Benchmark index hits all-time high
Wednesday, 2 June 2010
FE Report
Dhaka stocks rose almost one per cent Tuesday, pushing the benchmark index to an all time high driven by fuel and power stocks.
The DSE General Index (DGEN), the main gauge of the market, surged by 0.72 per cent or 44.57 points to close at 6152.38, outpacing previous all time high of 6,108.50 set just two sessions back.
The broader All Shares
Price Index (DSI) was up by 0.74 per cent or 37.35 points to 5,067.41. The DSE 20 index comprising blue chip shares ended at 3,424.82 with a loss of 0.21 per cent or 7.40 points.
Fuel and power sector continued to dominate the market for the third straight session anticipating that the government might give special focus on power sector in the upcoming budget, dealers said.
Fuel and power or energy sector advanced 3.38 per cent after 1.48 per cent and 2.0 per cent rise in the previous two sessions.
Jamuna Oil was the largest gainer posting a rise of 15.72 per cent, followed by Meghna Petroleum 9.34 per cent, Padma Oil 5.81 per cent and Titas Gas 1.81 per cent.
Hoopla over banking sector on stock-split issue eased as the sector shed 1.58 per cent on profit taking, following 1.12 per cent decline in the previous session.
"Telecommunications and energy stocks have taken the market to a new height," said RACE, an asset management company, in its daily market commentary.
After banks, investors run after fuel and power stocks in anticipation of positive budgetary measure in power sector to improve the nagging crisis facing the country since long, said a stockbroker.
Grameenphone, the lone listed company in telecommunications sector and most weighted shares in DSE, was back into the gear, reversing the fifth successive session fall. The telecom company closed 1.70 per cent higher to Tk 281.
Textile sector edged 2.70 per cent higher riding on Bextex and Square Textile that rose 5.80 per cent and 1.88 per cent respectively.
Leasing or non-banking financial institutions (NBFIs) gained marginally 0.49 per cent, mutual funds 0.94 per cent and life insurers 0.97 per cent. Pharmaceuticals ended flat while general insurers lost 0.24 per cent.
Dhaka stocks rose almost one per cent Tuesday, pushing the benchmark index to an all time high driven by fuel and power stocks.
The DSE General Index (DGEN), the main gauge of the market, surged by 0.72 per cent or 44.57 points to close at 6152.38, outpacing previous all time high of 6,108.50 set just two sessions back.
The broader All Shares
Price Index (DSI) was up by 0.74 per cent or 37.35 points to 5,067.41. The DSE 20 index comprising blue chip shares ended at 3,424.82 with a loss of 0.21 per cent or 7.40 points.
Fuel and power sector continued to dominate the market for the third straight session anticipating that the government might give special focus on power sector in the upcoming budget, dealers said.
Fuel and power or energy sector advanced 3.38 per cent after 1.48 per cent and 2.0 per cent rise in the previous two sessions.
Jamuna Oil was the largest gainer posting a rise of 15.72 per cent, followed by Meghna Petroleum 9.34 per cent, Padma Oil 5.81 per cent and Titas Gas 1.81 per cent.
Hoopla over banking sector on stock-split issue eased as the sector shed 1.58 per cent on profit taking, following 1.12 per cent decline in the previous session.
"Telecommunications and energy stocks have taken the market to a new height," said RACE, an asset management company, in its daily market commentary.
After banks, investors run after fuel and power stocks in anticipation of positive budgetary measure in power sector to improve the nagging crisis facing the country since long, said a stockbroker.
Grameenphone, the lone listed company in telecommunications sector and most weighted shares in DSE, was back into the gear, reversing the fifth successive session fall. The telecom company closed 1.70 per cent higher to Tk 281.
Textile sector edged 2.70 per cent higher riding on Bextex and Square Textile that rose 5.80 per cent and 1.88 per cent respectively.
Leasing or non-banking financial institutions (NBFIs) gained marginally 0.49 per cent, mutual funds 0.94 per cent and life insurers 0.97 per cent. Pharmaceuticals ended flat while general insurers lost 0.24 per cent.