DBBL drags DSE down
FE Report | Tuesday, 3 March 2009
Dhaka stocks dropped on post dividend price correction of heavyweight Dutch-Bangla Bank Monday, amid higher turnover.
But the junk shares continued to shine as the day's top ten gainers were from Z-category shares, indicating ominous sign for the market.
The DSE General Index (DGEN)-benchmark index-closed at 2592.83 with a drop of 33.43 points. All Shares Price Index (DSI) ended at 2165.79 with a fall of 24.75 points. DSE-20 comprising blue chips finished at 2108.25 with a meager loss of 0.79 points.
The price adjustment of the Dutch-Bangla Bank Limited (DBBL) shares after corporate benefits of 50 per cent stock dividend pulled down the indices, according to the stockbrokers. Share prices of the bank, the day's top loser, fell 31.56 per cent to close at Tk 1681.50 per share.
"The market has managed the inevitable price correction of DBBL that went ex-dividend and some other shares after sharp gain the previous day," said Abdul Awal, managing director of the Multi Securities. Price correction in mutual funds also weighed on the market, he added.
Out of total 263 issues traded, 130 gained, 128 declined and five remained unchanged.
The day's total turnover increased to Tk 3.99 billion against the previous day's Tk 3.50 billion, while the market capitalisation remained steady at Tk 1.0 trillion.
Summit Power was the top turnover leader with shares worth Tk 308.42 million traded.
Other top turnover leaders were Shinepukur Ceramics Limited, AIMS First Mutual Fund, Beximco, S Alam Cold Rolled Steels Limited, Beximco Pharma, Bextex, Titas Gas, Apex Tannery and Grameen Scheme Two Mutual Fund.
Out of 69 worst performing Z-category traded issues, 52 advanced, 15 declined and two remained unchanged.
The top ten gainers came from Z-category companies. They were Rangamati Food, Dynamic Textiles, Padma Cement, Padma Print, M Hossain Garments, Mita Textiles, BD Zipper, BD Luggage, Modern Cement and Meghna Pet.
Other top losers of the day were Sonargaon Textiles, ICB Islamic, Safko Spinning, Anlima Yarn, Excelsiorshoes, ICB 1st NRB, Monno Stafflers, United Insurance and BD Autocars.
But the junk shares continued to shine as the day's top ten gainers were from Z-category shares, indicating ominous sign for the market.
The DSE General Index (DGEN)-benchmark index-closed at 2592.83 with a drop of 33.43 points. All Shares Price Index (DSI) ended at 2165.79 with a fall of 24.75 points. DSE-20 comprising blue chips finished at 2108.25 with a meager loss of 0.79 points.
The price adjustment of the Dutch-Bangla Bank Limited (DBBL) shares after corporate benefits of 50 per cent stock dividend pulled down the indices, according to the stockbrokers. Share prices of the bank, the day's top loser, fell 31.56 per cent to close at Tk 1681.50 per share.
"The market has managed the inevitable price correction of DBBL that went ex-dividend and some other shares after sharp gain the previous day," said Abdul Awal, managing director of the Multi Securities. Price correction in mutual funds also weighed on the market, he added.
Out of total 263 issues traded, 130 gained, 128 declined and five remained unchanged.
The day's total turnover increased to Tk 3.99 billion against the previous day's Tk 3.50 billion, while the market capitalisation remained steady at Tk 1.0 trillion.
Summit Power was the top turnover leader with shares worth Tk 308.42 million traded.
Other top turnover leaders were Shinepukur Ceramics Limited, AIMS First Mutual Fund, Beximco, S Alam Cold Rolled Steels Limited, Beximco Pharma, Bextex, Titas Gas, Apex Tannery and Grameen Scheme Two Mutual Fund.
Out of 69 worst performing Z-category traded issues, 52 advanced, 15 declined and two remained unchanged.
The top ten gainers came from Z-category companies. They were Rangamati Food, Dynamic Textiles, Padma Cement, Padma Print, M Hossain Garments, Mita Textiles, BD Zipper, BD Luggage, Modern Cement and Meghna Pet.
Other top losers of the day were Sonargaon Textiles, ICB Islamic, Safko Spinning, Anlima Yarn, Excelsiorshoes, ICB 1st NRB, Monno Stafflers, United Insurance and BD Autocars.