FE Report
The first trading day of the new calendar year witnessed a steep gain Thursday as investors went for buying spree following the securities regulators' positive steps to boost stock market. The securities regulator -- Bangladesh Securities and Exchange Commission (BSEC)-- Wednesday allowed share netting facility for the same security and extended the deadline to provision un-realised losses of merchant banks and stock brokers. The securities regulator also extended the suspension period of effectiveness of the section 3(5) of the margin rules till June 30, 2015, allowing transactions in the portfolios which declined below 150 per cent in value. "The securities regulator's positive steps might encourage the investors to take position on stocks," said a merchant banker. The market opened with a sharp rise which sustained throughout the session. DSEX, the prime index of the Dhaka Stock Exchange (DSE) crossed the 4,900-mark after three weeks and ended at 4,941.51 points, gaining 76.55 points or 1.57 per cent. The DS30, comprising blue chips gained 40.12 points or 2.22 per cent to close at 1,843.18 points. The DSE Shariah Index rose 23.79 points or 2.06 per cent to close at 1,174.01 points. However, turnover dropped to Tk 2.27 billion, registering a decline of 14.34 per cent over the previous session's value of Tk 2.65 billion. Some brokerage houses alleged that they faced technical glitches to execute trading during the trading hours which disrupted smooth share transactions. Therefore, turnover dropped substantially despite index rose sharply. "The positive tune on the first trading day of the year amidst increased optimism from investors following a number of positive steps taken by BSEC, including share netting facility for same security," said International Leasing Securities. The early positive vibe sustained throughout the session that resulted from investors increase buying pressure. DSEX upsurge as large-cap stocks from leading sectors witnessed sizable price-hike throughout the session, said International Leasing. IDLC Investments said with the hope of reviving economic indicators, the maiden session of 2015 demonstrated robust gain. "Some positive news regarding financial sectors encouraged investors to create buying pressure on large-cap and mid-cap stocks," said the merchant bank. Besides, increased level of volatility was also observed, fostering investors' interest to some micro-cap issues, said the merchant bank. However, in spite of allowing same stocks netting facilities for A, B, G and N category securities, turnover declined by 14.3 per cent to settle at Tk 2.27 billion as most of the investors were in observing mood, the merchant bank added. LankaBangla Securities said most of the companies' generated positive return as gainers overtook losers by 215 to 60. "The securities regulator's allowance of share netting facility for same security could not increase the turnover level of the bourse as investors remained cautious about trading in full gear," said the stock broker. Among the major sectors, cement recorded the highest gain of 5.46 per cent - followed by power which was up by 1.29 per cent. The financial sectors banks and NBFIs also performed well, gaining 1.11 per cent and 1.03 per cent respectively. Pharmaceuticals, food and allied and telecommunication posted decent gains of 0.93 per cent, 0.80 per cent and 0.68 per cent respectively. The gainers took a lead over the losers as out of 308 issues traded, 226 advanced, 58 declined and 24 remained unchanged on the DSE floor. Activities decreased in the major bourse where trade and volume were down 2.59 per cent and 14.16 per cent respectively. A total of 0.066 million trades were executed with trading volume of 56.39 million securities. The market capitalisation on DSE stood at Tk 3,293.56 billion against Tk 3,259.24 billion in the previous session. Lafarge Surma Cement was the most traded stock with shares worth Tk 159.12 million changing hands followed by MJL BD, Agni Systems, Beximco Pharma and CVO Petrochemicals. Prime Life Insurance was the day's top gainer, posting a rise of 8.00 per cent while Dula Mia Cotton was the day's worst loser, plunging 6.49 per cent. Al-Haj Textile was the day's top gainer, positing a rise of 10.05 per cent while Pragati Life Insurance was the worst loser, plunging by 8.69 per cent. The port city bourse, Chittagong Stock Exchange (CSE) also closed higher with its Selective Categories Index - CSCX - gained 107.33 points to close at 9,165.68 points. Gainers beat losers 169 to 45, with 22 issues remaining unchanged at the port city bourse that traded 6.20 million shares and mutual fund units, turnover value of Tk 211.74 million. The DSE and CSE will remain closed Sunday (January 04, 2015) on the occasion of public holiday due to Eid-e-Milad-un-Nabi. Trading will resume on January 05, 2015. babulfexpress@gmail.com
The first trading day of the new calendar year witnessed a steep gain Thursday as investors went for buying spree following the securities regulators' positive steps to boost stock market. The securities regulator -- Bangladesh Securities and Exchange Commission (BSEC)-- Wednesday allowed share netting facility for the same security and extended the deadline to provision un-realised losses of merchant banks and stock brokers. The securities regulator also extended the suspension period of effectiveness of the section 3(5) of the margin rules till June 30, 2015, allowing transactions in the portfolios which declined below 150 per cent in value. "The securities regulator's positive steps might encourage the investors to take position on stocks," said a merchant banker. The market opened with a sharp rise which sustained throughout the session. DSEX, the prime index of the Dhaka Stock Exchange (DSE) crossed the 4,900-mark after three weeks and ended at 4,941.51 points, gaining 76.55 points or 1.57 per cent. The DS30, comprising blue chips gained 40.12 points or 2.22 per cent to close at 1,843.18 points. The DSE Shariah Index rose 23.79 points or 2.06 per cent to close at 1,174.01 points. However, turnover dropped to Tk 2.27 billion, registering a decline of 14.34 per cent over the previous session's value of Tk 2.65 billion. Some brokerage houses alleged that they faced technical glitches to execute trading during the trading hours which disrupted smooth share transactions. Therefore, turnover dropped substantially despite index rose sharply. "The positive tune on the first trading day of the year amidst increased optimism from investors following a number of positive steps taken by BSEC, including share netting facility for same security," said International Leasing Securities. The early positive vibe sustained throughout the session that resulted from investors increase buying pressure. DSEX upsurge as large-cap stocks from leading sectors witnessed sizable price-hike throughout the session, said International Leasing. IDLC Investments said with the hope of reviving economic indicators, the maiden session of 2015 demonstrated robust gain. "Some positive news regarding financial sectors encouraged investors to create buying pressure on large-cap and mid-cap stocks," said the merchant bank. Besides, increased level of volatility was also observed, fostering investors' interest to some micro-cap issues, said the merchant bank. However, in spite of allowing same stocks netting facilities for A, B, G and N category securities, turnover declined by 14.3 per cent to settle at Tk 2.27 billion as most of the investors were in observing mood, the merchant bank added. LankaBangla Securities said most of the companies' generated positive return as gainers overtook losers by 215 to 60. "The securities regulator's allowance of share netting facility for same security could not increase the turnover level of the bourse as investors remained cautious about trading in full gear," said the stock broker. Among the major sectors, cement recorded the highest gain of 5.46 per cent - followed by power which was up by 1.29 per cent. The financial sectors banks and NBFIs also performed well, gaining 1.11 per cent and 1.03 per cent respectively. Pharmaceuticals, food and allied and telecommunication posted decent gains of 0.93 per cent, 0.80 per cent and 0.68 per cent respectively. The gainers took a lead over the losers as out of 308 issues traded, 226 advanced, 58 declined and 24 remained unchanged on the DSE floor. Activities decreased in the major bourse where trade and volume were down 2.59 per cent and 14.16 per cent respectively. A total of 0.066 million trades were executed with trading volume of 56.39 million securities. The market capitalisation on DSE stood at Tk 3,293.56 billion against Tk 3,259.24 billion in the previous session. Lafarge Surma Cement was the most traded stock with shares worth Tk 159.12 million changing hands followed by MJL BD, Agni Systems, Beximco Pharma and CVO Petrochemicals. Prime Life Insurance was the day's top gainer, posting a rise of 8.00 per cent while Dula Mia Cotton was the day's worst loser, plunging 6.49 per cent. Al-Haj Textile was the day's top gainer, positing a rise of 10.05 per cent while Pragati Life Insurance was the worst loser, plunging by 8.69 per cent. The port city bourse, Chittagong Stock Exchange (CSE) also closed higher with its Selective Categories Index - CSCX - gained 107.33 points to close at 9,165.68 points. Gainers beat losers 169 to 45, with 22 issues remaining unchanged at the port city bourse that traded 6.20 million shares and mutual fund units, turnover value of Tk 211.74 million. The DSE and CSE will remain closed Sunday (January 04, 2015) on the occasion of public holiday due to Eid-e-Milad-un-Nabi. Trading will resume on January 05, 2015. babulfexpress@gmail.com
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