Asian Tiger Capital Partners market update on DSE

Mar 8, 2011 Overview: The DGEN went up by 4.69% to close at 6051.11 points. The total transaction was worth BDT 9.64 bn. Price of 243 Issues appreciated whereas 11 Issues declined and 3 others remained Events: The benchmark Index DGEN ended in the green for the fourth consecutive session posting a gain of 4.69%. Investor sentiment has certainly taken a U-turn as evident from last few days trading. Market opened on a slightly negative note with hint of profit taking following three days of rise but overwhelming buy pressure led another sharp rally as the Index crossed the 6000 point mark and finished the day on 6051 points. Total transaction amounted to BDT 9.64bn, 17.33% greater than previous day. The higher transaction amount is a testimony of improved market confidence and greater strength as traders who were probably waiting in the sidelines with cash went long aggressively. All sectors ended in the green zone as market witnessed buying pressure all across the board. Heavy weight banking sector gained 4.4% with Eastern Bank Limited gaining 10% and ending as the highest gainer of the day. NBFI, Insurance & Fuel and Power sector gained 4.8%, 6.4% and 4.6% respectively. Other prominent sectors like Pharma, Textile and Cement sector gained 3.4%, 4.5% and 4.5% respectively. Travel and Leisure sector was the top gaining sector of the day as United Air gained 9.3% to close at BDT 51.9.