Dhaka stock prices steady
Thursday, 14 February 2008
FE Report
Dhaka stock prices remained steady Wednesday amid continued decline in turnover, making the trading of the prime bourse dull for the last several days.
Dominated by gainers, the total turnover continued to come down one week low at Tk 1.91 billion from previous day's Tk 1.97 billion supported by persistent cautious stance by the merchant bank's loan disbursement.
Meanwhile, the trading of the Z-category United Commercial Bank (UCB) came to a halt as its price limit crossed the circuit breaker set by the securities regulator. The share price of the bank rose 9.99 per cent to close at Tk 3696.25 per share.
The share price of the UCB on the day gained ground on the news that the high court started hearing on pending cases of the bank on dividend issue, market sources said.
The news triggered a buying spree among the investors to buy the UCB shares and at one stage, there was no sellers of the bank shares.
The bank's dividend disbursement remained pending from 2002 to 2006.
On January 16, the Securities and Exchange Commission (SEC) imposed circuit breaker on the trading of Z-category issues effective from the following day.
The price-controlling device was imposed on the Z-category issues when they recorded unusual rise in recent months, market sources said.
Dhaka stock prices remained steady Wednesday amid continued decline in turnover, making the trading of the prime bourse dull for the last several days.
Dominated by gainers, the total turnover continued to come down one week low at Tk 1.91 billion from previous day's Tk 1.97 billion supported by persistent cautious stance by the merchant bank's loan disbursement.
Meanwhile, the trading of the Z-category United Commercial Bank (UCB) came to a halt as its price limit crossed the circuit breaker set by the securities regulator. The share price of the bank rose 9.99 per cent to close at Tk 3696.25 per share.
The share price of the UCB on the day gained ground on the news that the high court started hearing on pending cases of the bank on dividend issue, market sources said.
The news triggered a buying spree among the investors to buy the UCB shares and at one stage, there was no sellers of the bank shares.
The bank's dividend disbursement remained pending from 2002 to 2006.
On January 16, the Securities and Exchange Commission (SEC) imposed circuit breaker on the trading of Z-category issues effective from the following day.
The price-controlling device was imposed on the Z-category issues when they recorded unusual rise in recent months, market sources said.