Stocks show upward trend on DSE
FE Report | Friday, 4 March 2011
FE Report
Dhaka stocks ended the week on positive mood Thursday despite low turnover amid roller-coaster trading throughout the session. The benchmark DSE General Index (DGEN), the main gauge of the DSE, ended at 5,428.40, rising by 2.57 per cent or 136.23 points. The broader DSE All Shares Price Index (DSI) went up 115.34 points or 2.63 per cent to 4,507.83. The DSE-20 including blue chips index rose 2.82 per cent or 101.09 points to 3,681.99. The market opened with a positive note, and the DGEN gained more than 50 points within five minutes of trading. And about 11.20am, it started to decline and lost more than 120 points. After that it hovered between positive and negative territories several times throughout the whole session before closing higher at the end. However, turnover stood at Tk 5.03 billion, down by 14.8 per cent compared to the previous session. Out of 253 issues traded, 205 advanced, 46 declined and two remained unchanged. Market analyst Salauddin Ahmed Khan said that the market's fluctuation on the day's trading session indicates investors' dilemma. "The investors got instant hope when they heard that the special fund was formed but they were hopeless when they heard that it would take more time," said Mr Khan who also teaches in the Finance Dept of Dhaka University. "Late hour participation of some institutional investors and some good news for the market pull up the market" he added. "Dhaka stocks ended positive largely backed by the special fund support of the SOEs and ICB. Consensus of brokers against the trigger sale and the active participation of state owned enterprises helped the DGEN close positive territory," said LankaBangla securities in its daily market commentary. Mainly banking, Textile and telecommunications shares pulled up the DGEN, the major index of Dhaka Stock Exchange (DSE). Among the 29 banks traded in the day 26 advanced and three declined. The sector also gained 2.82 per cent on the day. Grameenphone (GP), the DSE's most weighted share, soared by 5.33 per cent and closing price was Tk 152.10 per share. Among the notable gainers Textile gained per cent 6.40, IT gained 7.09 per cent, ceramics sector 5.50 per cent, mutual funds 4.18 per cent, cement 4.12 per cent, life insurer 3.12 per cent, general insurer 2.99 per cent, pharmaceuticals 2.73 per cent, fuel and power 2.14 per cent and NBFIs sector gained 0.18 per cent. However, total traded shares decreased to 56.27 million against 65.19 million in the previous trading session. The number of trade deals also decreased to 129,253 which were 134,730 on Wednesday. The total market capitalisation stood at Tk 2,506.93 billion against Tk 2, 448.84 billion in the previous session. Beximco Limited topped the turnover list with shares worth Tk 322.28 million changing hands. The other turnover leaders were Bay Leasing, Bextex Limited, Peoples Leasing, Beximco Pharma, Prime Finance, United Airways, Makson Spinning, Southeast Bank and Grameenphone. Asia Insurance was the top gainer posting a rise of 9.95 per cent. It was followed by Shinepukur Ceramics, RN Spinning, Malek Spinning, Deshbandhu Polymer, Makson Spinning, First Prime Mutual Fund, Sinobangla, Meghna Condensed Milk and BD Com. The day's top losers included International Leasing and Financial Limited, and Dhaka Bank, which lost 40.58 per cent and 30.21 per cent respectively following the adjustment of the corporate declaration. The other losers were Standard Ceramics, Ambee Pharma, Purabi General Insurance, Janata Insurance, Bay Leasing, Dhaka Insurance, Eastern Lubricant and Chittagong Vegetable.
Dhaka stocks ended the week on positive mood Thursday despite low turnover amid roller-coaster trading throughout the session. The benchmark DSE General Index (DGEN), the main gauge of the DSE, ended at 5,428.40, rising by 2.57 per cent or 136.23 points. The broader DSE All Shares Price Index (DSI) went up 115.34 points or 2.63 per cent to 4,507.83. The DSE-20 including blue chips index rose 2.82 per cent or 101.09 points to 3,681.99. The market opened with a positive note, and the DGEN gained more than 50 points within five minutes of trading. And about 11.20am, it started to decline and lost more than 120 points. After that it hovered between positive and negative territories several times throughout the whole session before closing higher at the end. However, turnover stood at Tk 5.03 billion, down by 14.8 per cent compared to the previous session. Out of 253 issues traded, 205 advanced, 46 declined and two remained unchanged. Market analyst Salauddin Ahmed Khan said that the market's fluctuation on the day's trading session indicates investors' dilemma. "The investors got instant hope when they heard that the special fund was formed but they were hopeless when they heard that it would take more time," said Mr Khan who also teaches in the Finance Dept of Dhaka University. "Late hour participation of some institutional investors and some good news for the market pull up the market" he added. "Dhaka stocks ended positive largely backed by the special fund support of the SOEs and ICB. Consensus of brokers against the trigger sale and the active participation of state owned enterprises helped the DGEN close positive territory," said LankaBangla securities in its daily market commentary. Mainly banking, Textile and telecommunications shares pulled up the DGEN, the major index of Dhaka Stock Exchange (DSE). Among the 29 banks traded in the day 26 advanced and three declined. The sector also gained 2.82 per cent on the day. Grameenphone (GP), the DSE's most weighted share, soared by 5.33 per cent and closing price was Tk 152.10 per share. Among the notable gainers Textile gained per cent 6.40, IT gained 7.09 per cent, ceramics sector 5.50 per cent, mutual funds 4.18 per cent, cement 4.12 per cent, life insurer 3.12 per cent, general insurer 2.99 per cent, pharmaceuticals 2.73 per cent, fuel and power 2.14 per cent and NBFIs sector gained 0.18 per cent. However, total traded shares decreased to 56.27 million against 65.19 million in the previous trading session. The number of trade deals also decreased to 129,253 which were 134,730 on Wednesday. The total market capitalisation stood at Tk 2,506.93 billion against Tk 2, 448.84 billion in the previous session. Beximco Limited topped the turnover list with shares worth Tk 322.28 million changing hands. The other turnover leaders were Bay Leasing, Bextex Limited, Peoples Leasing, Beximco Pharma, Prime Finance, United Airways, Makson Spinning, Southeast Bank and Grameenphone. Asia Insurance was the top gainer posting a rise of 9.95 per cent. It was followed by Shinepukur Ceramics, RN Spinning, Malek Spinning, Deshbandhu Polymer, Makson Spinning, First Prime Mutual Fund, Sinobangla, Meghna Condensed Milk and BD Com. The day's top losers included International Leasing and Financial Limited, and Dhaka Bank, which lost 40.58 per cent and 30.21 per cent respectively following the adjustment of the corporate declaration. The other losers were Standard Ceramics, Ambee Pharma, Purabi General Insurance, Janata Insurance, Bay Leasing, Dhaka Insurance, Eastern Lubricant and Chittagong Vegetable.