Dhaka, Bangladesh (BBN) – Dhaka stocks gained slightly last week confronting the consecutive gains over the last six weeks with improving turnover value, market operators said.
“Eventually, the investors were getting exhausted in particular stocks or sectors, as they exhibited significant gain over the last six weeks,” commented LankaBangla Securities in its weekly analysis.
The week witnessed five trading sessions as usual. Among those, two sessions gained almost 205 points while three sessions lost 182 points.
In the week, the DSE General Index (DGEN) went up by 23.92 points or 0.45 percent to close at 5,367.52. In last six weeks, the DGEN gained around 1,022 points or 24 per cent.
The broader All Shares Price Index (DSI) surged 26.05 points or 0.58 per cent to close at 4,501.24. However, the DSE-20 Index comprising blue-chip shares lost 3.94 points or 0.10 per cent to close at 3,920.98.
Moreover, the investors were rebalancing their portfolio. During the week, market gauge, DGEN, recorded only 23.92 points gain than that of previous week, it added.
Two new companies – Padma Life Insurance and GPH Ispat – made debut at the DSE Wednesday and Thursday respectively.
Share price of Padma Life Insurance closed at BDT 154.20 from its offer price of BDT 10 on Thursday while GPH Ispat closed at BDT 72.90 from its offer price of BDT 30.
The total turnover value for the week stood at BDT 51.07 billion against BDT 42.27 billion in the previous week.
The average daily turnover value was BDT 10.21 billion last week which was 20.80 percent higher compared to BDT 8.45 billion in the previous week.
The highest turnover value of BDT 12.01 billion was recorded Sunday which was more than eight months’ high, while the lowest value of BDT 7.79 billion was recorded Thursday.
Out of the 276 issues traded during the week, 89 advanced, 174 declined, and 13 remained unchanged.
Companies continued to disclose their corporate declarations for the year 2011.
The market capitalization of the DSE also advanced slightly by 0.64 percent in the week, as it was BDT 2,734.64 billion on the opening day of the week, and at the end of the week it stood at BDT 2,752.26 billion.
Non-banking financial institutions (NBFIs) gained 10.72 percent and emerged as the highest gainer among all the sectors last week, with three NBFIs – ICB, Islamic Finance and Investment and IPDC – featured in the top 10 gainers list.
Among the other major sectors, banks and pharmaceuticals gained 1.97 percent 0.87 percent respectively while fuel and power lost sharply by 5.53 percent followed by telecommunications 1.25 percent.
Grameenphone (GP) continued to top the week’s turnover chart with shares worth BDT 2.21 billion changed hands.
The other turnover leaders were Meghna Petroleum, Jamuna Oil, Beximco Limited, Titas Gas, Lafarge Surma Cement, Beximco Pharma, LankaBangla Finance, MI Cement and Aftab Automobiles.
ICB was the week’s top gainer, posting a rise of 27.33 percent followed by Islamic Finance, IFIC Bank, National Tubes, IPDC, AB Bank, Midas Financing, Beximco Pharma, Grameen Mutual Fund One and Stylecraft.
The week’s worst losers included Keya Cosmetics, Eastland Insurance, Karnaphuli Insurance, Power Grid, DBH, City General Insurance, Kay and Que, Northern Jute, Rupali Insurance and Prime Islami Life Insurance.
BBN/SSR/AD-21Apr12-10:40 am (BST)