Strong buying support pushes up DSE stocks
Saturday, 7 July 2007
FE Report
The stock prices continued to rise last week amid a strong buying support from both institutional and retail investors.
All the Dhaka Stock Exchange (DSE) indices--DSE General Index (DGEN), DSE 20 and All Share Price Index (DSI)--gained by 49.41 points, 9.11 points and 41.96 points compared to those of the previous week to close at 2198.73, 1891.20 and 1806.14 points respectively.
The daily average turnover rose to Tk 1.820 billion (182 crore) in the week from Tk 1.693 billion of the previous week showing a 7.50 per cent rise.
There were four trading days in the week instead of five as the market remained closed Sunday due to bank holiday.
The total market capitalisation crossed the $ 7 billion-mark Monday last for the first time and closed at $ 7.03 billion or Tk 485.26 billion Thursday, the last trading day of the week.
Saiham Textile, a B-category company and Excelsior Shoes, a Z-category company, became the first and second top gainers in the week with 59.52 per cent and 49.28 per cent rises respectively.
Saiham and Excelsior shares closed at Tk 117.25 and Tk 25.75 each respectively Thursday.
Insurance companies, namely Popular Life Insurance, Progressive Life Insurance, Green Delta Insurance and Prime Islami Life Insurance, were among the top ten gainers with 27.57 per cent, 26.94 per cent, 23.82 per cent and 22.89 per cent rises respectively against those of the previous week.
Power Grid and EXIM Bank were the first and second turnover leaders with shares worth Tk 582.60 million and Tk 426.03 million traded accounting for 8.00 per cent and 5.85 per cent respectively of the total trading.
Shahjalal Islami Bank, BRAC Bank, Southeast Bank, Summit Power, DESCO, Premier Bank, Grameen Mutual Fund One and Prime Bank were the other top turnover leaders.
Out of 273 issues traded, 186 gained, 34 declined, 18 remained unchanged and 35 remained non-traded.
Meanwhile, Union Capital Ltd is going to be listed with the DSE by the end of this month.
The subscription of the company's public offer ended May 10 last.
Union Capital will be the 13th non-banking financial institution (NBFI) listed with the DSE.
The already listed NBFIs are IDLC, United Leasing, Uttara Finance, MIDAS Financing, First Lease International, People's Leasing, Prime Finance and Investment, Premier Leasing, Islamic Finance and Investment, LankaBangla Finance, Bangladesh Industrial Finance, and IPDC.
The stock prices continued to rise last week amid a strong buying support from both institutional and retail investors.
All the Dhaka Stock Exchange (DSE) indices--DSE General Index (DGEN), DSE 20 and All Share Price Index (DSI)--gained by 49.41 points, 9.11 points and 41.96 points compared to those of the previous week to close at 2198.73, 1891.20 and 1806.14 points respectively.
The daily average turnover rose to Tk 1.820 billion (182 crore) in the week from Tk 1.693 billion of the previous week showing a 7.50 per cent rise.
There were four trading days in the week instead of five as the market remained closed Sunday due to bank holiday.
The total market capitalisation crossed the $ 7 billion-mark Monday last for the first time and closed at $ 7.03 billion or Tk 485.26 billion Thursday, the last trading day of the week.
Saiham Textile, a B-category company and Excelsior Shoes, a Z-category company, became the first and second top gainers in the week with 59.52 per cent and 49.28 per cent rises respectively.
Saiham and Excelsior shares closed at Tk 117.25 and Tk 25.75 each respectively Thursday.
Insurance companies, namely Popular Life Insurance, Progressive Life Insurance, Green Delta Insurance and Prime Islami Life Insurance, were among the top ten gainers with 27.57 per cent, 26.94 per cent, 23.82 per cent and 22.89 per cent rises respectively against those of the previous week.
Power Grid and EXIM Bank were the first and second turnover leaders with shares worth Tk 582.60 million and Tk 426.03 million traded accounting for 8.00 per cent and 5.85 per cent respectively of the total trading.
Shahjalal Islami Bank, BRAC Bank, Southeast Bank, Summit Power, DESCO, Premier Bank, Grameen Mutual Fund One and Prime Bank were the other top turnover leaders.
Out of 273 issues traded, 186 gained, 34 declined, 18 remained unchanged and 35 remained non-traded.
Meanwhile, Union Capital Ltd is going to be listed with the DSE by the end of this month.
The subscription of the company's public offer ended May 10 last.
Union Capital will be the 13th non-banking financial institution (NBFI) listed with the DSE.
The already listed NBFIs are IDLC, United Leasing, Uttara Finance, MIDAS Financing, First Lease International, People's Leasing, Prime Finance and Investment, Premier Leasing, Islamic Finance and Investment, LankaBangla Finance, Bangladesh Industrial Finance, and IPDC.