FE Report
Dhaka stocks ended the week on a high note Thursday, as the main index DGEN gained 94.02 points following heavy buying in most of the sectors.
Market insiders said, investors' confidence was mainly boosted following the media report that government will allow whitening the black money only through the investment in the stock market for a certain period of time.
"The expectation of positive outcome from the meeting of two watchdogs also boosted investors' confidence very much," said a top merchant bank official.
Bangladesh Bank and the Securities and Exchange Commission (SEC) held a meeting Thursday to find out possible ways and means to increase liquidity flow in the capital market.
Though the market opened with a negative note, it came to positive zone within 30 minutes and the upbeat mood continued throughout the session amid moderate ups and down and finally closed 94 points higher.
The benchmark DSE General Index (DGEN), the yardstick of the market rose 94.02 points or 1.65 per cent to close at 5,762.70.
The broader All Shares Price Index (DSI) went up by 75.54 points or 1.59 per cent and close to 4,799.21. The DSE-20 index comprising blue-chip shares also rose 46.99 points or 1.24 per cent to 3,799.67.
Yawer Sayeed, managing director and CEO of AIMS of Bangladesh said that the market behaviour is good and it is a healthy sign of stable market.
"The investors' confidence is growing gradually and it will take time to restore full confidence as the market is overcoming from a crash," said Mr Sayeed.
However, he said "We have to wait until the national budget is announced whether the market is fully stable or not."
The finance minister AMA Muhith is scheduled to announce FY-2011-2012 national budget on June 9.
"If the government makes a capital market-friendly budget and do not impose any new taxes or conditions, the market will be stable in near future," he added.
A total of 53.35 million shares changed hands on the day against 50.90 million in the previous session. The trade deals increased slightly to 129,942 against Wednesday's 128,503.
Total market capitalization of the DSE also increased slightly to Tk 2,686.31 billon against Tk 2,652.66 billion in the previous session.
Turnover increased to Tk 5.07 billion in value terms, up by per cent, from Tk 4.61 billion in the previous session.
The gainers took strong lead over the losers as out of 259 issues traded, 227 advanced, only 24 declined and eight remained unchanged.
All sectors except Paper & printing gained on the day, paper and printing lost 0.67 per cent.
Banking issues, which make up more than one-third of the market capitalization, gained 1.50 per cent.
Grameenphone, the most weighted shares in the DSE, gained 1.17 per cent on the day.
Among the notable gainers---NBFIs 3.68 per cent, pharmaceuticals 0.69 per cent, cement 1.24 per cent general insurance 2.20 per cent, life insurance 0.55 per cent, fuel and power 0.72 per cent, textile 1.71 per cent and mutual fund 0.60 per cent.
LankaBangla Finance topped the turnover list with shares worth Tk 255.20 million changed hands.
Other turnover leaders were United Airways, UCBL, BSRM Steels, MI Cement, Peoples Leasing, Titas Gas, First Lease Finance and Investment Ltd, RN Spinning and Eastern Housing Limited.
Salvo Chemicals was the day's highest gainer posting 9.91 per cent rise.
It was followed by LankaBangla Finance, FAS Finance & Investment Limited,Islamic Finance & Investment Ltd, Eastern Housing Limited, First Lease Finance and Investment Ltd, Eastern Lubricant, Phoenix Finance and BIFC.
Dhaka stocks ended the week on a high note Thursday, as the main index DGEN gained 94.02 points following heavy buying in most of the sectors.
Market insiders said, investors' confidence was mainly boosted following the media report that government will allow whitening the black money only through the investment in the stock market for a certain period of time.
"The expectation of positive outcome from the meeting of two watchdogs also boosted investors' confidence very much," said a top merchant bank official.
Bangladesh Bank and the Securities and Exchange Commission (SEC) held a meeting Thursday to find out possible ways and means to increase liquidity flow in the capital market.
Though the market opened with a negative note, it came to positive zone within 30 minutes and the upbeat mood continued throughout the session amid moderate ups and down and finally closed 94 points higher.
The benchmark DSE General Index (DGEN), the yardstick of the market rose 94.02 points or 1.65 per cent to close at 5,762.70.
The broader All Shares Price Index (DSI) went up by 75.54 points or 1.59 per cent and close to 4,799.21. The DSE-20 index comprising blue-chip shares also rose 46.99 points or 1.24 per cent to 3,799.67.
Yawer Sayeed, managing director and CEO of AIMS of Bangladesh said that the market behaviour is good and it is a healthy sign of stable market.
"The investors' confidence is growing gradually and it will take time to restore full confidence as the market is overcoming from a crash," said Mr Sayeed.
However, he said "We have to wait until the national budget is announced whether the market is fully stable or not."
The finance minister AMA Muhith is scheduled to announce FY-2011-2012 national budget on June 9.
"If the government makes a capital market-friendly budget and do not impose any new taxes or conditions, the market will be stable in near future," he added.
A total of 53.35 million shares changed hands on the day against 50.90 million in the previous session. The trade deals increased slightly to 129,942 against Wednesday's 128,503.
Total market capitalization of the DSE also increased slightly to Tk 2,686.31 billon against Tk 2,652.66 billion in the previous session.
Turnover increased to Tk 5.07 billion in value terms, up by per cent, from Tk 4.61 billion in the previous session.
The gainers took strong lead over the losers as out of 259 issues traded, 227 advanced, only 24 declined and eight remained unchanged.
All sectors except Paper & printing gained on the day, paper and printing lost 0.67 per cent.
Banking issues, which make up more than one-third of the market capitalization, gained 1.50 per cent.
Grameenphone, the most weighted shares in the DSE, gained 1.17 per cent on the day.
Among the notable gainers---NBFIs 3.68 per cent, pharmaceuticals 0.69 per cent, cement 1.24 per cent general insurance 2.20 per cent, life insurance 0.55 per cent, fuel and power 0.72 per cent, textile 1.71 per cent and mutual fund 0.60 per cent.
LankaBangla Finance topped the turnover list with shares worth Tk 255.20 million changed hands.
Other turnover leaders were United Airways, UCBL, BSRM Steels, MI Cement, Peoples Leasing, Titas Gas, First Lease Finance and Investment Ltd, RN Spinning and Eastern Housing Limited.
Salvo Chemicals was the day's highest gainer posting 9.91 per cent rise.
It was followed by LankaBangla Finance, FAS Finance & Investment Limited,Islamic Finance & Investment Ltd, Eastern Housing Limited, First Lease Finance and Investment Ltd, Eastern Lubricant, Phoenix Finance and BIFC.
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