Dhaka stocks rise to fresh highs

Dhaka stocks advanced on Sunday after a profit booking session with the key index, DSEX, hitting all time high at above 5,900 points as investors continued injecting fund, especially in the bank companies amid optimism.
The DSEX advanced 0.46 per cent, or 27.18 points, to close at 5,907.62 points after falling 10 points in the previous trading session.
The core index reached the peak point after its launch with 4,055 points on January 28, 2013.
In 2013, the bourse launched DSEX under Standard and Poor’s developed free-float methodology with a view to replace the then key index of the bourse, DGEN. 
The market touched the psychological barrier of 5,900 points within first 10 minutes of the trading session that rose further as the investors continued to inject fund in the capital market with fresh enthusiasm, market operators said.
They said that the continuous surge in most of the share prices bolstered investors to invest in the market.
The key index hit records for multiple times recently that drew attention of many investors who were in the side-line for months, they said.
Market capitalisation of the bourse also continued to break records, increasing to its all-time high to Tk 396763.03 crore on Sunday as share prices continued to rise.
Moreover, better earnings declaration and lower prices of bank companies kept instigating investors to invest fresh fund in their shares, stockbrokers said. 
As a result, the average share prices of banks advanced by 1.18 per cent.
Out of 30 traded bank scrips, 25 advanced, 4 declined and 1 remained unchanged on the day.
Engineering, telecommunication and energy added fuel to the surge of the market, gaining by 1.94 per cent, 0.69 per cent and 0.28 per cent respectively.
Meanwhile, the increased share buying from directors of the City Bank in recent week drew some investors’ attention to the company shares, stockbrokers said.
According to the data from DSE, five directors of the bank expressed intension to buy a total of 51,71,500 shares of the bank from July 30 to Sunday.
As a result, the surge in share prices of City Bank helped most to rebound the market on Sunday.
City Bank also led the turnover chart on the day with its shares worth Tk 36.07 crore changing hands.
Meanwhile, the share prices of newly listed BBS Cables closed around the upper limit of the circuit breaker that posted the highest gain of the day.
On the other hand, the average share prices of cement and non-bank financial institutions declined by 0.97 per cent and 0.41 per cent respectively on the day.
Turnover on the bourse, however, declined to Tk 919.32 crore compared with that of Tk 1,077.99 crore in the previous trading session.
Of the 332 companies and mutual funds traded, 153 advanced, 146 declined and 33 remained unchanged.
DS30, the blue-chip index of the DSE, closed at 2,130.07 points, adding 0.32 points or 6.95 points.
The Shariah index of the bourse, DSES, gained 0.11 per cent, or 1.49 points, to close at 1,313.12 points.
BBS Cables, IFAD Autos, LankaBangla Finance, C and A Textiles, IFIC Bank, Apollo Ispat, Keya Cosmetics, Tung Hai Knittting and Mercantile Bank were the other turnover leaders.
BBS Cables gained the most on the day with a 9.84 per cent increase in its share prices, while Information Services Network was the worst loser, shedding 6.25 per cent. 
Source: New Age

Dhaka stocks plunge further on persisting sale pressure

Share prices continued to fall across the board on Dhaka Stock Exchange (DSE) as a persisting sale pressure created high supply-demand mismatch.

The daily transaction increased at the bourse mainly because of voluminous shares’ offloading by the investors on selling spree, which at the end of the session pushed all the three indices towards record low in past few months.

After hitting over 8-month to close the previous session, the broader DSEX lost 52.22 points to finish Tuesday’s session at 4345.03, with the blue-chip DS30 and Shariah DSES plunging at 1669.16 and 1064.21 respectively.

The trade volume at Tuesday’s close rose to 6.90 crore shares and the value to Taka 325 crore from Monday’s 6.53 crore worth Taka 305 crore. The higher activities on the supply side effectively created a mismatch with the demands on the market, forcing issues from all sectors to close lower.

Out of traded 308 issues, 246 incurred losses when only 39 managed to close moderately higher and 23 remained static.

Prime Textile, Shurwid Industries, Union Capital, Samata Leather and Continental Insurance were the worst losers.

Among major advancing issues, United Power finished the session significantly higher with over 15.0 percent rise on its post disclosure trading. The company got good response from investors after announcing Taka 59.64 crore profit after tax.

The other major gainers were Pharma Aid, IFISLMF1, Ambee Pharma and Reliance Insurance.

United Power topped the trading list followed by Ifad Autos, ACI, MJLBD and Grameenphone. (source: bss)

Dhaka stocks fall as investors stare at city polls affairs

Dhaka stocks returned to the negative zone on Wednesday after a bull run in the previous trading session due to profit-taking share sell-offs in late trading amid an apprehension that the political situation might worsen again with the cancellation of mayoral candidature of two BNP-backed aspirants by the Election Commission.

The key index of Dhaka Stock Exchange, DSEX, fell by 0.38 per cent, or 17.37 points, to close at 4,513.10 points.

The turnover, a key indicator of the market, also declined to Tk 359.71 crore on the day compared with that of Tk 452.72 crore in the previous trading session. The turnover at the bourse had hit its four-month high on Tuesday following talks about formation of a forum to sort out the problems of the capital market-related entities.

Market operators said the market began the day on a positive note but failed to sustain the vibe amid profit-taking share sell-offs in late trading session.

Besides, investors were apprehending that the rejection of candidature of Abdul Awal Mintoo for the mayoral post of the Dhaka North City Corporation by the Elections Commission on Wednesday would be a factor in making the BNP’s final decision on its participation in the city corporation polls, they said.

Investors who were on the sidelines for the last couple of months have become active recently on the trading floor amid expectation that the political situation would ease with the BNP-backed candidates duly submitting nomination papers to the Election Commission, operators said.

The Shariah index of the bourse, DSES, fell marginally by 0.40 per cent, or 4.46 points, to close at 1,098.66 points on the day.

DS30, the blue-chip index of the DSE, declined to 1,719.88 points, shedding 0.49 per cent or 8.59 points.

‘The DSEX fell by 17 points today [Wednesday], reversing the day’s robust start,’ IDLC Investments said in its daily market commentary.

It said impatience and uncertainty on the part of the investors could be the main catalysts behind the current zigzag move in the index.

‘Investors maintained their interest on particular stocks and sectors as pharmaceuticals captured 19.2 per cent of the total turnover,’ said IDLC.

‘Today’s trading session started with a positive mood, but at the end of the day it ended up in the red territory as prices of most of the large cap stocks declined on the day,’ LankaBangla Securities said in its daily market analysis.

MJL Bangladesh led the turnover leaders on the day with its shares worth Tk 22.31 crore changing hands.

Square Pharmaceuticals, Grameenphone, ACI Limited, Shasha Denims, BEXIMCO, Lafarge Surma Cement, Saif Powertec, Khulna Power and IFAD Autos were among the other turnover leaders.

AB Bank 1^st Mutual Fund gained the most on the day with a 9.09-per cent increase in its share price, while Jute Spinners was the worst loser on the day, shedding 9.62 per cent. (Source: New Age, April 2, 2015)

Dhaka stocks slide on fresh political worries

Dhaka stocks went negative on Monday after investors’ heavy buying spree in last two trading sessions amid enforcement of 48-hour strike by the BNP-led allies that made investors skeptical about the party’s stance on city corporation elections.

The key index of Dhaka Stock Exchange, DSEX, fell by 1.07 per cent, or 48.79 points, to close at 4,509.28 points on the day.

Investors became skeptical about BNP’s stance on the city corporation elections as the party on Sunday evening called a 48-hour strike from Monday excluding Dhaka and Cittagong, market operators said.

Investors since the declaration of election schedule for three city corporations have been keeping close eye on BNP’s stand regarding elections, they said.

Operators said that investors were thinking that BNP’s participation might ease the political situation while their boycott of the election might result in extension of the political unrest.

Investors on Sunday went for heavy buying of shares as the main opposition did not declare any strike on Saturday breaking last three months’ trend of their movement.

The market was on the decline for last three months as the BNP-led alliance since January 5, the first anniversary of the one-sided elections, continued to enforce strikes except the weekly holidays supplementing countrywide nonstop blockade.

DS30, the blue-chip index of the bourse, declined at 1,717.48 points, adding 1.17 per cent or 20.39 points on Monday.

The Shariah index of DSE, DSES, closed at 1,096.69 points, slipping by 1.30 per cent or 14.54 points.

Turnover of DSE declined to Tk 314.93 crore on Monday compared with that of Tk 393 crore in the previous trading session.

Of the 306 shares and mutual funds traded on the day, 76 advanced, 198 declined and 32 remained unchanged.

Grameenphone led the turnover chart on the day as its shares worth Tk 28.54 crore changed hands.

ACI Limited, Shasha Denims, Lafarge Surma Cement, IFAD Autos, MJL Bangladesh, Pharma Aids, Western Marine Shipyard, Square Pharmaceuticals and ACI Formulations were among other turnover leaders.

Pharma Aids gained the most with a 7.46-per cent increase in its share prices, while One Bank was the worst loser, shedding 18.59 per cent. (Source: New Age, March 31, 2015)

Bangladesh: Dhaka stocks end positive

Dhaka, June 27 (New Age): Dhaka stocks ended positive on Thursday, last trading session of the week, but turnover at the bourse dropped as some investors remained cautious ahead of the budget approval.

The benchmark general index of the Dhaka Stock Exchange, DSEX, finished at 4,409.42 points, adding 0.13 per cent or 5.77 points.

Turnover of the bourse declined to Tk 302.78 crore on the day from Tk 337.72 crore in the previous trading session.

Market operators said investors were little-bit cautious ahead of the final approval to the proposed budget for the fiscal year 2014-2015.

The government in the proposed finance bill imposed 3-5 per cent gain tax on individual investors and scrapped 10 per cent tax rebate for the listed companies that had kept investors pessimistic for two weeks after the budget proposals.

Investors became hopeful after the Bangladesh Securities and Exchange Commission and the bourses had requested the finance minister, AMA Muhith, to scrap capital market unfriendly proposals from the budget, they said.

Operators also said that investors were hoping that the proposals would be reviewed by the government.

DS30, the blue-chip index of the DSE, however, closed negative at 1,616.57 points, shedding 0.16 per cent or 2.74 points.

The Shariah index of the bourse, DSES, slipped by 0.10 per cent, or 1.01 points, to close at 1,006.22 points.

Of the 294 shares and mutual funds traded on the day, 152 advanced, 104 declined and 38 remained unchanged.

‘FY 2013-14 is close to its end and the bourse observed June-impact, lately,’ IDLC Investors said in its daily market commentary.

Most of the individual investors started positioning on the hope of getting tax rebate on their income, it said.

‘Accordingly, they preferred selective lucrative scrips, fundamentally as their safe investment,’ it said.

‘Meanwhile, budgetary hopes still prevailed,’ said IDLC.

But, this rebate seeking money flow was out-weighted by the inactivity of large investors, it also said.

Bangladesh Export Import Company traded the most with its shares worth Tk 24.08 crore changing hands, while share prices of the company advanced by 7.90 per cent on the day.

Stock Refinance Scheme: Application deadline extended again for 3 months

Dhaka, June 24 (New Age): The supervision committee on the Tk 900-crore government refinance scheme for the small-scale investors affected by the 2010-11 capital market crash on Monday extended the deadline again for receiving applications from merchant banks and brokerage houses. This time the application deadline, which was to expire on June 30, has been extended by another three months. The committee at a meeting also decided to suggest the ICB for filing application with the central bank to get Tk 300 crore as the second tranche from the refinance scheme, BSEC executive director Saifur Rahman told New Age after the meeting. Saifur, also the convener of the committee, said, ‘Considering the gradual improvement in loan disbursement of the fund, we have decided to extend the deadline for another three months to get loan applications from the merchant banks and brokers on behalf of the affected small investors.’ As per the latest report provided by the Investment Corporation of Bangladesh, loans worth Tk 239 crore have so far been disbursed among the investors and applications for Tk 111 crore loans are in progress for disbursement, he said. Bangladesh Bank on August 26, 2013 released Tk 300 crore to the ICB as the first tranche of the refinance scheme. More than 9 lakh affected investors are yet to file applications to the loan approval committee to get the loans from the government fund. The supervision committee for the first time had set November 30 as deadline to receive applications from the merchant banks and brokerage houses in favour of affected small investors. Since then, it has extended the deadline for four times due to slow response from the merchant banks and stockbrokers. Merchant banks and brokerage houses have time and again demanded that the BSEC should take steps in obtaining a directive from the National Board of Revenue allowing the amount of loans waived for the affected small-scale investors as allowable expenses. The stock market intermediaries also requested for waiver of some conditions out of the 18 conditions set by the government to apply for the loans. As per a Bangladesh Securities and Exchange Commission report sent to the finance ministry in April 2013, only 7,413 small-scale investors out of the 9,53,849 affected by the 2010-11 stock market crash got interest waiver. The loan benefit was announced as part of government-set compensation package for the investors who had investment below Tk 10 lakh during the market crash.

Dhaka stocks plunge sparks fresh protests

From New Age
The massive fall in share prices on the Dhaka Stock Exchange on Monday triggered fresh street demonstrations by the aggrieved investors in demand of a clear government policy for stabilising the capital market.

DGEN, the benchmark general index of the DSE, lost 3.33 per cent, or 167.68 points, on the day to close at 4,864.30 points. The DGEN slipped by 358 points in the past three days.

Agitated investors staged rowdy demonstrations in front of the DSE building at Motijheel keeping the traffic from Shapla square to Ittefaq crossing at a standstill from 12:20pm to 3:30pm.

Trading at the bourse started in a negative mood on the day with the DGEN losing around 125 points in the first five minutes. The index had fluctuated heavily throughout the session before closing below the psychological benchmark of 5,000 points.

Investors rushed out of different brokerage houses on the street at around 12:20pm and formed a human chain in front of the entrance to the DSE.

They set piles of wooden materials and paper on fire

and chanted slogans against National Board of Revenue chairman Nasiruddin Ahmed, finance minister AMA Muhith, Bangladesh Bank governor Atiur Rahman, and DSE president Shakil Rizvi for their failure to bring back stability to the market which had been passing through a depression for more than long one year.

The demonstrating investors demanded withdrawal of the latest NBR order banning investment of money earned in criminal ways in the securities market.

The statutory regulatory order of the revenue board said if the money was earned through criminal acts outlined in other laws then that fund would not be accorded the same privilege as that of undisclosed money.

Earlier in the budget session, the government allowed investment of undisclosed money in stocks without raising any question, subject to payment of a 10 per cent tax.

The NBR on several occasions said the provision would not be changed before the next national budget.

From the demo, investors also demanded stable government policies for stabilising the market. ‘When government policies regarding the equities market are not stable then how will those stabilise the market,’ an investor named Hamid asked.

‘The government is always coming up with short-term solutions for the market while prescribing us to go for long-term investment. This is really ridicules,’ he said.

To a question about the recent market downtrend and investors’ allegations, DSE senior vice president Ahasanul Islam first called on the investors to remain calm and act rationally. He then said, ‘The market is very sensitive and investors are reacting in a mercurial pace to its every change.’

He said the recent market downtrend was a cumulative effect of a number of issues.

‘The margin loan problem is still haunting the market and the lack of institutional participation has been intensifying it,’ he said.

He also said that ‘Rather than going for selling shares at a loss, investors should wait for corporate disclosures due to come out soon.’

The benchmark general index of the country’s premier bourse had slid 37 per cent over 2011 in a worst-ever crash that wiped out investments made by many thousands.

The DGEN which had stood at 8,290.41 points on December 31, 2010, closed on Thursday, the last trading day of the year, at 5,257.60 points, posting a lose of 3,032 points over the last calendar year.

Lack of coordination between the regulatory authorities and other stakeholders also made the measures taken by the government to rejuvenate the country’s ailing capital market ineffective. And so, the Dhaka stocks continued to fall like a stone from miles high in a hopeless, helpless state.