Dhaka stocks close higher
Thursday, 20 March 2008
FE Report
Dhaka stocks closed higher for the second straight sessions Wednesday, led by mutual funds and pharmaceuticals issues, amid significant rise in turnover.
Stock prices of the majority shares of lowly rated Z-category companies also continued their rally.
Trading began with cheerful note from the very outset as the key index climbed more than 22 points in the first hour of trading because of the support from the institutional investors. But it shed some points before the close of trading.
Around 54 per cent buying binge came from institutional investors and the rest from small investors on the day, according a source in the Dhaka Stock Exchange (DSE).
All indices -- the benchmark DSE General Index (DGEN), All Shares Prices Index and DSE-20 -- gained 16.88 points, 14.83 points and 13.85 points to close at 2986.40, 2522.72 and 2226.59 respectively.
"The investors are now buying shares after the recent profit-taking that has made the issues lucrative price-wise," said Ahmad Rashid, senior vice president of the DSE.
Dhaka stocks closed higher for the second straight sessions Wednesday, led by mutual funds and pharmaceuticals issues, amid significant rise in turnover.
Stock prices of the majority shares of lowly rated Z-category companies also continued their rally.
Trading began with cheerful note from the very outset as the key index climbed more than 22 points in the first hour of trading because of the support from the institutional investors. But it shed some points before the close of trading.
Around 54 per cent buying binge came from institutional investors and the rest from small investors on the day, according a source in the Dhaka Stock Exchange (DSE).
All indices -- the benchmark DSE General Index (DGEN), All Shares Prices Index and DSE-20 -- gained 16.88 points, 14.83 points and 13.85 points to close at 2986.40, 2522.72 and 2226.59 respectively.
"The investors are now buying shares after the recent profit-taking that has made the issues lucrative price-wise," said Ahmad Rashid, senior vice president of the DSE.