Business Supplement Issue-20

Stocks
5
Sunday, July 9, 2017
DT
W E E K L Y M a r k e t O v e r v i e w
SUMMARY Points Change (%) Turnover (BDTmn) Volume (mn) Advanced issues Declined issues Unchanged Issues
DSEX
5,749.7 DSEX 5,749.7 2.69% 52,956 1,659 281 41 11
(+) 2.69%
CSE ASI 17,819.4 1.73% 3,335 122 216 58 12
Stocks continue to rally amid higher turnover
• Tribune Business Desk
Stocks have recorded yet another
week of massive gains on increase
investors participation last week.
High level of investor participation
has been one of the key drivers
to the recent rally, said traders
at several stock brokerages. They
added, the market is anticipating
overall positive earnings results
this July and satisfactory dividend
announcements of the June-ending
companies as well.
Participation in the Dhaka Stock
Exchange increased substantially
by 48.2% to amount an average
daily turnover of Tk1059cr, crossing
the Tk1,000cr mark.
Fresh funds are being injected
into the market based on recent
turnover, suggested a technical analyst
of a leading stock brokerage.
The benchmark index, DSEX
Most Traded Price Weekly change
LankaBangla 57.0 2.52%
Regent Textile 31.1 0.32%
Baraka Power 46.4 6.42%
Fu Wang Food 21.0 32.91%
Keya Cosmetics 16.4 13.89%
Doreen Power 156.1 1.42%
BEXIMCO 34.4 4.24%
Prime Bank 23.9 6.70%
SAIF Powertec 46.1 5.98%
ICB 195.2 10.59%
Dhaka Tribune has accumulated the stock market related data primarily from Dhaka Stock Exchange website. The basis of information collected was primarily from daily stock quotations and audited/unaudited
reports of publicly listed companies. High level of caution has been taken to collect and present the above information and data. The publisher will not take any responsibility if any body uses this information and
data for his/her investment decision. For any query please email to news@dhakatribune.com.
Asian stocks hit by Wall Street stumble
• Reuters, Tokyo
Asian shares lost ground on Friday
after a weak session on Wall Street,
while global sovereign debt yields
were elevated across the board on
bets the European Central Bank
is moving closer to unwinding its
massive monetary stimulus.
Spreadbetters expected Britain’s
FTSE to open 0.25% lower,
Germany’s DAX to open 0.3%
lower and France’s CAC to open
down 0.2%.
MSCI’s broadest index of
Asia-Pacific shares outside Japan
slipped 0.4%, after the Dow lost
0.7% and the tech-heavy Nasdaq
fell 1% on Thursday, partly as
higher Treasury yields dimmed
the appeal of equities.
Japan’s Nikkei was down 0.5%,
closed at 5,749.7 points on last
Thursday after gaining 150.58
points or 2.69% over the week
while CSE ASI advanced 302.7
points or 1.73% to end at 17,819.4
points.
5,800
5,780
5,760
5,740
5,720
5,700
5,680
5,660
5,640
5,620
5,600
5,580
Dhaka Tribune
Textile equities contributed
17.7% of the week’s total turnover,
said the weekly market report of
UCB Capital Management Ltd.
Fu Wang Food Limited secured
the highest weekly gain of 32.9%
MOVEMENT OF DSEX INDEX LAST WEEK
South Korea’s KOSPI dropped
0.3% and Australian stocks declined
0.9%. Hong Kong’s Hang
Seng slipped 0.4%.
The prospect of the ECB turning
off the flow of easy money
has been a dominant global market
theme since President Mario
Draghi’s hawkish comments last
week, pushing bond yields higher
and hurting equities.
The pan-European STOXX 600
fell to an 11-week low the previous
day and the German 10-year
bund yield rose above 0.5% to
an 18-month high after the ECB’s
June meeting minutes showed
the central bank opening the door
to dropping a long-standing bond
buying pledge.
“It is natural for risk assets in
developed markets to adjust lower
on prospects of curbed liquidity,
as easy money has allowed
them to rise far out of proportion
with their underlying real economies,”
said Yoshinori Shigemi,
global market strategist at JPMorgan
Asset Management.
“For the ECB, tapering of easy
policy and hiking rates are two totally
different things, and it is likely
to make this clear. But right now
the markets are having a hard time
believing the ECB’s intentions.”
The 10-year Treasury note
yield stood near a two-month
high of 2.39%. With more focus
on the euro zone bond market’s
rise in yields, Treasuries brushed
off Thursday’s weaker-than-expected
US ADP employment data.
“Expectations that the European
Central Bank and other central
while Shinepukur Ceramics Limited
turned out the worst loser
with its price declining by 10.1%.
LankaBangla Finance Ltd secured
leadership position on the
top turnover chart with a turnover
of Tk157cr over the week with
its share price advancing 2.5% by
the end of week.
DS30, the blue-chip index
gained 32.2 points or 1.55% to end
at 2,103.6 points, while DSE Shariah
based index advanced 21.1
points or 1.64% to close at 1,307
points.
Among the traded issues 281
gained, 41 declined and 11 remained
unchanged during the
week.
The Dhaka Stock Exchange currently
has a market capitalisation
of BDT 385,426cr with the benchmark
index, DSEX up by 14.2%
since beginning of this year. •
DAY 0 DAY 1 DAY 2 DAY 3 DAY 4 DAY 5
banks joining the Federal Reserve
in moving towards tighter policies
are causing a diversification
of funds away from Treasuries,”
said Junichi Ishikawa, senior forex
strategist at IG Securities in Tokyo.
“The key point is that higher
US yields also tend to weigh on
high-tech sectors by increasing
their funding costs.”
The 10-year Japanese government
bond (JGB) yield initially
reached 0.105%, its highest since
February.
But the rise prompted the Bank
of Japan to act, pushing the 10-year
JGB yield back to 0.09%. The central
bank, which has tasked itself
to control the yield curve as a part
of its easy policy, offered to buy an
unlimited amount of 10-year JGBs
on Friday in order to cap yields. •
DSE NEWS
PRAGATILIF: The Board of Directors
has recommended 8% cash dividend
and 17 % stock dividend for the year
ended on December 31, 2016. Date of
AGM: 28.09.2017, Time: 10:30 AM, Venue:
To be notified later. Record Date:
27.07.2017. Q1 Un-audited: Increase in
life revenue account for Jan-Mar, 2017
was Tk. 108.58 million with total life
insurance fund of Tk. 4,869.71 million as
against increase in life revenue account
of Tk. 92.98 million and Tk. 4,353.12
million respectively for the same period
of the previous year.
DOREENPWR: The Company has
informed that Dhaka Southern Power
Generations Limited (DSPGL), a subsidiary
of Doreen Power Generations and
Systems Limited (DPGSL) has allotted
50,66,700 Ordinary shares of Tk.
100.00 each to DPGSL (against share
money deposit) after getting consent
from the BSEC vide letter No. BSEC/CI/
CPLC (Pvt.)-653/2015/318 dated July
02, 2017. After this allotment of the
shares, holding of DPGSL in the books
of DSPGL has been increased to 99.14%
from 96.78%.
IFADAUTOS: The Company has
informed that the Board of Directors
has decided to sell 402.34 decimal
land (Book Value Tk. 63,891,592.00)
at Khalia, Dhamrai, Dhaka and
767.25 decimal land (Book Value Tk.
121,839,300.00) at Khulla, Dhamrai,
Dhaka and subsequently purchase land
adjacent to IFAD Autos Limited’s assembly
unit. The detailed proceed of sale
will be notified after its execution.
PTL: With reference to their earlier
news (disseminated by DSE on
31.05.2017), the Company has further
informed that the Board of Directors of
the Company has decided to participate
to develop HSD Based 2X100 MW IPP/
Rental Power Plant in the First Track
Project of the Ministry of Power and
Energy under Paramount-Aggretech
Energy Consortium at the same ratio
i.e. 55% of equity capital in the project
on Build, Own and Operate (BOO)
basis upon getting permission from
the concern authority at Bheramara,
Kushtia/Santahar/Thakurgaon or
any other place in Bangladesh under
Bangladesh Power Development Board
(BPDB). The Board of Directors has also
decided to act as the Lead Member and
contribute 55% on total equity of the
project amongst the members of the
consortium. Contributions of the other
parties will be as follows: Aggretech AG
(as Operating Member): 20% of total
equity, Paramount Holdings Ltd. (as
Other Member-1): 10% of total equity,
Paramount Spinning Ltd. (as Other
Member-2): 15% of total equity. •