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Space For Rent
Sunday, October 19, 2014, Kartik 4, 1421, Zilhajj 23, 1435 Hijr


Stock Market Review
Bourses continued to gain for the sixth consecutive week
Business Desk
Publish Date : 2014-10-19,  Publish Time : 00:00,  View Count : 11
Stocks gained marginally last week that ended on Thursday extending the gaining streak for the sixth consecutive week with higher turnover as investors picked up blue chips and prospective shares, dealers said.
The week that started following a nine-day festival vacation, had the usual five session, with two rising sharply while the others ended with marginal correction.
At the Dhaka Stock Exchange (DSE), the prime index DESX rose 48.12  points or 0.92 per cent to close the week at 5,285.84 points, against the previous week. At the principal bourser the DSE30 index gained 4.63 points or 0.23 per cent to close at 1,997.79 and the Shariah index DSES  rose 23.21 points or 1.90 per cent to close at 1,242.46 points.
At Chittagong Stock Exchange (CSE) the  Selective Categories Index, CSCX  rose by 130.4 points or 1.33 per cent to close at 9,911.93 points.
The transaction was vibrant at the DSE throughout the week and turnover totalled Tk 48.10 billion, up from Tk 47.97 billion in the previous week.
The daily turnover for the week averaged Tk 9.62 billion, up  0.26 per cent from the previous week when the average stood at Tk 9.59 billion.
During the week buyers picked up fuel and power and pharmaceuticals stocks, that accounted for 19 per cent and 14 per cent respectively of the week's total turnover.
"Dynamic trading pattern, mostly focused on re-balancing portfolio kept market movement positive, the first week after prolonged Eid vacation," IDLC Investments said in its weekly analysis.
Expectations of quarterly earnings declaration and selected June-ending stocks from the fuel and power sector drew some wise participants into the market, said the merchant bank. LankaBangla Securities said, "The benchmark index consolidated around 5,300-level in the following four trading sessions of the week."
Consumers in Bangladesh largely have an optimistic economic outlook, despite continued uncertainty in the global economy, according to the MasterCard Worldwide Index of Consumer Confidence.
The major sectors showed mixed performance last week. Food and allied posted the highest loss among the large cap sectors with 1.43 per cent decline. Telecommunication and NBFIs also retraced by 0.65 per cent and 0.62 per cent respectively.
Pharmaceuticals and power posted impressive yields of 4.35 per cent and 4.12 per cent respectively. Banks went up by 1.60 per cent Gainers outpaced losers as out of 312 issues traded, 199 advanced, 107 declined 6 remained unchanged on DSE floor during the week.
Two listed companies - Dhaka Electric Supply Company (DESCO) and Al-Haj Textile declared corporate declaration last week. DESCO declared 5 per cent cash and 10 per cent stock while Al-Haj Textile recommended 20 per cent stock dividend.
The market capitalisation of the DSE went up slightly by 0.81 per cent as it was Tk 3,439.59 billion on the opening day of the week and it stood at Tk 3,467.46 billion on closing day of the week.
Square Pharmaceuticals dominated the week's top turnover chart with shares worth Tk 2.12 billion changing hands followed by MJL BD, GP, Titas Gas and Delta Life Insurance. DESCO was the week's top gainer, posting a rise of 21.82 per cent following its dividend declaration while Fu-Wang Food was the week's worst loser, slumping by 14.23 per cent.





Editor : Iqbal Sobhan Chowdhury
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