Dhaka stocks close high
Friday, 18 September 2009
FE Report
Dhaka stocks finished with happy ending Thursday as Dhaka's benchmark index closed at high level with the hope of better-than- expected return after the long nine-day vacation on the occasion of Eid-ul-Fitr starting from today.
The Dhaka Stock Exchange's (DSE) General Index (DGEN) closed at 3058.79 points with a gain of 14.69 points or 0.48 per cent.
The broader All Shares Price Index (DSI) rose 12.99 points or 0.50 per cent to end at 2570.19. The DSE-20 blue chip index was up by 10.05 points or 0.46 per cent to finish at 2163.14.
The market started upbeat in the morning, rising steadily and crossing the 3065 mark at around noon. For the next one and a half hours, it dropped, pulled down by the loss in mutual funds and energy sectors. The market picked up again and finished positive.
"It was an insurance-led rally, mainly based on anticipation of healthy return after long holidays," said Kazi Foriduddin, chief executive officer of the PFI Securities Ltd.
Buying pressure, which eased during Ramadan, mounted at the end of Ramadan ahead of the long holidays for the Eid festival marking the end of the Muslim fasting month, he added.
The insurance, banking and non-banking financial institutions (NBFIs) issues gained. But mutual funds retraced form their gaining streak. The pharmaceuticals sector finished mixed. All the companies in the Beximco Group gained Thursday.
The day's turnover also increased to stand at Tk 5.81 billion, an increase of 7.0 per cent over the previous session's Tk 5.43 billion.
Gainers took a strong lead over the losers as out of 237 issues traded, 152 gained, 77 declined and eight remained unchanged.
Share prices of Marico, the subsidiary of a Mumbai-based group that made debut the previous day, rose 3.55 per cent to close at Tk 364.00 a share.
AIMS First Mutual Fund was the top turnover leader with shares worth Tk 206.36 million traded, followed by state-owned gas distribution company Titas Tk 202.26 million.
Keya Cosmetics, Maksons Spinning, Beximco Ltd, Navana CNG, Summit Power, Fu-Wang Ceramic and Bextex were the next other turnover leaders.
Metro Spinning, one of the leading spin makers, was the highest gainer with posting a rise of 10.28 per cent despite right share allotment this week.
Bangas, Kohinoor Chemical, BGIC, Apex Spinning, National Polymer, Keya Cosmetic and Al-Haj Textile were the other top gainers.
Rahima Food, Dulamia Cotton, 8th ICB, Modern Dyeing, 4th ICB, 7th ICB, Apex Weaving and Dhaka Fisheries were the major losers.
Dhaka stocks finished with happy ending Thursday as Dhaka's benchmark index closed at high level with the hope of better-than- expected return after the long nine-day vacation on the occasion of Eid-ul-Fitr starting from today.
The Dhaka Stock Exchange's (DSE) General Index (DGEN) closed at 3058.79 points with a gain of 14.69 points or 0.48 per cent.
The broader All Shares Price Index (DSI) rose 12.99 points or 0.50 per cent to end at 2570.19. The DSE-20 blue chip index was up by 10.05 points or 0.46 per cent to finish at 2163.14.
The market started upbeat in the morning, rising steadily and crossing the 3065 mark at around noon. For the next one and a half hours, it dropped, pulled down by the loss in mutual funds and energy sectors. The market picked up again and finished positive.
"It was an insurance-led rally, mainly based on anticipation of healthy return after long holidays," said Kazi Foriduddin, chief executive officer of the PFI Securities Ltd.
Buying pressure, which eased during Ramadan, mounted at the end of Ramadan ahead of the long holidays for the Eid festival marking the end of the Muslim fasting month, he added.
The insurance, banking and non-banking financial institutions (NBFIs) issues gained. But mutual funds retraced form their gaining streak. The pharmaceuticals sector finished mixed. All the companies in the Beximco Group gained Thursday.
The day's turnover also increased to stand at Tk 5.81 billion, an increase of 7.0 per cent over the previous session's Tk 5.43 billion.
Gainers took a strong lead over the losers as out of 237 issues traded, 152 gained, 77 declined and eight remained unchanged.
Share prices of Marico, the subsidiary of a Mumbai-based group that made debut the previous day, rose 3.55 per cent to close at Tk 364.00 a share.
AIMS First Mutual Fund was the top turnover leader with shares worth Tk 206.36 million traded, followed by state-owned gas distribution company Titas Tk 202.26 million.
Keya Cosmetics, Maksons Spinning, Beximco Ltd, Navana CNG, Summit Power, Fu-Wang Ceramic and Bextex were the next other turnover leaders.
Metro Spinning, one of the leading spin makers, was the highest gainer with posting a rise of 10.28 per cent despite right share allotment this week.
Bangas, Kohinoor Chemical, BGIC, Apex Spinning, National Polymer, Keya Cosmetic and Al-Haj Textile were the other top gainers.
Rahima Food, Dulamia Cotton, 8th ICB, Modern Dyeing, 4th ICB, 7th ICB, Apex Weaving and Dhaka Fisheries were the major losers.