Committed to PEOPLE'S RIGHT TO KNOW
Vol. 5 Num 1098 Tue. July 03, 2007  
   
Business


Bourses greet new fiscal year
Price indices up


The capital market yesterday started the new fiscal year 2007-08 with an upward trend in price indices.

The benchmark index of Dhaka Stock Exchange, DSE General Index, increased by 41.14 points, or 1.91 percent, ending the day at 2190.46 points while the CSE Selective Categories Index rose by 70.39 points, or 2.02 percent, finishing at 3548.99 points.

Besides, the DSE All Share Price Index also rose by 32.55 points, or 1.84 percent, to close at 1796.73 points while the CSE All Price Index gained by 97.52 points, or 1.87 percent, to finish at 5292.29 points.

Of the 209 issues traded on the DSE, 141 advanced and 47 declined with 21 unchanged, while of the 101 issues traded on the Chittagong Stock Exchange (CSE), 73 gained and 19 declined with nine unchanged.

Market analysts said starting of the new fiscal with an upward trend is the reflection of continuation of rallying of shares during the recent times.

They said during the first-half of the just concluded fiscal year the political volatility took its toll on the stock markets. But the stock prices bounced back in the early of second-half of the last fiscal year, as the state of emergency ended the political instability.

Besides, increased participation of institutional and foreign investors pushed up the market during the time, they said.

They, however, expressed concern that increasing demand for shares may create an overheating situation in the market.

They observed that offloading of new shares of state-owned enterprises (SoEs) and listing of big multinational companies in the private sector, such as telecom companies, can meet the demands of new securities by the investors.

On the premier bourse yesterday, a total of 18,943,875 shares worth Tk 205.94 crore were traded, while on the port city bourse a total of 4,636,359 shares worth Tk 39.69 crore were traded.

At the end of the day, Exim Bank topped the turnover leaders on the DSE with 496,050 shares worth Tk 21.05 crore. The other turnover leaders were Power Grid Company of Bangladesh, Shahajalal Islami Bank, Brac Bank, Dhaka Electric Supply Company, Southeast Bank, Grameen Mutual Fund One, Pubali Bank, Premier Bank and Prime Bank.

On the CSE, Shahajalal Islami Bank topped the turnover leaders with 219,750 shares worth Tk 5.42 crore. The other turnover leaders were Exim Bank, Premier Bank, Power Grid Company of Bangladesh, Pubali Bank, Brac Bank, Lanka Bangla Finance, Standard Bank, Bextex and Grameen Mutual Fund One.