The price indices on the Dhaka Stock Exchange (DSE) gained Wednesday, as the gaining issues outplyed the losing ones. The trade turnover in terms of both volume and value, however, fell on the day.
The DSE General Index rose by 2.86 points or 0.30 per cent to close at 964.04 points from 961.18 points of the previous day.
The DSE-20 Index went up by 3.17 points or 0.26 per cent to settle at 1221.38 points.
About 0.726 million shares worth Tk 20.14 million changed hands on the day against 0.88 million shares and debentures valued at Tk 31.73 million of the previous trading day.
A total of 154 issues were active on the day including 79 gainers, 41 losers and 34 remaining unchanged.
The total market capitalisation stood at Tk 98.03 billion against Tk 97.74 billion of the previous trading day.
The number of contracts went down to 2152 from 3053 contracts of the previous day.
Islami Bank, Square Textile, Atlas Bangladesh, Beatch Hatchery and Agni Systems contributed significantly to the trade turnover.
Square Textile performed as the top trade turnover leader, in terms of value on the day. Its 32,350 shares valued at Tk 1.39 million were traded in 81 deals. The price of the issue went up by 0.46 per cent to close at Tk 43.20.
Beatch Hatchery performed as the top trade turnover leader, in terms of volume on the day. A total of its 127,000 shares valued at Tk 0.997 million changed hands in 64 contracts on the day. The price of the issue remained unchanged at Tk 7.80 and it varied between Tk 7.80 and Tk 8.00.
Mona Foods was the top gaining issue on the day as its price moved up by 6.17 per cent to close at Tk 21.50. Its 11,100 shares valued at Tk 0.27 million changed hands.
Jute Spinners was the top losing issue on the day as its price fell by 3.41 per cent to close at Tk 198.00. Its ten shares valued at Tk 20,000.00 changed hands.
Islami Bank was a major trade turnover leader, in terms of value on the day with its 416 shares worth Tk 1.12 million being traded. The price of the issue went up by 0.343 per cent to close at Tk 2700.25 on the day.
Agni Systems was a significant performer on the day as its 56,500 shares valued at Tk 0.76 million changed hands in 60 deals. The price of the issue remained unchanged at 13.40.

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The price indices on the Chittagong Stock Exchange (CSE) closed higher Wednesday as the gainers outnumbered the losers. The trade turnover, in terms of both volume and value, decreased on the day.
The CSE All Share Price Index moved up by 0.30 per cent to close at 1604.74 points from 1599.96 points of the previous trading day.
The CSE Selective Index went up by 0.56 per cent to close at 1487.18 points from 1478.85 points of the previous trading day.
A total of 95,608 shares and debentures valued at Tk 2.14 million changed hands on the day.
The total market capitalisation stood at Tk 87.17 billion from Tk 86.96 billion of the previous day.
The number of contracts went down to 212 from 427 contracts of the previous trading day.
A total of 29 issues were traded on the day. Of them, 12 posted gains, 11 lost grounds and six remained unchanged.
Mona Food performed as the top gainer on the day. The price of the issue moved up by 14.86 per cent to close at Tk 21.25 from the previous day''s Tk 18.50. Its 500 shares valued at Tk 10,475.00 changed hands in three deals on the day.
Tallu Spinning was the top losing issue on the day as its price moved down by 10.53 per cent to finish at Tk 85.00 from Tk 95.00. A total of its ten shares valued at Tk 850.00 changed hands in one deal on the day.
Beatch Hatchery performed as the top trade turnover leader, in terms of volume on the day. Its 25,500 shares valued at Tk 209,350.00 were traded. The price of the issue moved up by 1.28 per cent to close at Tk 7.90 from the previous day''s Tk 7.80.
Agni Systems was the top trade turnover leader, in terms of value, on the day. Its price fell by 0.75 per cent at Tk 13.30 from Tk 13.40 . A total of its 17,500 shares worth Tk 235,100.00 were transacted in 16 contracts on the day.
Six issues were active in the banking and finance sector. Among them, two posted gains, one lost ground and three remained unchanged on the day.
Five issues were traded in the foods and allied sector on the day. Of which, three gained and two remained unchanged.

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National Polymer Industries Limited (NPIL) earned a post-tax net profit of taka 0.17 million in the year that ended on June 30, 2003, registering a decrease from that of taka 3.620 million in the corresponding previous year.
Its gross profit declined to taka 36.072 million from taka 37.399 million over the year. Its cost of goods sold went up to taka 149.218 million from taka 142.371 million over the year. This resulted in a higher yearly sales growth of 3.07 per cent with a gross profit of 19.47 per cent in 2002-03 as compared to 20.83 per cent in 2001-02. The turnover of the company stood at taka 185.290 million from taka 179.770 million over the period, according to the company’s latest annual report.
The company owns and operates a PVC pipes and bottle grade PVC compound manufacturing plant, produces and markets the same in to the local market. It is enlisted with the Dhaka Stock Exchange (DSE).
The management of the company said, the reduction in their net profit was largely due to an unexpected rise in the price of raw materials in the international market, localised natural calamities and unequal competition from sub standard products. The increase in the factory operating costs was due to rise in gas-tariff, and electrical sector was another contributing factor that directly affected their operational margin. The company is also optimistic that the general scenario for industrial and commercial operations would continue to improve, as they have continued with their market expansion programme that was evidenced by the appointment of dealers. This commitment includes launching various expansion programs to increase the number of wholesale outlets to better serve the need of their customers with a goal to reduce their operational costs and further improve their gross margin. They are determined to achieve the desired results in the forthcoming year and exert their effort to add value to their investment. The company has taken initiative to introduce new products in order to gain competitive edge over their competitors. The installation of a new machine enables them to produce higher diameter pipes of international standard which has been included as national development programme. The company nevertheless remains committed to sustaining reasonable rates of growth. The company has been able to make further advances by maintaining an exemplary quality assurance system in its manufacturing plants since obtaining its ISO-9001 certificate from TUV, Germany.
The fixed assets of the company increased to taka 49.104 million at the end of June, 2003 from taka 45.778 million at the end of June, 2002. Its total current assets including, inventories, trade debtors, advances, deposits and prepayments, cash and cash equivalents went up to taka 152.983 million from taka 130.398 million over the same period. Its total current liabilities rose to taka 144.648 million from taka 115.268 million during the period.
The total shareholders’ equity of the company went down to taka 40.520 million from taka 43.301 million over the period.
The company issued 134,000 ordinary shares and 134,00 right shares of taka 100.00 each fully paid up in cash. The paid up capital of the company is taka 26.800 million.
Directors of the company owned 34.32 per cent of the shares, financial institutions owned 33.65 per cent of the shares and 32.03 per cent of the shares were held by the general public.
The company has awarded 5.00 per cent dividend to the shareholders for the year under review.

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HONG KONG, Feb 4 (AFP): Asian stock markets were flat to lower Wednesday with many investors sidelined due to the ongoing uncertainty stemming from the bird flu outbreak.
In Japan and South Korea, however, investors were more concerned about the negative impact of the strength of the yen and won against the US dollar, which weighed on exporters.
TOKYO: Japanese share prices closed 1.83 per cent lower on investor concern the yen will remain strong ahead of a Group of Seven meeting.
The broader Topix index of all first section shares slid 20.67 points or 2.0 per cent to 1,022.61.
HONG KONG: Hong Kong share prices closed virtually unchanged after a pick-up in market leader HSBC offset profit-taking in the telecoms and China-related stocks.
The Hang Seng Index closed down 3.28 points 0.03 per cent at 13,086.73.
SYDNEY: Australian share prices closed little changed, with gains in the finance sector offsetting continued weakness in resources.
The SP/ASX 200 index closed up 1.3 points or 0.04 per cent at 3,265.6, while the All Ordinaries index was 2.0 points higher at 3,279.8.
SINGAPORE: Singapore share prices closed 0.57 per cent lower led by falls in bank stocks after Citigroup cut Singapore''s banking sector rating to "underweight".
The Straits Times Index closed down 10.49 points at 1,834.64.
SEOUL: South Korean shares closed lower as foreign investors remained net sellers amid concerns about the negative impact a stronger won will have on exporters and the overall economy.
The composite index closed down 4.37 points or 0.52 per cent at 835.50.
KUALA LUMPUR: Malaysian shares fell 1.72 per cent on a heavy foreign investor sell-off after a long holiday weekend amid continued concerns about the avian influenza outbreak in Asia.
The Kuala Lumpur Stock Exchange composite index lost 14.11 points to 804.83, just off the low of 803.73. The market was closed Monday and Tuesday for public holidays.
TAIPEI: Taiwan shares ended slightly lower in modest trade, with investors cautious on continuing concerns about bird flu and uncertainty in the run-up to the March 20 presidential elections.
The weighted index closed Wednesday down 10.84 points at 6,241.39.
MANILA: Philippine share prices closed mixed as selective bargain hunting emerged after recent sustained losses, led by interest in the telecoms majors, Philippine Long Distance Telephone and Globe Telecom.
The Philippine Stock Exchange composite index rose 3.45 points to 1,441.12.
BOMBAY: Indian stocks leapt 2.42 per cent in what dealers said was a technical correction after falls in the past few trading sessions.
The Bombay Stock Exchange''s 30-share index jumped 135.78 points to close at 5,756.76.
BANGKOK: Thai share prices closed 2.62 per cent higher as investor fears eased over the bird flu outbreak and banking, finance, communications and property stocks were snapped up after recent losses.
The Stock Exchange of Thailand (SET) composite index rose 18.31 points at 718.06 and the blue-chip SET 50 index finished up 1.25 points at 47.53.
JAKARTA: Indonesian share prices closed virtually unchanged as weak regional markets and an exit of foreign investors triggered profit-taking in the afternoon.
The Jakarta Stock Exchange composite index closed down 0.044 points at 730.275.
SHANGHAI: Chinese share prices closed 2.17 per cent higher, extending gains made on hopes for real market reform to see the benchmark Shanghai Composite Index at 17-month highs.
The Shanghai A-share Index rose 37.58 points at 1,766.08 while the Shenzhen A-share Index added 9.16 points or 2.10 per cent to 444.48.

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US government bond prices rose Tuesday after white powder found in the US Senate initially tested positive for the poison ricin, re-awakening concerns about possible terrorist activity.
Meanwhile, Treasuries also received a boost from speculation that the Bank of Japan (BOJ) was once again intervening in the currency markets to weaken the yen against the dollar.
"The ricin story and the dollar intervention story are working the same direction, propping up the front end of the market," one government bond trader said. The BOJ typically invests the dollars it receives from selling yen in US Treasuries.
Still, traders noted that investors were waiting to see if the ricin find was indeed linked to terrorism before aggressively buying government bonds.
The ricin scare drew investors'' attention away from Wednesday''s quarterly debt refunding. Economists expect debt sales this quarter to be larger than forecast after the Treasury said Monday it would need to borrow $177 billion.
At midday, the 10-year note had gained 3/16 to 1011/16 to yield 4.121 per cent and the 30-year bond was up 9/32 to 1067/32 with a yield of 4.965 per cent. The two-year note was 1/16 higher to 1003/16 with a yield of 1.773 per cent.
Prices for short-dated European government bonds outperformed long maturities as news of the ricin discovery drove investors to the relative safety of fixed income.
But activity in the gilt market was muted in the run-up to the Bank of England''s (BoE) interest rate announcement Thursday. Ed Balls, an aide to Chancellor Gordon Brown, said Tuesday there was consensus among policy makers and industrial leaders about a need for higher rates, given accelerating economic growth.
Most economists expect the BoE to raise rates by a quarter-point to 4.0 per cent.
Britain is considering issuing more long-term conventional and index-linked bonds, according to the minutes of Monday''s annual meeting between the debt management office and gilt market makers.

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FRANKFURT, Feb 4 (AFP): BMG, the music publishing arm of German media giant Bertelsmann, managed to return to profit in 2003 thanks to one of the strongest fourth quarters in its history, sources said Wednesday.
The information concurred with a report in the daily Frankfurter Allgemeine Zeitung which said that BMG chairman Rolf Schmidt-Holtz had told employees in an internal letter that "notwithstanding the difficult music market worldwide, BMG was able to achieve an overall profit" in 2003.
The company, which is in the process of merging with Sony Music, put in "one of its strongest fourth-quarter performances in its history," the newspaper quoted Schmidt-Holtz as saying.
A Bertelsmann spokesman declined to comment on the information, noting that the group was scheduled to publish 2003 earnings on March 30.
BMG, the fifth-biggest record label in the world, was in the red in both 2002 and in the first half of 2003 as a result of music piracy and free downloading from the Internet.

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PARIS, Feb 4 (AFP): The French cosmetics group L’Oreal — which owns brands like Lancome, Vichy, Gemey and Biotherm — has touched up its shareholder structure in a move that could give Swiss food giant Nestle a chance to take it over in time.
Its capital and voting rights controlled until now by the holding company Gesparal, L’Oreal will now be directly controlled by two main shareholders.
Lilianne Bettencourt, the 81-year-old daughter of company founder Eugene Schueller will hold 27.5 per cent of L’Oreal’s capital, while Nestle will own 26.4 per cent.
The rest of the company’s shares are expected to become the object of brisk stock market trading.
For L’Oreal, continuity is ensured for now, as Nestle and the Bettencourt family agreed late Tuesday their holdings would not increase “during the lifetime of Bettencourt, and in any case during a period of at least three years”.
If a public offer were made for the company however, both could sell their holdings or make a better offer for outstanding shares according to the agreement.
“Should there be a public tender offer for l’Oreal shares by a third party, the Bettencourt family and Nestle would have the right to tender their shares or to make a counter-offer,” they said in a joint statement.
The cosmetics group is an attractive takeover target, as it is currently capitalised at 40 billion euros ($50 billion) while posting annual sales of $14 billion and profit of almost $2.0 billion.
Bettencourt is regularly listed as France’s richest person, with a personal fortune estimated at 13 billion euros.
Nestle nonetheless remains the best placed to take over the company one day, as it shares the board’s makeup with three representatives to an equal number for the Bettencourt family.

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Akikur Rahman (Folio No 01-000128), sponsor shareholder of the Southeast Bank Limited, has confirmed sell of his 14,155 shares of the bank through Stock Exchange. — CSE Online

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As per un-audited half yearly accounts as on December 31, 03, the Gulf Foods earns net profit of Tk 0.52 million with retained earnings of Tk 2.11 million as against Tk 0.19 million and Tk 2.29 million respectively as on December 31, 02. — DSE Online

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As per un-audited half yearly accounts as on December 31, 03, the Hakkani Pumps incurs net loss of Tk 0.60 million with retained earnigs of Tk (0.60 million) as the company started its commercial operation on November 9, 03. — DSE Online

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As per un-audited half yearly accounts as on December 31, 03, the Kohinoor Chemicals earns net profit of Tk 8.30 million with retained loss of Tk 178.09 million as against profit of Tk 7.98 million and loss of Tk (188.61 million) respectively as on December 31, 02. — DSE Online

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As per un-audited half-yearly financial statements as on December 31, 03, the Mita Textiles Limited earns net profit (after income tax) of Tk 0.20 million. According to the accounts, the earninbg per share (EPS) of the company stood at Tk 0.11. — CSE Online

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As per un-audited half-yearly financial statements of the Mark BD Shilpa & Engineering Ltd. for the period ended December 31, 03, the company incurs net loss of Tk 3.67million. The Loss Per Share (LPS) of the company stood at Tk 0.92. — CSE Online

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As per un-audited half-yearly financial statements of Gulf Foods Ltd. for the period ended December 31, 03, the company earns net profit of Tk 0.52 million. The Earning Per Share (EPS) of the comapny stood at Tk 1.37. — CSE Online

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NEW YORK, Feb 5: Harrah’s Entertainment Inc., the second-largest US casino operator, posted lower fourth-quarter profit Wednesday due to higher gaming taxes and costs associated with developing growth. Net income was $35.4 million, or 32 cents per share, down from $53.9 million, or 48 cents per share, a year earlier. — Reuters

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NEW YORK, Feb 5: Sprint Corp said Wednesday it signed a five-year deal for International Business Machines Co to take over management of the telephone company’s existing vendor operated call centres. Specific terms of the five-year agreement, which the companies called a “multibillion dollar” deal were not disclosed. Sprint said its customer service costs should be reduced by about $550 million over the next three years. — Reuters

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CHICAGO, Feb 5: Fashion designer and retailer Polo Ralph Lauren Corp. reported lower quarterly profit Wednesday due to adjustments in the amount the company reserved for lease terminations. Net income was $35.4 million, or 35 cents per share, for the fiscal third quarter ended December 27, down from $42.8 million, or 43 per share, a year earlier. Excluding restructuring charges and foreign currency gains and losses from certain transactions, profit was 47 cents per share in the latest quarter, matching year-ago results and the average estimate among analysts polled by Reuters Research, a unit of Reuters Group Plc. — Reuters

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WASHINGTON, Feb 4: Cherokee International Corp., which makes power supply products, cut its planned initial public offering (IPO) Wednesday to 6.6 million shares from 7.7 million. In an amended prospectus filed with US securities regulators, the Tustin, California-based company did not change the estimated IPO price of $12 to $14 per share. Cherokee, which sells its products to the computing and storage and medical industrial markets, said it plans to list its shares on Nasdaq under the symbol “CHRK”. According to the amended filing, Cherokee will offer all 6.6 million shares in the IPO. The underwriters, led by Credit Suisse First Boston, have an option to buy up to 990,000 additional shares from selling stockholders to cover over-allotments. The company said it will not receive any proceeds from any sale of stock by stockholders. — Reuters

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WASHINGTON, Feb 4: Pharmaceutical maker SuperGen Inc. filed with US regulators Wednesday to sell up to 9.5 million common shares. William Blair, Needham & Company and Rodman & Renshaw will underwrite the offering, SuperGen said in the Securities and Exchange Commission filing. It said it planned to use the proceeds for commercialising and developing its products, for sales and marketing and other general corporate purposes. A shelf registration gives a company advance regulatory approval to sell securities in one or more separate offerings in amounts, at prices and on terms to be determined at the time of the sale. The company’s shares closed at $10.48 on the Nasdaq Wednesday. — Reuters

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NEW YORK, Feb 4: Wisconsin Energy Corp. said Wednesday it had agreed to sell its Wicor Industries water systems, filtration and pool equipment unit to Pentair Inc. for $850 million, as it focuses on its core energy business. Milwaukee-based Wisconsin Energy said Pentair would also assume about $25 million in debt. After taxes, fees and debt redemption costs, Wisconsin Energy expects to record a gain of 15 cents to 20 cents per share. Wicor Industries, which makes equipment under such names as Sta-Rite and Hypro, had revenue of about $750 million in 2003, the company said. Proceeds from the sale, which is expected to close in the second or third quarter of 2004, will be used to pay down Wisconsin Energy debt, fund the construction of new electricity generating and distribution facilities, and repurchase about $50 million of its common stock. — Reuters

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