Dhaka stocks back to old course
Wednesday, 24 November 2010
FE Report
Dhaka stocks returned to the black Tuesday, just a day after price correction triggered by the regulator's measures to restrict credit flows.
The day was also remarkable as the authorities, at the instruction of the Securities and Exchange Commission (SEC), suspended share trading of 13 companies after the unusual price hike of their issues.
The DSE General Index (DGEN), the yardstick of the market, gained 0.39 per cent or 33.76 points to close at 8554.82.
The broader DSE All Shares Price Index (DSI) rose 0.36 per cent or 26.05 points to end at 7107.32.
The DSE-20 blue chip index shed 0.35 per cent or 18.04 points to 5056.60.
The market swung between positive and negative in the morning due to initial fall in the banking issues. But late buying binge by investors in banks, insurance and IT stocks helped the market close higher.
"Continued fund flow has put the market on the positive track, although the SEC tightened measures to flow credits to the market," said a stockbroker.
The SEC halved Sunday loan margin ratio to 1:0.5 from 1:1, in an apparent attempt to tame the 'overbought' market.
Banking issues, the market's bellwether, fell in the morning but late rally in the sector has helped it close 0.13 per cent higher.
Life insurance rose 5.12 per cent, general insurance 2.21 per cent and IT 8.57 per cent. Other major sectors -- non-banking financial institutions and pharmaceuticals -- also moved in the positive terrain.
But telecommunications and cement declined 1.83 per cent and 1.33 per cent respectively.
Turnover was slightly down to Tk 27.45 billion from previous session's Tk 27.4 billion. Gainers took a strong lead over the losers as out of 248 issues traded, 146 gained, 99 lost and three remained unchanged.
The DSE has suspended share trading of 13 companies until further order due to unusual price hike of shares after directives from the SEC.
The companies are Sonali Aansh, Mithun Knitting, Tallu Spinning, CMC Kamal, Saffko Spinning, Miracle Industries, Standard Ceramic, Aziz Pipes, Bangladesh Autocars, United Airways, Desh Garments, Dacca Dyeing and Ambee Pharma.
Dhaka stocks returned to the black Tuesday, just a day after price correction triggered by the regulator's measures to restrict credit flows.
The day was also remarkable as the authorities, at the instruction of the Securities and Exchange Commission (SEC), suspended share trading of 13 companies after the unusual price hike of their issues.
The DSE General Index (DGEN), the yardstick of the market, gained 0.39 per cent or 33.76 points to close at 8554.82.
The broader DSE All Shares Price Index (DSI) rose 0.36 per cent or 26.05 points to end at 7107.32.
The DSE-20 blue chip index shed 0.35 per cent or 18.04 points to 5056.60.
The market swung between positive and negative in the morning due to initial fall in the banking issues. But late buying binge by investors in banks, insurance and IT stocks helped the market close higher.
"Continued fund flow has put the market on the positive track, although the SEC tightened measures to flow credits to the market," said a stockbroker.
The SEC halved Sunday loan margin ratio to 1:0.5 from 1:1, in an apparent attempt to tame the 'overbought' market.
Banking issues, the market's bellwether, fell in the morning but late rally in the sector has helped it close 0.13 per cent higher.
Life insurance rose 5.12 per cent, general insurance 2.21 per cent and IT 8.57 per cent. Other major sectors -- non-banking financial institutions and pharmaceuticals -- also moved in the positive terrain.
But telecommunications and cement declined 1.83 per cent and 1.33 per cent respectively.
Turnover was slightly down to Tk 27.45 billion from previous session's Tk 27.4 billion. Gainers took a strong lead over the losers as out of 248 issues traded, 146 gained, 99 lost and three remained unchanged.
The DSE has suspended share trading of 13 companies until further order due to unusual price hike of shares after directives from the SEC.
The companies are Sonali Aansh, Mithun Knitting, Tallu Spinning, CMC Kamal, Saffko Spinning, Miracle Industries, Standard Ceramic, Aziz Pipes, Bangladesh Autocars, United Airways, Desh Garments, Dacca Dyeing and Ambee Pharma.