The New Nation - Internet Edition

Staff Reporter

The Dhaka Stock Exchange (DSE) has continued to create new record during last trading week. Successfully following the previous week's session, all three Index in DSE on Thursday, closed their trading with moderate gains.

With additional 73 points, the DSE general index closed trading session for the week with record-breaking 3013 points, raising 2.48 per cent within a week.

Alike the previous week, shares of Banking and Insurance played major role in last week. These were normal year ending phenomena, as their yearly announcements are likely to be announced by coming December, said experts related to the Index Market.

Rumors about government's instructions to increase 'Paid up Capitals' in Insurance business, has attracted traders towards their shares. "It is however expected that the insurance companies would announce higher dividends this year," said experts while talking to the New Nation.

"Shares of Oil sector successfully joined in forward moves this week, following the Banks and Insurance," said Kazi Mansur Al Mannan from the LankaBangla finance. According to him, possible announcement of two government owned petroleum shares in market, namely the Meghna Oil and Jamuna Oil, has fuelled existing petroleum companies' shares in the market. Both the companies are expected to announce their market contribution through direct listing, within this month.

Regarding current higher market position, experts termed it sustainable, but might take in minor corrections by the beginning of next trading week. "For a equity market with over 70,000 crore market capitalization, Index level around 3,000 points is normal and likely to sustain," said market analyst Kazi Mansur Al Mannan. He, however, predicted a slower beginning in next trading week. "It is normal for the market trading, particularly after two consecutive weeks of gain," said the expert.

According to the weekly DSE announcement, the General Index opened trading week with 2940.15 points. The Index gained 104 points during the previous week's trading.

On the other hand, the DSE 20 Index gained total 73.33 points, closing the week at 2325.54 points. The Index was over 3.26 per cent at its closing from the week opening 2252.21 points.

Total 2.22 per cent growth was recorded in the DSE All Share Price Index, while it closed at 2549.34 points at the end of trading week. The Index opened business with 2494.01 points level and successfully closed with a net gain of 55.33 points.

At the weekend on Thursday (15th November 2007) total 7.26 crore shares from 280 companies were traded throughout the week, turning a trading volume of Tk 1226.74 crore. Within a week time, total turnover raised by 43.47 per cent as reported.

However, the DSE opened with total Market Capitalization of Tk 71344.07 crore and closed the trading week with Tk 72906.29 crore. The closing figure was 2.19 per cent higher than the opening.