The New Nation - Internet Edition

UNB, Dhaka

The Dhaka Stock Exchange (DSE), marked by bearish trend for the 5th consecutive week that ended Thursday, took an alarming turn as mostly the worst performing "Z" category shares emerged as the top gainers of the week.

By contrast, top losers were mostly from the best performing "A" category companies.

"This is alarming," said a stockbroker, who was closely monitoring the topsy-turvy movement of the share prices. "Investors are taking high risk to lift quick profit," he added.

An asset manager said the retail investors have lost confidence over the market as well as control over the volatile price movement only to "wait and see".

During the last week that ended Thursday, the DSE General Index (DGEN), the benchmark index, shed about 81 points or about 3 percent to close at 2,667 points while the All Share Price Index (DSI) declined 67 points or 3 percent to close at 2,211.

The DSE-20 index of selective shares lost 47 points or 2 percent to close at 2,305.

The total turnover during the week shed over 18 percent to Tk 10.72 billion from the previous week's Tk 13.11 billion.

The daily average turnover of the past week also dropped 18 percent to Tk 2.14 billion from Tk 2.62 billion in the previous week.

Market capialisation dropped over 2 percent to Tk 964 billion during the week from Tk 986 billion in the previous week.

Beximco Pharma, Beximco, Titas Gas, ACI Limited, Uttara Bank, Islami Bank, Lankabangla Finance, Square Pharma, Summit Alliance and National Tubes were the turnover leaders of the week.

Eight out of top 10 gainer companies of the week were from the worst performing "Z" category.

They are Rahima Food, Gulf Foods, Dhaka Fisheries, Tulip Dairy, Anlima Yarn, Mona Food, Gachihata Aquaculture and Tamijuddin Textiles.

Modern Dyeing from "B" category and Dhaka Bank from "A" category were also among the top gainers.

On the other hand, eight out of top 10 loser companies were from the best performing "A" category.

They are Atlas Bangladesh, Usmania Glass, United Insurance, Golden Son, Bangladesh Online, Beximco, Apex Weaving and Metro Spinning.

Bangladesh Luggage and Bangladesh Thai Aluminium from "Z" category were also among the top 10 losers.

In the past week, National Tubes recommended 50 percent stock and 25 percent cash dividend, Atlas Bangladesh 100 percent cash, Usmania Glass 60 percent cash, AMCL (PRAN) 28 percent cash, Gemini Sea Food 23 percent cash, BD Plant 12 percent cash, Hill Plant 10 percent cash, Anlima Yarn and Rahima Food 5 percent cash each, and Gulf Foods 4 percent cash dividend.

Berger PBL has announced an interim cash dividend of 50 percent while Dandy Dyeing recommended no dividend.