Healthy turnover marks third gaining week of stocks

February 17, 2013

DSE Weekly Review
Healthy turnover marks third gaining week of stocks
Dhaka stocks continued to gain for the third week last week amid healthy turnover as participation of retail investors increased thanks to the market’s gradual uptrend.
DSEX, the newly launched benchmark index of Dhaka Stock Exchange, gained 2.51 per cent or 105.38 points, to close at 4,304.97 points.
The blue-chip index of the bourse, DS30, gained 1.80 per cent or 27.43 points in the last week to close at 1,551.97 points.
The DSEX had gained 168.58 points in the last two weeks while DS30 advanced by 63.41 points.
DGEN, the previous benchmark index of the DSE, gained 1.82 per cent or 78.65 points, to close at 4,318.19 points.
Average daily turnover of the bourse increased by 52.22 per cent in the last week to Tk 466.32 crore compared with that of Tk 306.35 crore in the week before.
Market operators said increased participation of institutional investors in the last few weeks made many retail investors optimistic about the market.
The rise in turnover drew many retail investors to the trading floor as the institutional investors became active after the central bank last month had eased the monetary policy, they added.
‘Although there is a constant fear of intense political unrest due to the ongoing violence on the political front, it seems that the market would remain positive in the near future,’ said a stockbroker.
He said there is a chance that the rise in turnover was mainly due to the primary market investors selling initial public offering shares.
‘But, with the last week’s rise it seems that people are injecting fresh funds,’ he said.
Among the top 10 companies on the turnover chart for the week, four were from N category, which means they were newly listed shares.
All the major sectors gained in the week except telecommunications, which lost 0.97 per cent, as Grameenphone’s net profit slumped in 2012.
The fuel and power sector continued to post the highest gain with 2.78 per cent rise last week, followed by non-bank financial institutions that gained 2.64 per cent.
Pharmaceuticals gained 1.82 per cent and bank gained 0.79 per cent in the week.
Among the 285 issues traded last week, 215 advanced, 55 declined and 15 remained unchanged.
United Airways topped the turnover chart with shares worth Tk 186 crore changing hands.
The other turnover leaders were Summit Purbanchol Power Company, RN Spinning, Unique Hotel, Beximco, Generation Next Fashion, Envoy Textile, Sunlife Insurance, Saiham Cotton Mills and Bangladesh Shipping Corporation.

-With New Age input

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