DGEN reaches new high as stocks regain
Thursday, 21 October 2010
FE Report
Dhaka stocks regained Wednesday, pushing the benchmark index to a new mark, after edging lower in the previous session on price correction.
The market started the day with a strong note and the momentum continued until the closure, as the investors went for fresh buying of banking, non-banking financial institutions (NBFIs) and pharmaceutical issues.
The benchmark DSE General Index (DGEN) rose 0.60 per cent or 45.55 points to close at 7522.38, beating the previous all time high of 7513.45, recorded a week back.
The broader All Shares Price Index (DSI) moved up by 0.57 per cent or 35.76 points to 6250.06. The DSE-20 Index comprising blue chips was up by 0.96 per cent or 42.16 points to 4410.56.
However, a fund manger, being sceptical about the sustainability of the index, said, "The market has been driven by liquidity, and not by fundamentals. So, let's see what happens."
The investors took positions in banking stocks to get a good return in future that has sent the market to a new height, said a stockbroker.
Banking issues, which make up more than one-third of the total market capitalisation, climbed 1.25 per cent, reversing two sessions of loss.
Among other major gainers, pharmaceuticals soared 1.36 per cent, after closing lower in the previous session. The NBFIs soared 0.29 per cent.
Grameenphone, the most weighted shares in the DSE, continued to lose its ground, falling 1.54 per cent.
Fuel and power sector closed in red, extending its losing streak for the two consecutive sessions.
Gainers took a strong lead over the losers, as out of 242 issues traded, 144 advanced, 93 declined, and five remained unchanged. The daily average turnover was recorded at Tk 19.08 billion, down from Tk 19.40 billion of the previous day.
Titas Gas topped the turnover list with shares worth Tk 874.97 million changing hands. Other turnover leaders were Peoples Leasing, Summit Power, Beximco Ltd, Social Investment Bank Ltd, One Bank, Maksons Spinning, Bay Leasing, Prime Bank and Union Capital.
Dhaka stocks regained Wednesday, pushing the benchmark index to a new mark, after edging lower in the previous session on price correction.
The market started the day with a strong note and the momentum continued until the closure, as the investors went for fresh buying of banking, non-banking financial institutions (NBFIs) and pharmaceutical issues.
The benchmark DSE General Index (DGEN) rose 0.60 per cent or 45.55 points to close at 7522.38, beating the previous all time high of 7513.45, recorded a week back.
The broader All Shares Price Index (DSI) moved up by 0.57 per cent or 35.76 points to 6250.06. The DSE-20 Index comprising blue chips was up by 0.96 per cent or 42.16 points to 4410.56.
However, a fund manger, being sceptical about the sustainability of the index, said, "The market has been driven by liquidity, and not by fundamentals. So, let's see what happens."
The investors took positions in banking stocks to get a good return in future that has sent the market to a new height, said a stockbroker.
Banking issues, which make up more than one-third of the total market capitalisation, climbed 1.25 per cent, reversing two sessions of loss.
Among other major gainers, pharmaceuticals soared 1.36 per cent, after closing lower in the previous session. The NBFIs soared 0.29 per cent.
Grameenphone, the most weighted shares in the DSE, continued to lose its ground, falling 1.54 per cent.
Fuel and power sector closed in red, extending its losing streak for the two consecutive sessions.
Gainers took a strong lead over the losers, as out of 242 issues traded, 144 advanced, 93 declined, and five remained unchanged. The daily average turnover was recorded at Tk 19.08 billion, down from Tk 19.40 billion of the previous day.
Titas Gas topped the turnover list with shares worth Tk 874.97 million changing hands. Other turnover leaders were Peoples Leasing, Summit Power, Beximco Ltd, Social Investment Bank Ltd, One Bank, Maksons Spinning, Bay Leasing, Prime Bank and Union Capital.