Resurgent junk issues keep investors' hopes alive
Thursday, 13 December 2007
FE Report
Stock prices on the Dhaka Stock Exchange (DSE) remained mixed Wednesday for the second consecutive day amid a steady trading.
The turnover, however, increased to Tk 1.10 billion against the previous day's Tk 960.97 million propelled by the news that a division bench of the High Court (HC) has vacated the stay order on the Securities and Exchange Commission's move to reconstitute the boards of the Z-category companies, the worst performing issues in the stock market to improve their financial health.
Stock prices of 25 out of 67 Z-category issues traded on the day recorded significant rise on the news.
The Z-category issues those marked significant rise include Bd Dyeing, Aziz Pipes, Dynamic Textile, Eagle Star and Excelsior Shoes.
The directive has a provision to include general shareholders in the board of directors of a Z-category company.
"The investors are injecting their fund on the Z-category securities expecting good return in the days to come following the positive news on Z-category issues," according to a broker.
Prices of the BD Dyeing, top gainer of the day, increased by 10.34 per cent, Dynamic Textile by 6.57 per cent, Excelsior Shoe by 5.88 per cent, Eagle Star by 5.00 per cent, BD Thai Aluminum by 4.92 per cent and Aziz Pipes by 4.40 per cent.
The total market capitalisation slightly declined to Tk 720.33 billion from Tk 720.77 billion.
The market barometers -- DSE General Index (DGEN) and All Shares Price Index (DSI) -- shed 1.20 points and 1.83 points to close at 2898.34 and 2446.42 respectively. But the DSE-20 Index (DS20), comprising blue chips gained 2.81 points to close at 2310.52.
However, the key index -- DGEN -- gained over 13 points in first one hour of the trading and later began to decline due to profit taking by the investors.
Out of 221 traded issues, prices of only 86 advanced, 105 declined and 30 remained unchanged.
The Exim Bank topped the list of the top ten turnover leaders for the second consecutive day with its shares worth Tk 95.94 million changing hands. Prices of the bank's shares opened at Tk 392.75 and closed at Tk 392.50.
Stock prices on the Dhaka Stock Exchange (DSE) remained mixed Wednesday for the second consecutive day amid a steady trading.
The turnover, however, increased to Tk 1.10 billion against the previous day's Tk 960.97 million propelled by the news that a division bench of the High Court (HC) has vacated the stay order on the Securities and Exchange Commission's move to reconstitute the boards of the Z-category companies, the worst performing issues in the stock market to improve their financial health.
Stock prices of 25 out of 67 Z-category issues traded on the day recorded significant rise on the news.
The Z-category issues those marked significant rise include Bd Dyeing, Aziz Pipes, Dynamic Textile, Eagle Star and Excelsior Shoes.
The directive has a provision to include general shareholders in the board of directors of a Z-category company.
"The investors are injecting their fund on the Z-category securities expecting good return in the days to come following the positive news on Z-category issues," according to a broker.
Prices of the BD Dyeing, top gainer of the day, increased by 10.34 per cent, Dynamic Textile by 6.57 per cent, Excelsior Shoe by 5.88 per cent, Eagle Star by 5.00 per cent, BD Thai Aluminum by 4.92 per cent and Aziz Pipes by 4.40 per cent.
The total market capitalisation slightly declined to Tk 720.33 billion from Tk 720.77 billion.
The market barometers -- DSE General Index (DGEN) and All Shares Price Index (DSI) -- shed 1.20 points and 1.83 points to close at 2898.34 and 2446.42 respectively. But the DSE-20 Index (DS20), comprising blue chips gained 2.81 points to close at 2310.52.
However, the key index -- DGEN -- gained over 13 points in first one hour of the trading and later began to decline due to profit taking by the investors.
Out of 221 traded issues, prices of only 86 advanced, 105 declined and 30 remained unchanged.
The Exim Bank topped the list of the top ten turnover leaders for the second consecutive day with its shares worth Tk 95.94 million changing hands. Prices of the bank's shares opened at Tk 392.75 and closed at Tk 392.50.