Stock prices on DSE steady
Thursday, 31 March 2011
FE Report
Share prices on Dhaka Stock Exchange (DSE) remained steady with main index DGEN up by 27.68 points Wednesday amid a see-saw movement. The markets opened in a bullish mood with 50 points rise within five minutes of start of the trading. Soon after that DGEN began to shed points and at 11:30 am, it went into the negative territory. Then again it started to pick up and after several rounds of ups and down it finally closed 27.68 points higher to settle at 6249.35 points. Market insiders said, the investors sentiment was boosted mainly by the news that the Investment Corporation of Bangladesh (ICB), main sponsor of proposed Tk 50 billion Bangladesh Fund has sought permission for the fund. Market regulator Securities and Exchange Commission (SEC) has assured to give permission to the Bangladesh Fund on urgent basis. The market sentiment was also boosted by encouraging corporate declaration by four listed companies. Three companies of Summit Group and Exim Bank made their corporate declaration on the day. Among them, Summit Power recommended 30 per cent bonus, Ocean Containers Limited 25 per cent bonus and Summit Alliance Port recommended 25 per cash and 20 per cent bonus share. Exim Bank recommended 35 per cent bonus share. In condition of anonymity, a leading broker of DSE told FE that at present Bangladesh Fund remains the core issue for the capital market. As soon as the formalities completed for the floatation of the special fund, it will be better for the market. "Confusion will persist among the investors as long as the final approval for the Bangladesh Fund comes from the regulator" he added. Meanwhile, out of 259 issues traded on the day, 175 advanced, 75 declined and six remained unchanged. Companies with small paid up capital rose on the day. Among the gainers --life insurance rose 3.29 per cent, NBFIs 0.40 per cent, telecommunication 0.79 per cent, fuel and power 1.99 per cent, cement 1.13 per cent and tannery 0.79 per cent. Among the notable losers of the day---banking sector, the market's bellwether lost 0.77 per cent, mutual fund 0.27 per cent, general insurance 0.14 per cent, ceramics 0.50 per cent and IT sector lost 0.73 per cent. The broader DSE All Shares Price Index (DSI) gained 25.15 points or 0.48 per cent to 5190.62 points. Although the DSE-20 index including blue chips registered slight decrease of 10.59 points or 0.27 per cent to settle at 3,917.58. The daily turnover stood at Tk 7.49 billion, which was Tk 9.47 billion in the previous session. Beximco, PlFSL, Jamuna Oil, Titas Gas, BEXTEX, Golden Son, Summit Power, Desco Aftab Auto and Meghna Life were the top turnover leaders. The days top gainers list comprises of Summit Alliance Port, Kay & Que, Anlima Yarn, Ambee Pharma, imam button, Jamuna Oil, Meghna petroleum, Rahima food and National Polymer. A total of 54.92 million shares changed hands on the day against 76.26 million in the previous session. The trade deals also decreased to 151652 against 178,791 in the previous session. The market capitalization slightly increased to Tk 2812.07 billion against Tk 2,800.86 billion in the previous session. The top loser of the day was First Lease International losing 18.72 per cent following its record date for dividend entitlement. The other top losers of the day was Apex Spinning, Islamic Finance, EBL, Pubali Bank, 5th ICB, Al Arafa Bank, City Bank, Brac Bank and PLFSL
Share prices on Dhaka Stock Exchange (DSE) remained steady with main index DGEN up by 27.68 points Wednesday amid a see-saw movement. The markets opened in a bullish mood with 50 points rise within five minutes of start of the trading. Soon after that DGEN began to shed points and at 11:30 am, it went into the negative territory. Then again it started to pick up and after several rounds of ups and down it finally closed 27.68 points higher to settle at 6249.35 points. Market insiders said, the investors sentiment was boosted mainly by the news that the Investment Corporation of Bangladesh (ICB), main sponsor of proposed Tk 50 billion Bangladesh Fund has sought permission for the fund. Market regulator Securities and Exchange Commission (SEC) has assured to give permission to the Bangladesh Fund on urgent basis. The market sentiment was also boosted by encouraging corporate declaration by four listed companies. Three companies of Summit Group and Exim Bank made their corporate declaration on the day. Among them, Summit Power recommended 30 per cent bonus, Ocean Containers Limited 25 per cent bonus and Summit Alliance Port recommended 25 per cash and 20 per cent bonus share. Exim Bank recommended 35 per cent bonus share. In condition of anonymity, a leading broker of DSE told FE that at present Bangladesh Fund remains the core issue for the capital market. As soon as the formalities completed for the floatation of the special fund, it will be better for the market. "Confusion will persist among the investors as long as the final approval for the Bangladesh Fund comes from the regulator" he added. Meanwhile, out of 259 issues traded on the day, 175 advanced, 75 declined and six remained unchanged. Companies with small paid up capital rose on the day. Among the gainers --life insurance rose 3.29 per cent, NBFIs 0.40 per cent, telecommunication 0.79 per cent, fuel and power 1.99 per cent, cement 1.13 per cent and tannery 0.79 per cent. Among the notable losers of the day---banking sector, the market's bellwether lost 0.77 per cent, mutual fund 0.27 per cent, general insurance 0.14 per cent, ceramics 0.50 per cent and IT sector lost 0.73 per cent. The broader DSE All Shares Price Index (DSI) gained 25.15 points or 0.48 per cent to 5190.62 points. Although the DSE-20 index including blue chips registered slight decrease of 10.59 points or 0.27 per cent to settle at 3,917.58. The daily turnover stood at Tk 7.49 billion, which was Tk 9.47 billion in the previous session. Beximco, PlFSL, Jamuna Oil, Titas Gas, BEXTEX, Golden Son, Summit Power, Desco Aftab Auto and Meghna Life were the top turnover leaders. The days top gainers list comprises of Summit Alliance Port, Kay & Que, Anlima Yarn, Ambee Pharma, imam button, Jamuna Oil, Meghna petroleum, Rahima food and National Polymer. A total of 54.92 million shares changed hands on the day against 76.26 million in the previous session. The trade deals also decreased to 151652 against 178,791 in the previous session. The market capitalization slightly increased to Tk 2812.07 billion against Tk 2,800.86 billion in the previous session. The top loser of the day was First Lease International losing 18.72 per cent following its record date for dividend entitlement. The other top losers of the day was Apex Spinning, Islamic Finance, EBL, Pubali Bank, 5th ICB, Al Arafa Bank, City Bank, Brac Bank and PLFSL