DSE witnesses lowest turnover in 2011

Bearish trend at the Dhaka Stock Exchange (DSE) continued to affect the general investors for the fourth straight weeks amid lowest average daily turnover in this year till date through the much talked ‘Bangladesh Fund’ started its operation Thursday.
“The largest ever mutual fund which was floated mainly to bring back stability in stock market failed to spur the investors’ sentiment as big investors remained out of the market,” said a merchant banker.
A total of four trading sessions took place in the week as Sunday was the public holiday (May Day). Only one session gained while three sessions lost.
During the week, the benchmark index DGEN shed 151.44 points or 2.50 per cent to 5,899.40.
The broader DSE All Shares Price Index (DSI) ended at 4,907.17 went down by 125.78 points or 2.50 per cent. The DSE-20 index including blue chips also lost 29.61 points or 0.77 per cent to 3,796.60.
The market insiders said the market could not get strength as big and institutional investors remained away from the market regarding government’s announcement of re-investigation against big volume of traders.
“The ‘Bangladesh Fund’ could not make any positive impact in the market as big and institutional investors remained idle from the market,” they said.
The big investors who made big volume of trade are now keeping distance from the market and many of them sold shares instead of buying, fearing possible government action, said capital market analyst Akter H Sannamat.
Meanwhile, on Saturday last, finance minister AMA Muhith officially published the share scam report without any changes of the original report. He also hinted further investigation and measures including re-structure of the Securities and Exchange Commission.
The total turnover value stood at Tk 18.75 billion as there was one less trading session in the week compared to the previous week’s value.
Average daily turnover value for this week was Tk 4.7 billion (US$ 66.0 million) compared to Tk 5.7 billion (US$ 80.7 million) in the previous week. This was the lowest average daily turnover for the year till date.
All the sectors lost in the week except banking sector which gained marginally by 0.13 per cent.
Ceramics and jute sector were the biggest losers; with 7.80 per cent and 7.70 per cent loss respectively in the week.
Among the other sectors, NBFIs, telecommunications and fuel and power lost 4.46 per cent, 1.91 per cent and 3.02 per cent respectively.
Out of 258 issues traded, only 39 advanced and 211 declined while eight remained unchanged.
The market capitalization was Tk 2,772.19 billion in the opening day of the week and at the end of the week, it stood at Tk 2,715.04 billion, which was 2.06 per cent down.
Bextex Limited emerged at the top position of the turnover list with share worth Tk 1.04 billion changing hands during the week.
The other turnover leaders were Beximco Limited, RN Spinning, BSRM Steels, Titas Gas, DESCO, UCBL, National Bank, United Airways and Aftab Automobiles,
Shajalal Islami Bank was the week’s top gainer posting a 12.54 per cent rise in the week.
It was followed by Phoenix Finance 1st Mutual Fund, RN Spinning, Continental Insurance, Glaxo SmithKline, Jamuna Bank, Fu-Wang Foods, Third ICB, Eastern Bank and Trust Bank.
United Leasing was the week’s top loser. The other top losers included Dhaka Insurance, Uttara Finance, Ambee Pharma, BD Finance, UCBL, Aziz Pipes, Safko Spinning, Midas Financing Limited, and Central Insurance.
The week started with the DGEN losing 59.46 points or 0.98 per cent in the first trading session Monday, falling below the 6,000 points benchmark, to close at 5,998.31 points as Sunday was public holiday because of May Day.
The index continued to decline in the next trading session on Tuesday, retracing by 125.67 points or 2.10 per cent.
On Wednesday, it regained 107.38 points or 1.83 per cent. However, turnover declined to Tk 3.8 billion, which was the lowest volume for more than three months since January 25.
However, the rebound could not sustain as DGEN fell by 73.69 points or 1.23 per cent on Thursday.
As many as 23 listed companies announced their corporate declaration during the week.
Among them—Agrani Insurance announced 10 per cent bonus share, Rupali Insurance 20 per cent bonus, Shine Pukur Ceramics 15 per cent bonus, Bextex Limited 15 per cent bonus, Beximco Synthetics 15 per cent bonus,
Pheonix Insurance 25 per cent bonus, Global Insurance 10 per cent cash and 10 per cent bonus, Provati Insurance 12 per cent bonus, Sonar Bangla insurance 12 per cent bonus, Beach Hatchery 15 per cent bonus, KPCL 20 per cent bonus, Ambee Pharma 30 per cent cash, Aramit 30 per cent cash, CMC Kamal 12.50 per cent bonus, Monno Staffler 15 per cent cash, BD Thai Aliminium 25 per cent bonus, Renata 60 cash and 25 per cent bonus, Rangpur Foundry 21 per cent cash, Golden Son 5 per cent cash and 10 per cent bonus, IBN Sina 10 per cent cash and 20 per cent bonus, Kay and Que 5 per cent bonus and Aramit Cement 10 per cent bonus.

 

Courtesy of The Financial Express

Related News

MTB Foundation and Buet provide student scholarships

Business Desk : dhakamirror.com The Bangladesh University of Engineering and Technology (Buet) and the Mutual Trust Bank (MTB) Foundation recently held a “Saifuddin Ahmed Chowdhury Memorial Scholarship” program at the Buet academic council bhaban in Dhaka. The programme aims to provide funds on a monthly basis to 33 students of 12 departments, said a press ... Read more

Jamuna Bank Foundation holds free plastic surgery camp

Business Desk : dhakamirror.com A free plastic surgery camp for cleft lip, palate, and burn patients was held at Munshiganj General Hospital by Jamuna Bank Foundation. Specialized doctors from the Netherlands provided treatment during the camp, reads a press release. Local government Tazul Islam attended the camp as the chief guest. Chairman of Jamuna Bank ... Read more

Disney Star and Beximco Digital Distribution reach broadcast agreement in Bangladesh

Business Desk : dhakamirror.com Beximco Digital Distribution Limited (BDDL), a concern of Beximco Group has signed a deal with Disney Star to distribute eight of their popular entertainment television channels across Bangladesh via paid television service through cable, IPTV, and OTT. The collaboration will see BDDL distribute Disney Star’s channels in the original languages of ... Read more

6 Organizations and 5 Individuals get Best CSR Awards 2022

Business Desk : dhakamirror.com Six organizations and five individuals were recognized with “A Better Tomorrow CSR Awards 2022” for making positive contributions to society through various projects. The awards were presented by Planning Minister Abdul Mannan at a ceremony held at Le Meridian Dhaka in the capital, according to a press release. The Daily Star ... Read more

Nagad gets two MasterCard Excellence Awards 2022

Business Desk : dhakamirror.com The Postal Department’s Nagad mobile financial service won the “Mastercard Excellence Award 2022” for its digital innovation in Bangladesh’s financial industry. According to a press release, Nagad won its second online award for its outstanding merchant business contributions. Mastercard recently held the “Mastercard Excellence Award 2022” ceremony in Dhaka’s five-star hotel ... Read more

Rupali Bank made Tahmina Akhter DMD

Business Desk : dhakamirror.com Rupali Bank Limited has appointed Tahmina Akhter to the position of Deputy Managing Director (DMD). The Financial Institutions division of the Ministry of Finance issued a circular in this regard recently, reads a press release.  Before joining as DMD, she successfully served as general manager in the same bank. Tahmina Akhter ... Read more

Asian Banker named Islami Bank as ‘Strongest Bank’

Business Desk : dhakamirror.com Singapore-based banking and financial intelligence platform The Asian Banker has named Islami Bank Bangladesh the “Strongest Bank in Bangladesh” and the “Strongest Islamic bank in Bangladesh” for 2022. Foo Boon Ping, the platform’s managing editor, announced this on Thursday through a virtual platform which was joined by Mohammed Monirul Moula, managing ... Read more

1000th sub-branch of IFIC Bank opens in Meherpur

In an effort to create the most extensive and technologically advanced banking network in the country, IFIC Bank has inaugurated its 1000th sub-branch in Mujibnagar, Meherpur. The bank’s chairman and Adviser on Private Industry and Investment to the Prime Minister Salman F Rahman and State Minister for Public Administration Farhad Hossain was present as the ... Read more

Berger Paints offers ‘Mr. Expert Damp Guard’

Business Desk : dhakamirror.com Berger Paints Bangladesh recently launched a product called “Mr. Expert Damp Guard”, saying it protects homes from damages possible from damp conditions.  Rupali Chowdhury, managing director, and Arifin Shuvoo, brand ambassador of Mr. Expert Damp Guard, inaugurated the product at Le Meridien Dhaka, said a press release. “With this new product ... Read more

Ceramics show begins November 24

Business Desk : dhakamirror.com In an effort to boost export revenues, the Bangladesh Ceramic Manufacturers and Exporters Association (BCMEA) is holding a three-day expo from November 24–26. The expo is scheduled to take place in the International Convention City Bashundhara in Dhaka, and organizers anticipate participation from some 200 brands from 15 countries, including the ... Read more

H&M’s Bangladesh plan is big

A senior official at the Swedish retail giant says Business Desk : dhakamirror.com H&M has a big plan for sourcing from Bangladesh, but prices will rise by up to 12% after the country graduates from the least-developed countries group in 2026. Bangladesh will lose preferential market access and face 10-12% export duties after becoming a ... Read more

‘One Country, One Rate’ initiative of BTRC wins global honor

The award is presented by ASOCIO in recognition of introducing a non-discriminatory ‘one country one rate’ tariff in Bangladesh News Desk : dhakamirror.com Bangladesh Telecommunication Regulatory Commission’s (BTRC) steps to ensure affordable broadband internet got global recognition as its internet at a flat rate initiative, ‘One Country, One Rate,’ won the ASOCIO-2022 award in the ... Read more

Bangladesh produced 2.51 lakh tonnes of shrimp in FY21: minister

Business Desk : dhakamirror.com Bangladesh produced 2.51 lakh tonnes of shrimp in the 2020-21 fiscal year, and the country’s export income has increased in recent years despite the global recession and Covid-19 pandemic, according to Fisheries Minister SM Rezaul Karim. He spoke at the InterContinental Dhaka in the capital during the closing ceremony of the ... Read more

Bangladesh attends Fashion World Tokyo

Business Desk : dhakamirror.com Bangladesh attended Fashion World Tokyo Autumn 2022 on October 18-20 in Tokyo, Japan. Bangladesh’s Ambassador to Japan Shahabuddin Ahmed opened the Bangladesh Pavilion at Tokyo Big Sight on 18 October 2022, according to a release issued by the embassy there. This is the largest trade show for the fashion industry in ... Read more

StanChart and Brac University to establish curriculum

Business Desk: dhakamirror.com Standard Chartered Bangladesh and Brac University signed a memorandum of understanding recently to develop a curriculum on financial crime and compliance for both undergraduate and graduate students. The aim is to develop professionals trained to prevent financial crime while following both local and international standards of compliance, the lender said in a ... Read more

Singer’s profits drop despite rising sales

Business Desk: dhakamirror.com Although Singer Bangladesh logged higher sales between July and September this year, the company still incurred losses in the quarter, according to a press release. Sales of the multinational electronic and home appliance company were 12.8 per cent higher at Tk 520 crore in the July-September quarter compared to the same period ... Read more

Foodpanda sponsored Bangladesh’s Street Child World Cup team

Business Desk: dhakamirror.com Foodpanda donated €5,000 to the LEEDO squad representing Bangladesh at the Street Child World Cup 2022 in Doha. A Jersey Handover Ceremony was recently held at foodpanda headquarters. The Street Child World Cup Doha 2022 took place 8-15 October and brought impoverished children from around the world together for a football game, ... Read more

bKash partners with wagely to make it easier for RMG workers to access their earned wages

The facility will help RMG employees handle their emergency fund Business Desk: dhakamirror.com Wagely Bangladesh Ltd (wagely) will give Earned Wage Access (EWA) to garment workers who use bKash’s payroll system. With this feature, employees can get already-earned income before payday through their bKash account, helping them handle emergency money, according to a press release. ... Read more

Apex Footwear announces offers on anniversary

Business Desk : dhakamirror.com Apex Footwear yesterday launched its 25-year celebration campaign at The Daily Star Centre in Dhaka, where the company announced some offers and customer engagement activities that will be available at each outlet across the country till the end of December. Conditions apply on all the offers, which include lucky 25, spin ... Read more

Grameenphone reported 5.7% revenue increase in Q3 2022

Business Desk : dhakamirror.com Telecom operator Grameenphone has reported revenues of Tk11,286.75 crore for the first nine months of 2022, registering a growth of 5.7% from the same period last year. In the third quarter, the company lost some 2.9 million subscribers owing to a ban on SIM sales imposed by the Bangladesh Telecommunication Regulatory ... Read more