DGEN crosses 7700-mark
Tuesday, 26 October 2010
FE Report
Dhaka stocks continued to rally for the fourth session in a row Monday with the benchmark index crossing 7700-mark for the first time.
News of the pre-scheduled meeting called by the securities regulator with merchant banks sent the market in the red for a brief scale anticipating further credit tightening measures, dealers said.
But the market turned positive after investors got signal that the meeting was called as part of a regular meeting.
The benchmark DSE General Index (DGEN) moved up by 0.52 per cent or 40.79 points to close at 7,740.47, which was a fresh high.
The broader All Shares Price Index (DSI) gained 0.42 per cent or 27.17 points to 6,435.37. The DSE-20 Index comprising blue chips rose 1.10 per cent or 48.81 points to 4,456.21.
Moderate rally in banking and fuel and power issues that rose 1.02 per cent and 1.34 per cent respectively pulled the market up.
Some major sectors – non-banking financial institutions and insurances – saw price correction after gaining in the last couple of sessions.
But the state-owned companies shined on the day ahead of their dividend declarations.
Cement sector declined 2.30 per cent as Lafarge Surma Cement shed 6.3 per cent to emerge as the biggest loser of the day.
Grameenphone, the most weighted shares in DSE, lost more than two per cent after gaining in the previous session.
Turnover came slightly down to Tk 23.33 billion, down four per cent over the previous session’s Tk 24.4 billion. Out of 243 issues traded, 122 advanced, 114 declined and seven remained unchanged.
Titas Gas, a state-owned gas distribution company, topped the turnover list with shares worth Tk 1.18 billion traded.
Other turnover leaders were Prime Finance, Shahjalal Bank, Peoples Leasing, Summit Power, United Commercial Bank Limited, Square Pharmaceuticals, Lanka Bangla Finance, BSRM and Confidence Cement.
Desh Garments, the pioneer in apparel sector, gained highest 15.82 per cent, followed by Mithun Knitting, Eastern Lubricants, National Tubes, CMC Kamal, Dulamia Cotton, Shinepukur Ceramics and Rahima Food.
Other leading losers included Apex Spinning, Standard Ceramics, Prime Insurance, BIFC, Apex Foods, Gemini Sea Food and Dacca Dyeing.
Dhaka stocks continued to rally for the fourth session in a row Monday with the benchmark index crossing 7700-mark for the first time.
News of the pre-scheduled meeting called by the securities regulator with merchant banks sent the market in the red for a brief scale anticipating further credit tightening measures, dealers said.
But the market turned positive after investors got signal that the meeting was called as part of a regular meeting.
The benchmark DSE General Index (DGEN) moved up by 0.52 per cent or 40.79 points to close at 7,740.47, which was a fresh high.
The broader All Shares Price Index (DSI) gained 0.42 per cent or 27.17 points to 6,435.37. The DSE-20 Index comprising blue chips rose 1.10 per cent or 48.81 points to 4,456.21.
Moderate rally in banking and fuel and power issues that rose 1.02 per cent and 1.34 per cent respectively pulled the market up.
Some major sectors – non-banking financial institutions and insurances – saw price correction after gaining in the last couple of sessions.
But the state-owned companies shined on the day ahead of their dividend declarations.
Cement sector declined 2.30 per cent as Lafarge Surma Cement shed 6.3 per cent to emerge as the biggest loser of the day.
Grameenphone, the most weighted shares in DSE, lost more than two per cent after gaining in the previous session.
Turnover came slightly down to Tk 23.33 billion, down four per cent over the previous session’s Tk 24.4 billion. Out of 243 issues traded, 122 advanced, 114 declined and seven remained unchanged.
Titas Gas, a state-owned gas distribution company, topped the turnover list with shares worth Tk 1.18 billion traded.
Other turnover leaders were Prime Finance, Shahjalal Bank, Peoples Leasing, Summit Power, United Commercial Bank Limited, Square Pharmaceuticals, Lanka Bangla Finance, BSRM and Confidence Cement.
Desh Garments, the pioneer in apparel sector, gained highest 15.82 per cent, followed by Mithun Knitting, Eastern Lubricants, National Tubes, CMC Kamal, Dulamia Cotton, Shinepukur Ceramics and Rahima Food.
Other leading losers included Apex Spinning, Standard Ceramics, Prime Insurance, BIFC, Apex Foods, Gemini Sea Food and Dacca Dyeing.