Dhaka stocks’ rally extends to 5th week

Dhaka stocks continued with gains in the past week to extend the bull run to the fifth week as investors kept injecting funds, especially into the financial scrips, while a some others went for profit taking share sales. The daily average turnover on Dhaka Stock Exchange increased further by 7 per cent to Tk 1,054.33 crore in the last week from Tk 985.12 crore in the previous week. DSEX, the key index of DSE, advanced 0.49 per cent, or 28.27 points, to close at 5,7825.57 points on Thursday, the last trading session of the week. The DSEX gained 573.72 points in the last five weeks. The market advanced in another week as a prolong rise in it provoked investors to make new investments at the market. The surge, however, was capped as many investors went for profit taking share sales over the week after their recent gains. According to EBL securities weekly market commentary the capital bourse of the country witnessed positive movement in the first three sessions of the week but it went into red zone in the last two sessions amid profit booking tendency among investors. During the week, investors opted for profit booking on shares that witnessed price appreciation in the recent upbeat momentum while some took positions in fundamental stocks ahead of earnings declarations. The financial sector led the surge for another week with a gain in share prices of non-bank financial institutions and bank by 2.6 per cent and 0.7 per cent respectively, stockbrokers said. Average share prices of insurance sector continued to surge for the third consecutive week.

Source: http://www.newagebd.net/article/62310/dhaka-stocks-rally-extends-to-5th-week

Khulna Power, BBS Cables dominate weekly turnover chart

Top 10 market leaders grabbed 18.61 per cent of total market turnover observed in five sessions of last week. Dhaka Stock Exchange (DSE) featured a turnover of above Tk 52.71 billion in last week. Of total market turnover, above 9.81 billion came transactions of the shares of top 10 companies. Khulna Power Company topped the chart of weekly turnover leaders. The company posted a turnover of above Tk 1.71 billion and grabbed 3.25 per cent of total market turnover. The company’s share price closed at Tk 64.80 each on Thursday. The closing price of the previous week was Tk 65.30 each. BBS Cables featured a turnover of above Tk 1.32 billion in last week and grabbed 2.51 per cent of total market turnover. The company’s share price declined to Tk 108 each on Thursday from Tk 110.60, the closing price of previous week. Olympic Industries grabbed 2.40 per cent of total market turnover after featuring a turnover of above Tk 1.26 billion in five sessions of last week. The company’s share price closed at Tk 255.70 each on Thursday. The closing price of the shares of company was Tk 258.40 each in previous week. JMI Syringes & Medical Devices posted a turnover of above Tk 859.32 million in last week and grabbed 1.63 per cent of the market turnover. The company’s share price rose 19 per cent to close at Tk 463 in five sessions of last week.

Source: http://today.thefinancialexpress.com.bd/stock-corporate/khulna-power-bbs-cables-dominate-weekly-turnover-chart-1547913169

Largest private economic zone to be ready this year

The country’s largest private economic zone, Sirajganj Economic Zone Ltd (SEZL), may open for entrepreneurs within this year. The zone’s director expects that we will be able to allot the plots of the zone within December this year or the first half of next year at maximum. The zone is expected to create employment opportunities for five lakh people and bring in over $2 billion in investments. Its architectural layout designates space for 400 industries. The SEZL spent Tk 350 crore to acquire 1,035.93 acres of land, which was now being readied and levelled with sand. Its physical infrastructure is also being developed, one being through the ongoing construction of a jetty. Other facilities include dormitories and housing of five-star or equivalent standards for workers, one-stop administrative and logistic amenities, health and day care centres and technical institutions. The zone will have its own means of sourcing water and will generate steam through a dedicated plant. It will very soon start setting up a 300-MW power plant for uninterrupted electricity supply while availing natural gas from the government. The SEZL will dispose of its industrial waste through a common effluent treatment plant (CETP) characterised by zero discharge.

Source: https://www.thedailystar.net/business/economy/news/largest-private-economic-zone-be-ready-year-1690039