DGEN down by 69 points
Wednesday, 20 April 2011
FE Report
The approval of largest ever mutual fund which have been approved by SEC mainly to bring back stability in stock market failed to spur the investors sentiment as the major index shed 68.23 points Tuesday. Investors showed their enthusiasm just for initial five minutes of the trading in response to the news of approval of the much expected Bangladesh Fund. But after five minutes, the index gradually went to the negative terrain. However, Dhaka Stock Exchange (DSE) major index DGEN shot up almost 150 points just after five minutes of start of the trading. Finally DGEN fell by 68.23 points or 1.07 per cent to settle at 6249.99 points. Out of total traded issues on the day, only 30 registered gain, while rest 217 declined and six remained unchanged. The broader All Shares Price Index (DSI) went down by 20.58 points or 0.39 per cent to close at 5,254.06. The DSE-20 index comprising blue-chip shares lost only 2.91 points or 0.07 per cent to 3,912.05. Market insiders said, although the Tk 50 billion BF got approval from the Securities and Exchange Commission (SEC), the investors are not sure whether the regulator has actually started to make investment in the capital market. CEO of Anwar Securities Azam Khan told FE that investors are still very shaky in terms of taking investment decision. The probe committee report on stock market scam is the big issue to the investors. "Even the BF failed to give any signal to the investors as they are not sure in which point BF will make their investment in the capital market" he added. As investors were shaky, the turnover also stood in a minimum level just at Tk 7.91 billion, the turnover was Tk 7.15 billion in value terms on the previous trading session. The transaction amount was less than Tk 10 billion for the fifth consecutive sessions which indicate of cautiousness from majority of the traders. Two companies of Beximco group, Beximco and Bextex emerged as the day's turnover leader with Tk 277.24 million and Tk 274.43 million turnover respectively. Other companies that featured in the top turnover list included Desco, Malek Spinning, Aftab Auto, BSRM Steels, Lanka Bangla Finance, Aims First M.F, Olympic Industries and S. Alam Steel Mills.
The approval of largest ever mutual fund which have been approved by SEC mainly to bring back stability in stock market failed to spur the investors sentiment as the major index shed 68.23 points Tuesday. Investors showed their enthusiasm just for initial five minutes of the trading in response to the news of approval of the much expected Bangladesh Fund. But after five minutes, the index gradually went to the negative terrain. However, Dhaka Stock Exchange (DSE) major index DGEN shot up almost 150 points just after five minutes of start of the trading. Finally DGEN fell by 68.23 points or 1.07 per cent to settle at 6249.99 points. Out of total traded issues on the day, only 30 registered gain, while rest 217 declined and six remained unchanged. The broader All Shares Price Index (DSI) went down by 20.58 points or 0.39 per cent to close at 5,254.06. The DSE-20 index comprising blue-chip shares lost only 2.91 points or 0.07 per cent to 3,912.05. Market insiders said, although the Tk 50 billion BF got approval from the Securities and Exchange Commission (SEC), the investors are not sure whether the regulator has actually started to make investment in the capital market. CEO of Anwar Securities Azam Khan told FE that investors are still very shaky in terms of taking investment decision. The probe committee report on stock market scam is the big issue to the investors. "Even the BF failed to give any signal to the investors as they are not sure in which point BF will make their investment in the capital market" he added. As investors were shaky, the turnover also stood in a minimum level just at Tk 7.91 billion, the turnover was Tk 7.15 billion in value terms on the previous trading session. The transaction amount was less than Tk 10 billion for the fifth consecutive sessions which indicate of cautiousness from majority of the traders. Two companies of Beximco group, Beximco and Bextex emerged as the day's turnover leader with Tk 277.24 million and Tk 274.43 million turnover respectively. Other companies that featured in the top turnover list included Desco, Malek Spinning, Aftab Auto, BSRM Steels, Lanka Bangla Finance, Aims First M.F, Olympic Industries and S. Alam Steel Mills.