WEEKLY MARKET SYNOPSIS of DHAKA STOCK

January 29, 2015
[WEEKLY MARKET SYNOPSIS OF DHAKA STOCK EXCHANGE]
WEEKLY INDEX (DSEX)
4950
4900
4850
4800
4750
4700
4650
4600
1
2
3
4
5
Series1
4716.76186
4708.33448
4757.10193
4747.63694
4724.04933
Series2
4917.3752
4867.08477
4856.94857
4783.21231
4797.9551
PARTICULARS
DSEX(Current week)
DSEX(Previous week)
NOMINAL CHANGE
-73.90577
% CHANGE
-1.54%
WEEKLY INDEX (DSES)
1170
1160
1150
1140
1130
1120
1110
1100
1090
1080
1
2
3
4
5
Series1
1113.84465
1110.52464
1124.17202
1122.32489
1115.69606
Series2
1162.46447
1153.27304
1150.35958
1134.3562
1136.33802
PARTICULARS
DSES(Current week)
DSES(Previous week)
NOMINAL CHANGE
-20.64196
% CHANGE
-1.82%
1
| All the information contained herein is based on published material. Empire Capital reserves the right of copyright on its
organic research and indemnifies itself from the accuracy or interpretation of the information contained in this material. Investor
discretion is advised in the interpretation of this analysis. Generally stock market prices are subject to market risks. Any
feedback, comments and/or suggestions can be sent to empirecapital.bd@gmail.com
January 29, 2015
[WEEKLY MARKET SYNOPSIS OF DHAKA STOCK EXCHANGE]
WEEKLY INDEX (DS30)
1840
1820
1800
1780
1760
1740
1720
1700
1680
1
2
3
4
5
Series1
1745.80863
1736.36261
1755.53465
1756.80991
1747.75509
Series2
1820.70352
1803.63172
1802.07395
1774.77209
1778.80327
PARTICULARS
DS30(Current week)
DS30(Previous week)
NOMINAL CHANGE
-31.04818
% CHANGE
-1.75%
2
| All the information contained herein is based on published material. Empire Capital reserves the right of copyright on its
organic research and indemnifies itself from the accuracy or interpretation of the information contained in this material. Investor
discretion is advised in the interpretation of this analysis. Generally stock market prices are subject to market risks. Any
feedback, comments and/or suggestions can be sent to empirecapital.bd@gmail.com
January 29, 2015
Name of the Sector
Bank
Cement
Ceramic
Engineering
Financial Institutions
Food & Allied
Fuel and Power
Insurance
IT Sector
Jute
Miscellaneous
Pharma & Chemicals
Service & Real Estate
Tannery
Telecommunication
Textile
Travel & Leisure
Paper and Printing
TOTAL
Total Weekly Turnover Previous week turnover % change turnover Market Cap.(22nd January) Market Cap.(29th January) % change of MC Indicator
1334.70
1564.49
-14.69%
406,323,097,739
403,094,677,831
-0.79% BULLISH
450.94
613.17
-26.46%
200,575,200,730
197,832,526,832
-1.37% BULLISH
160.64
119.15
34.83%
22,672,724,711
22,435,286,524
-1.05% BEARISH
1438.82
1939.59
-25.82%
104,012,812,935
100,536,197,238
-3.34% BULLISH
1028.08
1183.12
-13.10%
138,483,344,818
137,619,329,627
-0.62% BULLISH
458.31
612.65
-25.19%
232,343,189,994
240,418,839,865
3.48% BEARISH
1714.52
1902.47
-9.88%
321,285,790,433
313,278,675,824
-2.49% BULLISH
225.12
284.25
-20.80%
80,713,162,595
79,321,205,009
-1.72% BULLISH
490.09
515.97
-5.02%
5,897,737,745
5,849,757,247
-0.81% BULLISH
16.19
16.96
-4.51%
836,697,200
802,874,300
-4.04% BULLISH
602.33
1076.32
-44.04%
60,675,033,399
59,878,196,530
-1.31% BULLISH
1228.67
1537.81
-20.10%
326,839,100,248
325,548,551,942
-0.39% BULLISH
562.31
598.45
-6.04%
20,786,659,724
19,868,967,241
-4.41% BULLISH
52.50
90.07
-41.71%
23,650,784,250
23,666,829,732
0.07% BEARISH
548.80
503.62
8.97%
485,706,212,294
461,024,416,965
-5.08% BEARISH
2165.37
2569.58
-15.73%
83,772,864,262
81,838,640,394
-2.31% BULLISH
129.46
172.29
-24.86%
27,469,295,241
26,814,327,721
-2.38% BULLISH
56.32
88.79
-37%
499,700,000
476,900,000
-4.56% BULLISH
12663.18
3
[WEEKLY MARKET SYNOPSIS OF DHAKA STOCK EXCHANGE]
15388.75
-17.71%
2,542,543,408,316
2,500,306,200,821
-1.66%
BULLISH
| All the information contained herein is based on published material. Empire Capital reserves the right of copyright on its
organic research and indemnifies itself from the accuracy or interpretation of the information contained in this material. Investor
discretion is advised in the interpretation of this analysis. Generally stock market prices are subject to market risks. Any
feedback, comments and/or suggestions can be sent to empirecapital.bd@gmail.com
January 29, 2015
[WEEKLY MARKET SYNOPSIS OF DHAKA STOCK EXCHANGE]
MAJOR NEWS OF THE WEEK (25.1.2015 TO 29.01.2015)
Please click on the news headings to find out more
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4
Banks barred from sacking CEOs sans BB sanction
Two leading buyers warn of business cut with Azim Group
New co to manage import, usage of LNG
Dhaka Central Jail to be relocated by June: PM
BRAC Bank gets largest int'l syndicated loan
MoF advises BSEC to protect investors' interest
CSE turnover jumps 217pc on commission charge cut
ECNEC okays Tk 65.04b rly project with luxury cars purchase inset
Big companies urged to spend more on CSR
OPEC won't cut output even at $20 a barrel: Saudi
Slow progress earns WB dissatisfaction
Non-elected people can't run democratic country: Speaker
Minister firm on relocating tanneries to Savar by April
100mw electricity for BD from Palatana soon
Amended companies act to be more business-friendly: Commerce minister
Investors' rights not well-protected in listed companies
Restive politics forces units to throttle back production
China real estate loans see rapid growth
Political unrest dilutes move to buoy up investment activity
102pc gas tariff hike move opposed
BERC body rejects plea for power price hike
Political troubles impede execution of dev projects
Metro Rail to be launched in 2019
Stocks see significant fall amid political unrest
Almost all cos complete the process of face value conversion
Saif Powertec donates Tk 1.0m to DMCH
Car sales crash as business bears brunt of blockade
Janata asked to whittle down troubled loans
BD for boosting trade among member states
Facilitating border traffic more crucial than revenue collection
RMG sector suffers 25pc output loss due to blockade
BD's apparel exports to US decline by 5.18pc
Govt approves buying 6 BSC vessels with China's money
Blockade takes toll on jute spinners
Cash incentives on some export items to be cut from next FY
BB buys $ 11m from 2 commercial banks
Trading of all kinds of treasury bonds allowed
Govt pays Tk 45.72b as interest against savings instruments
BSEC to formulate 'commodity exchange' rules
| All the information contained herein is based on published material. Empire Capital reserves the right of copyright on its
organic research and indemnifies itself from the accuracy or interpretation of the information contained in this material. Investor
discretion is advised in the interpretation of this analysis. Generally stock market prices are subject to market risks. Any
feedback, comments and/or suggestions can be sent to empirecapital.bd@gmail.com
January 29, 2015
[WEEKLY MARKET SYNOPSIS OF DHAKA STOCK EXCHANGE]
Name of the listed companies (Top Gainers of the week)
SECTOR
Category CP as on 22.01.2015
AZIZPIPES( Aziz Pipes )
ENGINEERING
Z
18.5
CP as on 29.01.2015 % Change
21.3
15.14%
BSCCL( Bangladesh Submarine Cable Company Limited )
TELECOMMUNICATION
A
98.2
109.2
11.20%
FAREASTLIF( Fareast Islami Life Insurance Co. Ltd. )
LIFE INSURANCE
A
71.9
76.9
6.95%
MONNOSTAF( Monno Jute Staf lers )
ENGINEERING
A
284
302.5
6.51%
BATBC( BATBC )
FOOD AND ALLIED
A
2775.6
2934.4
5.72%
KOHINOOR( Kohinoor Chemicals )
PHARMA AND CHEMICALS
A
332.3
348.9
5.00%
FAREASTFIN( Fareast Finance & Investment Limited )
FINANCIAL INSTITUTIONS
N
16.2
17
4.94%
FEKDIL( Far East Knit ing & Dyeing Industries Limited )
TEXTILE
N
24.3
25.5
4.94%
NPOLYMAR( National Poly mer )
ENGINEERING
A
66.1
69.3
4.84%
PRIMEBANK( Prime Bank )
BANK
A
18.5
19.3
4.32%
Name of the listed companies (Top Losers of the week)
SECTOR
Category CP as on 22.01.2015
SHYAMPSUG( Shyampur Sugar Mil s Ltd. )
FOOD AND ALLIED
A
GSPFINANCE( GSP Finance Company (Bangladesh) Limited )
FINANCIAL INSTITUTIONS
USMANIAGL( Usmania Glass )
MISCELLENEOUS
NTLTUBES( National Tubes )
CP as on 29.01.2015 % Change
9.2
8
-13.04%
A
31.5
27.7
-12.06%
A
112.3
99.1
-11.75%
ENGINEERING
A
107.1
95.2
-11.11%
MODERNDYE( Modern Dyeing & Screen Printing Ltd. )
TEXTILE
B
104.9
95
-9.44%
MERCINS( Mercantile Insurance Co. Ltd. )
GENERAL INSURANCE
A
16.8
15.3
-8.93%
QSMDRYCELL( Quasem Drycells )
ENGINEERING
A
63
57.4
-8.89%
BIFC( Bangladesh Industrial Fin. Co. Ltd. )
FINANCIAL INSTITUTIONS
A
15.9
14.5
-8.81%
ALLTEX( Alltex Industries Ltd. )
TEXTILE
Z
31.8
29
-8.81%
PRIMELIFE( Prime Islami Life Insurance Ltd. )
LIFE INSURANCE
A
62.3
57.2
-8.19%
Column1
Name
Top 10 Companies by turnover for this Week
Column2
Category
C & A Textiles Limited
N
781,202,000
30796442
7.2
-4.2
Grameenphone Ltd.
A
362,876,000
1088801
3.34
-5.59
Lafarge Surma Cement
Z
337,175,000
2739604
3.11
-1.19
Alltex Industries Ltd.
A
307,797,000
9798862
2.84
-8.81
CVO Petrochemical Refinery Limited
B
295,246,000
566620
2.72
-1.92
GSP Finance Company (BD) Ltd.
A
271,496,000
8756731
2.5
-12.06
Summit Alliance Port Limited
A
266,642,000
4214781
2.46
-5.15
DESCO
A
235,736,000
3440276
2.17
-0.29
National Feed Mill Limited
N
226,921,000
6728147
2.09
-15.14
BRAC Bank
A
0
Total
5
Column3
Turnover in Tk.
Column4
Turnover
in Vol
Column5
% of
total TRN
Column6
% of
change
206,298,000
5181120
1.9
3,291,389,000
73311384
30.33
| All the information contained herein is based on published material. Empire Capital reserves the right of copyright on its
organic research and indemnifies itself from the accuracy or interpretation of the information contained in this material. Investor
discretion is advised in the interpretation of this analysis. Generally stock market prices are subject to market risks. Any
feedback, comments and/or suggestions can be sent to empirecapital.bd@gmail.com
January 29, 2015
[WEEKLY MARKET SYNOPSIS OF DHAKA STOCK EXCHANGE]
TOP TEN CHEAPEST STOCK BASED ON FORW ARD PE RELATI VE TO SECTORAL PE
NAME OF T HE COMPANY
CMCKAMAL( CMC Kamal )
QSMDRYCELL( Quasem Dry cells )
BATBC( BATBC )
ORIONINFU( Orion Infusion Ltd. )
PADMAOIL( Padma Oil Co. )
METROSPIN( Metro Spinning
GP( Grameenphone Ltd. )
BATASHOE( Bata Shoe )
PRIMEINSUR( PRIME INSURACE )
NPOLYMAR( National Poly mer )
Realtive to Sector PE most undervalued stocks
Column1
BANK
CEMENT
EBL( Eastern Bank )
PREMIERCEM( Premier Cement Mills Limited )
EXIMBANK( Export Import (Exim) Bank of Bangladesh )
HEIDELBCEM( Heidelberg Cement Bd. )
FIRSTSBANK( First Security Islami Bank Limited )
MEGHNACEM( Meghna Cement )
CERAMIC
ENGINEERING
RAKCERAMIC( RAK Ceramics (Bangladesh) Limited )
NPOLYMAR( National Polymer )
FUWANGCER( Fu-Wang Ceramic )
BSRMSTEEL( BSRM Steels Limited )
GOLDENSON( Golden Son Ltd. )
FINANCIAL INSTITUITION
FOOD AND ALLIED
ISLAMICFIN( Islamic Finance & Investment Ltd. )
BATBC( BATBC )
BDFINANCE( Bangladesh Finance and Investment Co.Ltd )
APEXFOODS( Apex Foods )
FASFIN( FAS Finance & Investment Limited )
RDFOOD( Rangpur Dairy & Food Products Ltd. )
FUEL AND POWER
GENERAL INSURANCE
PADMAOIL( Padma Oil Co. )
PRIMEINSUR( PRIME INSURACE )
SPPCL (Summit Purbanchol Power Company Limited )
MERCINS( Mercantile Insurance Co. Ltd. )
BEDL( Barakatullah Electro Dynamics Ltd. )
SONARBAINS( Sonar Bangla Insurance Ltd. )
IT SECTOR
MISCELLANEOUS
BDCOM( BDCOM Online Ltd. )
BERGERPBL( Berger Paints Bangladesh Ltd. )
DAFODILCOM( Daffodil Computers Ltd. )
SINOBANGLA( Sinobangla Industries )
INTECH( In Tech Online Ltd. )
ARAMIT( Aramit )
PHARMA AND CHEMICALS
SERVICE AND REAL ESTATE
MARICO( Marico Bangladesh Limited )
SAMORITA( Samorita Hospital )
ACTIVEFINE( Active Fine Chemicals Limited )
EHL( Eastern Housing )
SALVOCHEM( Salvo Chemical Industry Limited )
TANNERY
TELECOMMUNICATION
APEXADELFT( Apex Adelchi Footwear Ltd. )
GP( Grameenphone Ltd. )
BATASHOE( Bata Shoe )
TEXTILE
TRAVEL AND LEISURE
RNSPIN( R.N. Spinning Mills Limited )
BDSERVICE( Bangladesh Services Ltd. )
SAIHAMCOT( Saiham Cotton Mills Limited )
UNITEDAIR( United Airways (BD) Ltd.
PTL( Paramount Textile Limited )
6
| All the information contained herein is based on published material. Empire Capital reserves the right of copyright on its
organic research and indemnifies itself from the accuracy or interpretation of the information contained in this material. Investor
discretion is advised in the interpretation of this analysis. Generally stock market prices are subject to market risks. Any
feedback, comments and/or suggestions can be sent to empirecapital.bd@gmail.com
January 29, 2015
TOP TURNOVER COMPANIES % OF SCRIP FREE FLOAT
Name
[WEEKLY MARKET SYNOPSIS OF DHAKA STOCK EXCHANGE]
Column1
Turnover in Tk.
Column2
Previous week CP
Column3
Column4
This week CP Price change
Column5
% of scrip free float of market cap.
C & A Textiles Limited
781,202,000
Grameenphone Ltd.
362,876,000
348.80
329.30
-5.59%
Lafarge Surma Cement
337,175,000
126.00
125.70
-0.24%
0.74
Alltex Industries Ltd.
307,797,000
31.80
30.09
-5.38%
36.21
CVO Petrochemical Refinery Limited
295,246,000
517.70
500.90
-3.25%
8.79
GSP Finance Company (BD) Ltd.
271,496,000
32.04
27.70
-13.55%
39.66
Summit Alliance Port Limited
266,642,000
66.00
62.60
-5.15%
5.97
DESCO
235,736,000
69.94
68.30
National Feed Mil Limited
226,921,000
BRAC Bank
206,298,000
25.10
31.40
39.50
39.50
#DIV/0!
76.86
0.75
-2.34%
#DIV/0!
4.65
44.60
0.00%
2.36
Weekly View:
Market is on the support zone as per the expectation. Last week, we said market may get support on
4650 to 4700. Market retained that level and closed at 4724. It is a good sign. In longer view market is on
nice up channel. There is a good probability to bounce back from here and we may see up spike. For this
we need confirmation. If this level is broken then the scenario will be very bad. Next support level is 4450
to 4550 and resistance 4950. Let’s hope for the best.
Wishing You All Happy Trading and Investing.
7
| All the information contained herein is based on published material. Empire Capital reserves the right of copyright on its
organic research and indemnifies itself from the accuracy or interpretation of the information contained in this material. Investor
discretion is advised in the interpretation of this analysis. Generally stock market prices are subject to market risks. Any
feedback, comments and/or suggestions can be sent to empirecapital.bd@gmail.com
January 29, 2015
[WEEKLY MARKET SYNOPSIS OF DHAKA STOCK EXCHANGE]
NOTES
DSE Indices as per „DSE Bangladesh Index Methodology‟ designed and developed by S&P Dow Jones Indices Dhaka Stock Exchange Indices
The Dhaka Stock Exchange presently computes two indices, DSE Broad Index (DSEX) and DSE 30 Index (DS30). None of the DSE Indi ces
include mutual funds, debentures and bonds. DSEX and DS30 Index
Introduction of DSE Indices
The Dhaka Stock Exchange Limited introduced DSE Broad Index (“DSEX”) and DSE 30 Index (“DS30”) as per „DSE Bangladesh Index
Methodology‟ designed and developed by S&P Dow Jones Indices with effect from January 28, 2013.” DSEX” is the Broad Index of the
Exchange (Benchmark Index) which reflects around 97% of the total equity market capitalization.DS30 constructed with 30 leading companies
which can be said as investable Index of the Exchange. “DS30” reflects around 51% of the total equity market capitalization. The criteria taken
into consideration in construction of these Indices are:
Market Capitalization
DS30 - Eligible stocks must have a float-adjusted market capitalization above 500 million BDT as of the rebalancing reference date.
DSEX - Eligible stocks must have a float-adjusted market capitalization above 100 million BDT. Additionally, if a current index constituent falls
below the 100 million BDT threshold, but is no less than 70 million BDT, then the stock remains in the index provided it also meets the other
inclusion criteria.
Float-Adjustment: A stock‟s weight in an index is determined by its float-adjusted market capitalization.
Liquidity
DS30- Stocks must have a minimum three-month average daily value traded (ADVT) of 5 million BDT as of the rebalancing reference date.
Liquidity criteria can be reduced to 3 million BDT in certain circumstance to ensure there are enough constituents in the ind ex. At each semiannual rebalancing, if a current index constituent falls below 5 million BDT but is no less than 3 million BDT then the stock remains in the index
provided it also meets the other eligibility criteria.
DSEX - Stocks must have a minimum six-month ADVT of 1 million BDT as of the rebalancing reference date. At each annual rebalancing, if a
current index constituent falls below 1 million BDT, but is no less than 0.7 million BDT, then the stock remains in the index provided it also
meets the other eligibility criteria. In addition, all eligible stocks for the DSE indices are required to trade at least half of normal trading days
each month for the three months prior to the rebalancing reference date.
Financial Viability
DS30 - Stocks must be profitable as measured by positive net income over the latest 12-month period, as of the rebalancing reference date. The
figure is calculated by adding the latest four quarters of net income reported for the company.
DSEX - Financial viability is not required for index membership.
Sector Classification
All listed DSE stocks are classified according to the DSE Industry Classification system. The number of constituents in Banks, Financial
Institutions, Insurance sector and Real Estate Sub-sector of Service & Real Estate sector is capped at 5 each and 10 combined for the DS30
Index.
Sector diversification rule is not applied to the DSEX.
Base Date
The base dates of the DSE 30 Index (DS30) and The DSE Broad Index (DSEX) are January 17, 2008.
Base Value
DSE 30 Index (DS30): The base value is 1000 for DS30 Index. The DSE Broad Index (DSEX): The DSE Broad index has a base value of 2951.91 on
Jan 17th 2008 which was the index value of the DSE General Index on this date. The new index is a broad market index and is d esigned to refect
the broad market performance. Starting the base value at 2951.91 the performance of the two indices has been linked and we maintain the
continuity of the performance of the benchmark. The two indices are very close in design and we can build on the history of the older index
which goes back to 2001.
8
| All the information contained herein is based on published material. Empire Capital reserves the right of copyright on its
organic research and indemnifies itself from the accuracy or interpretation of the information contained in this material. Investor
discretion is advised in the interpretation of this analysis. Generally stock market prices are subject to market risks. Any
feedback, comments and/or suggestions can be sent to empirecapital.bd@gmail.com
January 29, 2015
[WEEKLY MARKET SYNOPSIS OF DHAKA STOCK EXCHANGE]
“Interim IPO additions to the DSE Broad Index
(DSEX) take place quarterly on the third Thursday of April, July and October. To be considered eligible for inclusion, an IPO must fall within the
top half of the ranked companies, by float-adjusted market capitalization and have at least one month of sufficient liquidity at each quarterly
observation date”. After ranking the companies in accordance with “DSE Bangladesh Index Methodology” designed &developed by S&P Dow
Jones Indices, following one (1) company was qualified for inclusion in the DSEX with effect from October 20, 2013.
1 Familytex (BD) Limited
As a result, the total numbers of constituents in DSEX stands at 207 (Two Hundred and Seven).
On January 16, 2014 new 23 companies were included to the DSEX and existing 4 companies were excluded. The new 23 companies that were
included to the DSEX are Fareast Finance, Eastern Cables, Renwick Jajneswar, National Tubes, Bengal Windsor Thermoplastics, B angladesh
Building Systems, AMCL (Pran), Rahim Textile, Ambee Pharma, The Ibn Sina, Libra Infusions, Global Heavy Chemicals, JMI Syring es & Medical
Devices, Central Pharmaceuticals, Hakkani Pulp & Paper, Samorita Hospital, Information Services Network, Purabi General Insurance, Pragati
Insurance, Prime Insurance, Sunlife Insurance, Usmania Glass and Berger Paints. On the other hand, existing four companies th at lost their
eligibility to retain their position in the index are Kay & Que, Midas Finance, CVO Petrochemical and Rahima Food. As a result, the total
numbers of constituents in DSEX stands at 226 (Two Hundred and twenty Six).
Similarly on January 16, 2014 in the DS30, four new companies were added to the index. They are United Commercial Bank Ltd., Delta Life
Insurance Ltd, Orion Pharma Ltd and Renata Ltd.
The existing four companies that were excluded from the index are Beximco Ltd, Khulna Power Company Ltd, Square Textiles Ltd and
Southeast Bank Ltd as they failed to meet their criteria to stay in the index.
9
| All the information contained herein is based on published material. Empire Capital reserves the right of copyright on its
organic research and indemnifies itself from the accuracy or interpretation of the information contained in this material. Investor
discretion is advised in the interpretation of this analysis. Generally stock market prices are subject to market risks. Any
feedback, comments and/or suggestions can be sent to empirecapital.bd@gmail.com