FE Report
Dhaka stocks continued to witness a bearish trend amid liquidity crisis in the lack-lustre trading.
The investors also demonstrated against the continuous fall in the market during the week in front of the Dhaka Stock Exchange (DSE) building.
However, Bangladesh Bank decision of extending the time limit for adjusting single borrower limit helped the market to regain some points, otherwise the fall would have been much bigger, dealers said.
During the week, among the five trading sessions, two sessions gained moderately while three lost massively.
Overall, the benchmark index DGEN, the yardstick of the DSE shed 320.46 points or 5.60 per cent to close at 5,397.62.
The broader DSE All Shares Price Index (DSI) ended at 4,496.91 went down by 204.76 points or 5.56 per cent. The DSE-20 index including blue chips also lost 159.55 points or 4.26 per cent to 3,584.70.
Amid lesser participation from the institutional investor's turnover value also remained in the lower level. Total turnover value stood at only Tk 17.55 billion in the five trading sessions.
Average daily turnover declined substantially and stood at Tk 3.51 billion against Tk 5.1 billion in the previous week, which was 31.63 per cent lower.
The market capitalization was Tk 2,656.32 billion in the opening day of the week and at the end of the week, it stood at Tk 2,556.10 billion, which was 3.77 per cent lower.
Out of 261 issues traded, only 15 advanced and 246 declined.
All the sectors retraced in the week with general insurance sector was the week's biggest loser and lost 7.27 per cent while turnover of the sector decreased 35.84 per cent.
Bank, NBFIs and Fuel and Power sector lost 6.43 per cent, 5.90 per cent and 5.02 per cent respectively during the week.
Among other notable losers mutual fund lost 4.74 per cent, pharmaceuticals 3.94 per cent and life insurance lost 4.69 per cent during the week.
Three new issues made debut during the week at the DSE -- M I Cement Factory Limited commenced trading Sunday while EBL NRB Mutual Fund and Southeast Bank First Mutual Fund commenced trading on Monday.
The amalgamation process of Keya Cosmetics and Keya Detergent also took place in this week.
MI Cement Factory Limited, which made debut Sunday topped the turnover list with shares worth Tk 639.41 million changed hands during the week.
The other turnover leaders were Titas Gas, Beximco Limited, Aftab Automobiles, Peoples Leasing, Bextex Limited, United Airways, BSRM Steels Limited, Square Pharma and RN Spinning.
Northern General Insurance Company Ltd was the highest gainer posting 1.81 per cent. It was followed by Kohinoor Chemicals, IBBLPBOND, Square Textile, Global Insurance, Fifth ICB Mutual Fund, Bata Shoe, Seventh ICB Mutual Fund, Sub 25 per cent Convertible Bonds of Brac Bank Ltd and Second ICB Mutual Fund.
IFIC Bank was the week's top loser followed by Islami Insurance BD Limited, AB Bank, Purabi General Insurance, Sonarbangla Insurance, Meghna Cement, Barakatullah Electro Dynamics Ltd, Beacon Pharma, Prime Finance First Mutual Fund and Dhaka Insurance.
On Sunday, Dhaka stocks started the week with losing 206 points or 3.60 per cent as frustrated investors went for heavy sell-offs following the news of government proposal of introducing mandatory ID card for investors and installation of CCTV (closed-circuit television) cameras at DSE premises and its adjacent areas while turnover declined to Tk 4.40 billion.
On Monday, the market shed another 135 points or 2.46 per cent as investors remained worried over rumors about imposition of tax on capital gain in the upcoming budget and mandatory introduction of TIN (Taxpayers' Identification Number) in case of opening BO accounts while turnover dropped to Tk 3.44 billion.
On Tuesday, the market gained moderate 68 points or 1.26 per cent after four consecutive sessions of losses as institutional buyers remained active on available attractive prices of shares while turnover stood at Tk 3.49 billion.
On Wednesday, the market went to negative note again with major index DGEN slumped 151.74 points or 2.78 per cent which prompted investors took to the street and demonstrated in front of the DSE.
A group of investors under the banner of 'Sharebazar Oikya Parishad' demonstrated in front of the DSE building against the continuous share fall on the day.
They also chanted slogan against the finance minister, Bangladesh Bank governor and president of the two bourses and demanded resignation of them.
Traffic movement from Shapla Square to Ittefaq Crossing was also halted for an hour because of demonstration.
On Thursday, the last trading session of the week, the market bounced back and gained 105 points or 1.99 per cent. However, turnover hitting four-month low since January 25 and stood at only Tk 2.96 billion.
Meanwhile, a group of investors observed sit-in programme in front of the DSE main building demanding intervention of Prime Minister to stabilise the market Thursday.
They also placed 15-point charter of demands to the Securities and Exchange Commission (SEC) Thursday including suspension of trading on the two stock exchanges until formulation of a specific policy and demanded incentive packages in the upcoming budget.
Only one company announced corporate declaration during the week --Meghna Cement recommended 25 per cent stock dividend for the year that ended December 31, 2010.
Dhaka stocks continued to witness a bearish trend amid liquidity crisis in the lack-lustre trading.
The investors also demonstrated against the continuous fall in the market during the week in front of the Dhaka Stock Exchange (DSE) building.
However, Bangladesh Bank decision of extending the time limit for adjusting single borrower limit helped the market to regain some points, otherwise the fall would have been much bigger, dealers said.
During the week, among the five trading sessions, two sessions gained moderately while three lost massively.
Overall, the benchmark index DGEN, the yardstick of the DSE shed 320.46 points or 5.60 per cent to close at 5,397.62.
The broader DSE All Shares Price Index (DSI) ended at 4,496.91 went down by 204.76 points or 5.56 per cent. The DSE-20 index including blue chips also lost 159.55 points or 4.26 per cent to 3,584.70.
Amid lesser participation from the institutional investor's turnover value also remained in the lower level. Total turnover value stood at only Tk 17.55 billion in the five trading sessions.
Average daily turnover declined substantially and stood at Tk 3.51 billion against Tk 5.1 billion in the previous week, which was 31.63 per cent lower.
The market capitalization was Tk 2,656.32 billion in the opening day of the week and at the end of the week, it stood at Tk 2,556.10 billion, which was 3.77 per cent lower.
Out of 261 issues traded, only 15 advanced and 246 declined.
All the sectors retraced in the week with general insurance sector was the week's biggest loser and lost 7.27 per cent while turnover of the sector decreased 35.84 per cent.
Bank, NBFIs and Fuel and Power sector lost 6.43 per cent, 5.90 per cent and 5.02 per cent respectively during the week.
Among other notable losers mutual fund lost 4.74 per cent, pharmaceuticals 3.94 per cent and life insurance lost 4.69 per cent during the week.
Three new issues made debut during the week at the DSE -- M I Cement Factory Limited commenced trading Sunday while EBL NRB Mutual Fund and Southeast Bank First Mutual Fund commenced trading on Monday.
The amalgamation process of Keya Cosmetics and Keya Detergent also took place in this week.
MI Cement Factory Limited, which made debut Sunday topped the turnover list with shares worth Tk 639.41 million changed hands during the week.
The other turnover leaders were Titas Gas, Beximco Limited, Aftab Automobiles, Peoples Leasing, Bextex Limited, United Airways, BSRM Steels Limited, Square Pharma and RN Spinning.
Northern General Insurance Company Ltd was the highest gainer posting 1.81 per cent. It was followed by Kohinoor Chemicals, IBBLPBOND, Square Textile, Global Insurance, Fifth ICB Mutual Fund, Bata Shoe, Seventh ICB Mutual Fund, Sub 25 per cent Convertible Bonds of Brac Bank Ltd and Second ICB Mutual Fund.
IFIC Bank was the week's top loser followed by Islami Insurance BD Limited, AB Bank, Purabi General Insurance, Sonarbangla Insurance, Meghna Cement, Barakatullah Electro Dynamics Ltd, Beacon Pharma, Prime Finance First Mutual Fund and Dhaka Insurance.
On Sunday, Dhaka stocks started the week with losing 206 points or 3.60 per cent as frustrated investors went for heavy sell-offs following the news of government proposal of introducing mandatory ID card for investors and installation of CCTV (closed-circuit television) cameras at DSE premises and its adjacent areas while turnover declined to Tk 4.40 billion.
On Monday, the market shed another 135 points or 2.46 per cent as investors remained worried over rumors about imposition of tax on capital gain in the upcoming budget and mandatory introduction of TIN (Taxpayers' Identification Number) in case of opening BO accounts while turnover dropped to Tk 3.44 billion.
On Tuesday, the market gained moderate 68 points or 1.26 per cent after four consecutive sessions of losses as institutional buyers remained active on available attractive prices of shares while turnover stood at Tk 3.49 billion.
On Wednesday, the market went to negative note again with major index DGEN slumped 151.74 points or 2.78 per cent which prompted investors took to the street and demonstrated in front of the DSE.
A group of investors under the banner of 'Sharebazar Oikya Parishad' demonstrated in front of the DSE building against the continuous share fall on the day.
They also chanted slogan against the finance minister, Bangladesh Bank governor and president of the two bourses and demanded resignation of them.
Traffic movement from Shapla Square to Ittefaq Crossing was also halted for an hour because of demonstration.
On Thursday, the last trading session of the week, the market bounced back and gained 105 points or 1.99 per cent. However, turnover hitting four-month low since January 25 and stood at only Tk 2.96 billion.
Meanwhile, a group of investors observed sit-in programme in front of the DSE main building demanding intervention of Prime Minister to stabilise the market Thursday.
They also placed 15-point charter of demands to the Securities and Exchange Commission (SEC) Thursday including suspension of trading on the two stock exchanges until formulation of a specific policy and demanded incentive packages in the upcoming budget.
Only one company announced corporate declaration during the week --Meghna Cement recommended 25 per cent stock dividend for the year that ended December 31, 2010.
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