Stocks rise amid see-saw
Wednesday, 13 April 2011
FE Report
Dhaka stocks witnessed see-saw in the trading session Tuesday with all indices gained more than two per cent despite low turnover amid cautious mood prevailed among the general investors. Dhaka Stock Exchange main index DGEN gained 160.53 points or 2.56 per cent to peg at 6423.22 points although the daily turnover dipped significantly on the day. In value terms, the daily turnover of DSE stood at Tk 7.92 billion, which was Tk 12.24 billion in the previous session. Market analyst Salahuddin Ahmed Khan Said, in the last two or three trading session the market experienced heavy fluctuation as some quarter is trying to destabilize the market. This certain quarter may not be happy with the recently published share scam report. Praising the published report on share scam, former chief executive officer (CEO) of DSE Salahuddin Ahmed Khan said, the committee has covered major part of the recent share scam in span of short period of time, which is very commendable. But if the general investors don't get panicked the intentions of the vested quarter will not be implemented, he added. A high official of a leading merchant bank said, the trading pattern is hard to understand now days. But whatever is driving the market, everything is related with submitted scam report on share market. Meanwhile the market opened in a bearish mood and at one point DGEN lost almost 100 points. After several rounds of ups and down the DGEN finally closes up by 160.53 points. The broader All Shares Price Index (DSI) rose 130.86 points or 2.52 per cent to close at 5331.69. The DSE-20 index comprising blue-chip shares went up by 86.07 points or 2.22 per cent to 3960.83. A total of 61.35 million shares changed hands on the day against 107.62 million in the previous session. The trade deals also decreased to 169,780 against 238,264 in the previous session. Market capitalization slightly increased to Tk 2,876.20 billion against Tk 2,818.30 billion in the previous session. Share prices of all the sectors gained across the board on the day. Banking issues, which make up more than one-third of the market capitalization gained 1.66 per cent on the day. As out of 29 banks traded all the banks gained with DBBL at the helm. DBBL share price increased Tk 34.25 per share and closed at Tk 1,449.5. Grameenphone (GP), the most weighted shares in DSE and the lone listed company in telecommunications sector, advanced Tk 2.10 per share and closed at Tk 168.8, after two session of loss. The sector advanced 1.44 per cent. In the financial sector 20 issues traded, all issues gained on the day with Midas Finance leading the sector as its share price rose Tk 85.25 per share and closed at Tk 1,430.75. Overall the NBFIs sector gained 2.51 per cent. In the fuel and power sector 10 issues traded, all issues advanced with DESCO was the leading and the company's share price rose Tk 84.75 per share and closed at Tk 2,035. The sector also gained 2.61 per cent. The textile sector gained 5.25 per cent and in the sector 24 issues traded, 23 issues gained and only stylecraft was the sole loser in the sector. The company lost Tk 224 per share on the day and closed at Tk 6,362.75. In the pharmaceuticals sector 20 issues traded, 18 issues gained on the day. The sector also gained 2.05 per cent. In the Insurance sector 43 issues traded, 40 issues advanced while three issues declined while general insurance and life insurance gained 4.19 per cent and 2.99 per cent on the day. Among others gainers---ceramics sector gained 8.38 per cent, mutual fund sector 1.2 per cent, cement 2.31 per cent and jute 2.47 per sent gained on the day. Beximco Limited continued topped the turnover list with shares worth Tk 367.30 million changing hands. The other turnover leaders were Aftab Automobiles, Titas Gas, RAK Ceramics, Bextex Limited, Peoples Leasing, Fu-Wang Ceramics, DESCO, Bay Leasing and Premier Leasing. CMC Kamal was the day's highest gainer posting 9.98 per cent rise. It was followed by RAK Ceramics, Sinobangla Industries, ACI, GQ Ball Pen, Kay & Que, Beach Hatchery, Immam Button, Quasem Drycell, and Anlima Yarn. Kohinoor Chemicals was the day's top loser, followed by Second ICB, MBL First Mutual Fund, Peoples Leasing, Stylecraft, AIBL First Mutual Fund, ICB First NRB, Fifth ICB, BD Lamps and Renata. Meanwhile, as per the Monday's decision, a group of investors tried to form a human chain in front of the DSE office. But their attempt was foiled as police intervened.
Dhaka stocks witnessed see-saw in the trading session Tuesday with all indices gained more than two per cent despite low turnover amid cautious mood prevailed among the general investors. Dhaka Stock Exchange main index DGEN gained 160.53 points or 2.56 per cent to peg at 6423.22 points although the daily turnover dipped significantly on the day. In value terms, the daily turnover of DSE stood at Tk 7.92 billion, which was Tk 12.24 billion in the previous session. Market analyst Salahuddin Ahmed Khan Said, in the last two or three trading session the market experienced heavy fluctuation as some quarter is trying to destabilize the market. This certain quarter may not be happy with the recently published share scam report. Praising the published report on share scam, former chief executive officer (CEO) of DSE Salahuddin Ahmed Khan said, the committee has covered major part of the recent share scam in span of short period of time, which is very commendable. But if the general investors don't get panicked the intentions of the vested quarter will not be implemented, he added. A high official of a leading merchant bank said, the trading pattern is hard to understand now days. But whatever is driving the market, everything is related with submitted scam report on share market. Meanwhile the market opened in a bearish mood and at one point DGEN lost almost 100 points. After several rounds of ups and down the DGEN finally closes up by 160.53 points. The broader All Shares Price Index (DSI) rose 130.86 points or 2.52 per cent to close at 5331.69. The DSE-20 index comprising blue-chip shares went up by 86.07 points or 2.22 per cent to 3960.83. A total of 61.35 million shares changed hands on the day against 107.62 million in the previous session. The trade deals also decreased to 169,780 against 238,264 in the previous session. Market capitalization slightly increased to Tk 2,876.20 billion against Tk 2,818.30 billion in the previous session. Share prices of all the sectors gained across the board on the day. Banking issues, which make up more than one-third of the market capitalization gained 1.66 per cent on the day. As out of 29 banks traded all the banks gained with DBBL at the helm. DBBL share price increased Tk 34.25 per share and closed at Tk 1,449.5. Grameenphone (GP), the most weighted shares in DSE and the lone listed company in telecommunications sector, advanced Tk 2.10 per share and closed at Tk 168.8, after two session of loss. The sector advanced 1.44 per cent. In the financial sector 20 issues traded, all issues gained on the day with Midas Finance leading the sector as its share price rose Tk 85.25 per share and closed at Tk 1,430.75. Overall the NBFIs sector gained 2.51 per cent. In the fuel and power sector 10 issues traded, all issues advanced with DESCO was the leading and the company's share price rose Tk 84.75 per share and closed at Tk 2,035. The sector also gained 2.61 per cent. The textile sector gained 5.25 per cent and in the sector 24 issues traded, 23 issues gained and only stylecraft was the sole loser in the sector. The company lost Tk 224 per share on the day and closed at Tk 6,362.75. In the pharmaceuticals sector 20 issues traded, 18 issues gained on the day. The sector also gained 2.05 per cent. In the Insurance sector 43 issues traded, 40 issues advanced while three issues declined while general insurance and life insurance gained 4.19 per cent and 2.99 per cent on the day. Among others gainers---ceramics sector gained 8.38 per cent, mutual fund sector 1.2 per cent, cement 2.31 per cent and jute 2.47 per sent gained on the day. Beximco Limited continued topped the turnover list with shares worth Tk 367.30 million changing hands. The other turnover leaders were Aftab Automobiles, Titas Gas, RAK Ceramics, Bextex Limited, Peoples Leasing, Fu-Wang Ceramics, DESCO, Bay Leasing and Premier Leasing. CMC Kamal was the day's highest gainer posting 9.98 per cent rise. It was followed by RAK Ceramics, Sinobangla Industries, ACI, GQ Ball Pen, Kay & Que, Beach Hatchery, Immam Button, Quasem Drycell, and Anlima Yarn. Kohinoor Chemicals was the day's top loser, followed by Second ICB, MBL First Mutual Fund, Peoples Leasing, Stylecraft, AIBL First Mutual Fund, ICB First NRB, Fifth ICB, BD Lamps and Renata. Meanwhile, as per the Monday's decision, a group of investors tried to form a human chain in front of the DSE office. But their attempt was foiled as police intervened.