Stocks bounced back last week on the back of the regulatory move to relax rules for banks' capital market exposure.

DSEX, the benchmark index of Dhaka Stock Exchange, rose 87.45 points, or 1.93 percent, to close the week at 4,608.32 points.

The central bank's directive relaxing banks' capital market exposure limit acted as a market catalyst, broadening the scope for investment, said IDLC Investments.

From January next year, the banks' capital given to their stockmarket subsidiaries will not be considered a portion of their exposure, Bangladesh Bank said in a notice on December 20.

The news came as a relief to investors who were apprehensive of institutional sales, and the sentiment was reflected in the market, according to IDLC.

However, the market could not maintain the robust gain for the rest of the week due to a lack of encouraging economic and industrial outlook, the merchant bank added.

Turnover averaged Tk 437.35 crore, which was 43.35 percent higher than a week earlier.

Among the major sectors, non-bank financial institutions rose by the most, of 7.06 percent, during the week, followed by ceramics at 3.68 percent, textile 3.06 percent and IT 2.57 percent.

Conversely, mutual funds and pharmaceuticals fell 1.26 percent and 0.36 percent respectively.

Of the 325 issues that traded on the premier bourse, 231 advanced, 65 declined and 29 remained unchanged.

Beximco Pharma topped the week's turnover chart with its transactions of 1.01 crore shares worth Tk 87.08 crore. Quasem Drycells, Beximco, KDS Accessories and Emerald Oil Industries rounded off the top five positions.

Baraka Power was the week's top gainer, registering a 16.85 percent increase. LR Global Mutual Fund One was the biggest loser, registering a drop of 10.14 percent.

Chittagong stocks also soared last week, with the bourse's benchmark index, CSCX, increasing 150.9 points, or 1.79 percent, to finish the week at 8,550.06 points.

Gainers beat losers as 199 advanced and 55 declined, while 18 finished unchanged on the Chittagong Stock Exchange.

The port city bourse traded 4.25 crore shares and mutual fund units worth Tk 159.03 crore in turnover.

Economic Reporter :Dutch-Bangla Bank Ltd. handed over 10,000 pieces of blankets to Bangladesh Bank for distribution among the cold hit poor people in different parts of the country to reduce their sufferings.K.S. Tabrez, Managing Director of Dutch-Bangla Bank handed over a sample of the blankets to S.K. Sur Chowdhury, Deputy Governor of Bangladesh Bank on Sunday  at Bangladesh Bank premises in the city.Mohammad Naushad Ali Chowdhury, Executive Director,  Manoj Kumar Biswas, Genneral Manager of Sustainable Finance Department, A.F.M. Asaduzzaman, General Manager of Governor's Secretariat of Bangladesh Bank along with  Abul Kashem Md. Shirin, Deputy Managing Director of Dutch-Bangla Bank were present on the occasion.Earlier, DBBL Also donated 100,000 pieces of winter blankets to the Prime Minister's Relief Fund for distribution among the poor and elderly people who are suffering in utter distress due to intense spell of cold waves now sweeping through many districts particularly in the northern districts of the country.

Economic Reporter :The Asian Development Bank (ADB) and the Government on Tuesday signed $205 million loan agreements for increasing access to reliable supply of electricity and improving efficiency and capacity of power systems in Bangladesh. The assistance is the third tranche of the $700 million Power System Expansion and Efficiency Improvement Investment Program (PSEEIIP) approved by ADB in 2012. Mohammad Mejbahuddin, Senior Secretary, Economic Relations Division (ERD), and Kazuhiko Higuchi, Country Director, Bangladesh Resident Mission of ADB, signed the agreements on behalf of Bangladesh and ADB respectively, at a ceremony at ERD, Sher-e-Bangla Nagar, Dhaka. ADB assistance under third tranche of the PSEEIIP will help replace aging steam and gas turbine power plants with a more efficient 400 MW gas-fired combined cycle power plant at the Ashuganj Power Station complex. It will also upgrade and construct 72 kilometers of transmission lines, and four substations. Existing analog billing meters will be replaced by 700,000 pre-payment meters in Dhaka Division. "The project will generate 400 MW of electricity, using the same amount of energy that previously produced 220 MW, achieving more than 80% efficiency increase in energy use," said Country Director Kazuhiko Higuchi.

KS Tabrez, Managing Director of Dutch-Bangla Bank Ltd, inaugurating its 155th branch at Panthopath on Tuesday.

ATM Booth of FIRST SECURITY ISLAMI BANK LTD. has been inaugurated at Shah Jalal Complex, 80/A, Shiddishari Circular Road, Romna, Malibagh Mor, Dhaka recently. Mr. Syed Waseque Md. Ali, Managing Director of First Security Islami Bank Limited inaugurated the ATM Booth. Among others, Mr. Quzai Osman Ali, Additional Managing Director, Mr. Md. Shamsul Hoque, Manager, Malibagh Branch, Mr. A.K.M Abu Sagir Chowdhury, Head of General Services Division, Mr. Azam Khan, Head of Marketing, Development & Public Relations Division, Mr. Md. Shamsul Hoque, Manager, Malibag Branch and Local Elites were also present on the occasion.

News:Daily Sun/23-Dec-2015