The New Nation - Internet Edition

UNB, Dhaka

After showing a bearish trend for two consecutive weeks, the Dhaka Stock Exchange (DSE) bounced back amid increased turnover this week ended Thursday.

The week's trading also began with a depressed mood, but finished with an upbeat one with the increasing turnover due to easing of the margin loan provision through a clarification by the Securities and Exchange Commission (SEC).

Brokers said the clarification on simplifying the margin rules contributed to the increased turnover while the announcement of offloading government shares of four companies sent out a positive signal to the market, regaining the momentum.

They said opening up of subscription for Delta-Brac Housing Limited IPOs on March 2 and the possibility of giving approval to the second scheme of Grameen Mutual Fund also gave a positive signal to the market.

This week the total turnover rose by 30 percent to Tk 8.47 billion from the previous week's Tk 6.53 billion while the turnover in terms of volume increased by 21 percent to 54 million from 45 million in the previous week.

The daily average turnover of the week was also up 4 percent to Tk 1.69 billion from Tk 1.63 billion. The benchmark index (DGEN) gained 91 points or 3 percent to close at 2931 points. In the previous week, it dropped 129 points or 4 percent to close at 2,840 points.

Market capitalisation grew by 2.5 percent to Tk 804 billion from Tk 784 billion at the closing of the previous week.

The top gainers of the week were Renwick Jajneswar, Shyampur Sugar, Libra Infusion, Zeal Bangla Sugar, Rahim Textile, Padma Oil, Eastern Lubricants, Usmania Glass, National Tea and Eastern Cables.

The top losers were Maq Enterprise, Paper Processing, BD Zipper, Rangamati Food, BCIL, Maq Paper, M Hossain garments, Bengal Biscuits, Kay & Que, and Purabi General Insurance.

AB Bank, Jamuna Oil, Meghna Petroleum, UCBL, Grameen One, IFIC Bank, Uttara Bank, Dutch-Bangla Bank, Summit Power and National Bank were the turnover leaders of the week.