Dhaka stocks bounce back to set record
Friday, 5 November 2010
FE Report
Dhaka stocks bounced back to reach new heights Thursday, after three straight sessions' marginal fall on price correction.
The gain was led by mutual funds (MFs) that shined, a day after the securities regulator allowed AIMS First Guaranteed Mutual Fund to disburse its pending dividends.
The benchmark DSE General Index (DGEN) passed the 8000-mark in mid-session, but failed to sustain the flow. At the end of the day, it rose 0.69 per cent or 55.30 points to reach at a fresh high of 7986.91. The previous all time high was 7957.12, recorded three sessions back.
Twenty-eight out of 29 listed mutual funds gained, and the mutual fund sector surged by more than 7.15 per cent.
After trade on Wednesday, the Securities and Exchange Commission (SEC) allowed the trustee of AIMS First Mutual Fund to disburse its pending dividends and entitlements.
On February 24, the trustee committee of AIMS First MF announced 70 per cent stock dividend and 130 per cent rights entitlement for 2007-08 and 2008-09.
"The regulator's decision has helped the mutual funds to stage a comeback, since it slapped credit restriction on the sector about eight months ago," said a leading stockbroker.
"This has also geared up the market, leading it to recover the loss of the past three sessions," he added.
AIMS First MF, the highest gainer, scaled up by 20.00 per cent. There was no seller against thousands of enthusiastic buyers.
A meeting of the trustee committee of the Fund will be held on November 9 to declare the pending dividends and entitlements.
The broader All Shares Price Index (DSI) moved up by 0.67 per cent or 44.44 points to 6641.04. The DSE-20 Index comprising blue chips was up by 0.21 per cent or 9.93 points to 4661.72.
Most sectors except telecommunication, bank, food and allied, and engineering advanced. Among other major gaining sectors, insurance soared 4.39 per cent, and non-banking financial institution (NBFI) 1.23 per cent. Fuel and power sector edged 0.76 per cent higher, snapping its three sessions of loss.
Turnover clocked at Tk 24.9 billion. Out of 241 issues traded, 163 gained, 73 declined, and five remained unchanged.
Beximco Limited topped the turnover list with shares worth Tk 1.39 billion changing hands. Other turnover leaders were Peoples Leasing, Titas gas, Standard bank, Shahjalal Bank, Prime Finance, Aftab Auto, Confidence Cement, DESCO and AB Bank.
Dhaka stocks bounced back to reach new heights Thursday, after three straight sessions' marginal fall on price correction.
The gain was led by mutual funds (MFs) that shined, a day after the securities regulator allowed AIMS First Guaranteed Mutual Fund to disburse its pending dividends.
The benchmark DSE General Index (DGEN) passed the 8000-mark in mid-session, but failed to sustain the flow. At the end of the day, it rose 0.69 per cent or 55.30 points to reach at a fresh high of 7986.91. The previous all time high was 7957.12, recorded three sessions back.
Twenty-eight out of 29 listed mutual funds gained, and the mutual fund sector surged by more than 7.15 per cent.
After trade on Wednesday, the Securities and Exchange Commission (SEC) allowed the trustee of AIMS First Mutual Fund to disburse its pending dividends and entitlements.
On February 24, the trustee committee of AIMS First MF announced 70 per cent stock dividend and 130 per cent rights entitlement for 2007-08 and 2008-09.
"The regulator's decision has helped the mutual funds to stage a comeback, since it slapped credit restriction on the sector about eight months ago," said a leading stockbroker.
"This has also geared up the market, leading it to recover the loss of the past three sessions," he added.
AIMS First MF, the highest gainer, scaled up by 20.00 per cent. There was no seller against thousands of enthusiastic buyers.
A meeting of the trustee committee of the Fund will be held on November 9 to declare the pending dividends and entitlements.
The broader All Shares Price Index (DSI) moved up by 0.67 per cent or 44.44 points to 6641.04. The DSE-20 Index comprising blue chips was up by 0.21 per cent or 9.93 points to 4661.72.
Most sectors except telecommunication, bank, food and allied, and engineering advanced. Among other major gaining sectors, insurance soared 4.39 per cent, and non-banking financial institution (NBFI) 1.23 per cent. Fuel and power sector edged 0.76 per cent higher, snapping its three sessions of loss.
Turnover clocked at Tk 24.9 billion. Out of 241 issues traded, 163 gained, 73 declined, and five remained unchanged.
Beximco Limited topped the turnover list with shares worth Tk 1.39 billion changing hands. Other turnover leaders were Peoples Leasing, Titas gas, Standard bank, Shahjalal Bank, Prime Finance, Aftab Auto, Confidence Cement, DESCO and AB Bank.