Square Textile, Summit Power, Pubali Bank, Prime Bank and EXIM Bank were the other top turnover leaders.
The UCBL shares attracted the investors when the company obtained the High Court order in favour of holding the pending annual general meetings (AGMs).
Three A-category issues -- Rupali Insurance, GQ Ball Pen and BGIC -- were the top gainers while National Life Insurance, Rahman Chemicals and AB Bank were the top losers in the week.
Meanwhile, the lottery for share allotment of International Leasing and Financial Services Ltd, a non-banking financial institution (NBFI), will be held tomorrow (Sunday) at 10-30 am at Bangladesh-China Friendship Conference Centre in the city.
The company's public offer ended on July 14.
Currently, listed NBFIs are IDLC, United Leasing, Uttara Finance, MIDAS Financing, First Lease International, People's Leasing, Prime Finance and Investment, Premier Leasing, Islamic Finance and Investment, LankaBangla Finance, Bangladesh Industrial Finance, IPDC and Union Capital Ltd.
Another NBFI -- Phoenix Investment -- will begin share trading soon on both the bourses.