Stock mkt picks up its steam last week
Sunday, 23 March 2008
FE Report
Dhaka stock market bounced back in the week ended Thursday amid increased participation of institutional and small investors.
"The market picked up its steam in the past week with the support coming mainly from institutional investors," said a DSE source.
Although the market started with a depressed mood it made a come-back on the third session of the week, when investors returned to reap benefit from the fall of share prices.
The daily average turnover, however, declined by 10.39 per cent to Tk 2.86 billion from Tk 3.20 billion.
All the market barometers - Dhaka Stock Exchange (DSE) General Index (DGEN), All Share Price Index (DSI) and DSE20 - gained 1.89 per cent or 55.99 points, 1.85 per cent or 46.30 points and 1.05 per cent or 23.37 points to close at 3025.49, 2554.73 and 2258.87 respectively on the last trading day of the week.
Out of 285 traded issues, share prices of 184 advanced, 80 declined, one remained unchanged and 20 were not traded.
Stock prices of banking companies lost as they did not declare the dividend up to the expectation of the traders, market sources said adding mutual funds and pharmaceuticals shares attracted the investors on the news that some mutual funds will hit the market and some pharmaceutical industries will expand their business globally soon.
The total market capitalisation rose by 1.49 per cent to Tk 824.86 billion from previous week's Tk 812.74 billion.
Among the top ten gainers, four were from the Z-category companies when the investors anticipated that the recast of the worst-performing companies as directed by the Securities and Exchange Commission within June, 2008 will help improve the management of the companies.
The four Z-category companies Pharmaco International, BLTC, Perfume Chemicals, and Therapeutics recorded whopping rises of 103.09 per cent, 91.29 per cent, 69.95 per cent and 65.80 per cent respectively.
Among other top gainers, Ambee Pharma, Dulamia Cotton, 1st BSRS, ICB, Samorita Hospital and Safko Spinning posted a rise of 102.90 points, 65.98 per cent, 59.72 per cent, 58.95 per cent, 58.04 per cent and 57.31 per cent respectively.
The Grameen Mutual Fund One was the top turnover leader with Tk 855.28 million traded, accounting for 5.96 per cent of the total market turnover.
Square Pharma, AB Bank, Beximco Pharma, Lafarge Surma Cement, Power Grid, ICB AMCL 1st NRB Mutual Fund, ACI Limited, Apex Adelchi and Atlas Bangladesh were the other turnover leaders of the week.
Dhaka stock market bounced back in the week ended Thursday amid increased participation of institutional and small investors.
"The market picked up its steam in the past week with the support coming mainly from institutional investors," said a DSE source.
Although the market started with a depressed mood it made a come-back on the third session of the week, when investors returned to reap benefit from the fall of share prices.
The daily average turnover, however, declined by 10.39 per cent to Tk 2.86 billion from Tk 3.20 billion.
All the market barometers - Dhaka Stock Exchange (DSE) General Index (DGEN), All Share Price Index (DSI) and DSE20 - gained 1.89 per cent or 55.99 points, 1.85 per cent or 46.30 points and 1.05 per cent or 23.37 points to close at 3025.49, 2554.73 and 2258.87 respectively on the last trading day of the week.
Out of 285 traded issues, share prices of 184 advanced, 80 declined, one remained unchanged and 20 were not traded.
Stock prices of banking companies lost as they did not declare the dividend up to the expectation of the traders, market sources said adding mutual funds and pharmaceuticals shares attracted the investors on the news that some mutual funds will hit the market and some pharmaceutical industries will expand their business globally soon.
The total market capitalisation rose by 1.49 per cent to Tk 824.86 billion from previous week's Tk 812.74 billion.
Among the top ten gainers, four were from the Z-category companies when the investors anticipated that the recast of the worst-performing companies as directed by the Securities and Exchange Commission within June, 2008 will help improve the management of the companies.
The four Z-category companies Pharmaco International, BLTC, Perfume Chemicals, and Therapeutics recorded whopping rises of 103.09 per cent, 91.29 per cent, 69.95 per cent and 65.80 per cent respectively.
Among other top gainers, Ambee Pharma, Dulamia Cotton, 1st BSRS, ICB, Samorita Hospital and Safko Spinning posted a rise of 102.90 points, 65.98 per cent, 59.72 per cent, 58.95 per cent, 58.04 per cent and 57.31 per cent respectively.
The Grameen Mutual Fund One was the top turnover leader with Tk 855.28 million traded, accounting for 5.96 per cent of the total market turnover.
Square Pharma, AB Bank, Beximco Pharma, Lafarge Surma Cement, Power Grid, ICB AMCL 1st NRB Mutual Fund, ACI Limited, Apex Adelchi and Atlas Bangladesh were the other turnover leaders of the week.