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Dhaka Stock Exchange (DSE) turnover nearly doubles last week PDF Print E-mail
Monday, 11 February 2008

Staff Correspondent

Turnover at the Dhaka Stock Exchange (DSE) nearly doubled last week with 93.83 per cent rise to total at Tk 1,425 crore from the previous weeks Tk 735 crore as investors returned to the trading floor heavily after the SEC withdrew restrictions on fund inflow to the market, said analysts.

It is a reflection of the relief among investors, said Moin Al Kashem, senior vice-president of the Prime Finance and Investment. He said the investors, institutional or retail, injected funds into the market eased by the latest moves taken by the Securities and Exchange Commission, the capital market regulator.

The DSE turnover Tuesday climbed to its highest ever mark at Tk 372.37 crore, breaking its previous highest of Tk 343.77 crore Monday. Before the Monday s figure, the highest turnover at the DSE was at Tk 316.83 reached on October 22, 2007.

A DSE broker said offloading of the Meghna Petroleum s shares in large-volume also contributed to the record surge of the turnover at the bourse. On Sunday, the SEC raised the maximum rate of margin loan for merchant banks to 1:1 with effect from (February 10) with a view to improving the liquidity situation at the market which had recently been going through a somewhat shortage of liquidity inflow.

To improve the liquidity situation at the market, the SEC also reintroduced financial adjustment facility against the trading of shares of A, B, G and N categories from last Sunday. The DSE general index gained 93 points or 3.20 per cent last week to close at 3000.17 on Thursday, while it blue chips index, DSE20, advanced by 21.49 points or 0.91 per cent to close at 2381.08.

With the rise in the share prices, DSE market capitalisation recorded its highest ever mark with Tk 80,226 crore on Thursday, surpassing its previous highest of Tk 79,697 crore on January 16. Of the total 256 issues traded at the DSE last week, 165 gained, 88 declined and three remained unchanged.

Twenty-eight issues recorded no transaction during the period. Wata Chemicals topped the gainers list in the week with 79.32 per cent rise in its share price while M Hossain Garments was the worst loser with 22.22 per cent fall. Meghna Petroleum topped the turnover leaders with total transaction of Tk 213.11 crore, which was 14.96 per cent of the total turnover of the bourse last week.

Jamuna Oil Company was the second biggest turnover leader with Tk 153.76 crore. Other turnover leaders were Grameen Mutual Fund One, AB Bank, Aims 1st Mutual Fund, Summit Power, BRAC Bank, IFIC Bank, Lankabangla Finance and National Bank.

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