Dhaka stocks close steady in volatile trading
Friday, 1 May 2009
FE Report
Dhaka stocks closed steady in a volatile market Thursday.
The DSE General Index (DGEN)-the benchmark index- ended at 2554.35 with a meager loss of 0.62 points, shedding its early gain of 16 points recorded after start of trading.
The Dhaka Stock Exchange (DSE) witnessed a zigzag trading as the index moved within a band of about 15-16 points throughout the whole session.
However, at the end of the session the benchmark index closed almost at the same level of the previous day, just 0.02 per cent higher.
"The market closed virtually static, reflecting that the market is looking for stability," said Yawer Sayeed, a capital market analyst.
"However, a higher volume points out that the investors showed interest in the market but they were yet to regain confidence," he added.
The total turnover increased to Tk 3.72 billion from the previous day's Tk 3.31 billion.
Two other market barometers --the DSE All Shares Price Index (DSI) and the DSE-20 blue chip index-- shed 0.61 points and 6.26 points to close at 2119.85 and 1976.84 respectively.
Most of the sectors' performance was mixed on the day as the number of gainers and losers were almost same. Out of 240 issues traded, 114 advanced, 118 declined and eight remained unchanged.
Trading in banking issues closed mixed while non-banking financial institutions (NBFIs) also moved similarly. None of the companies moved too much up or down. Most of the insurance companies went down, although the losses were not significant.
Although most of the mutual funds gained, the sector as a whole did not gain much.
In the fuel and power sector, Titas Gas lost 1.0 per cent, Power Grid 0.4 per cent, DESCO 0.1 per cent. The turnover leader Summit Power gained 2.6 per cent.
Dhaka stocks closed steady in a volatile market Thursday.
The DSE General Index (DGEN)-the benchmark index- ended at 2554.35 with a meager loss of 0.62 points, shedding its early gain of 16 points recorded after start of trading.
The Dhaka Stock Exchange (DSE) witnessed a zigzag trading as the index moved within a band of about 15-16 points throughout the whole session.
However, at the end of the session the benchmark index closed almost at the same level of the previous day, just 0.02 per cent higher.
"The market closed virtually static, reflecting that the market is looking for stability," said Yawer Sayeed, a capital market analyst.
"However, a higher volume points out that the investors showed interest in the market but they were yet to regain confidence," he added.
The total turnover increased to Tk 3.72 billion from the previous day's Tk 3.31 billion.
Two other market barometers --the DSE All Shares Price Index (DSI) and the DSE-20 blue chip index-- shed 0.61 points and 6.26 points to close at 2119.85 and 1976.84 respectively.
Most of the sectors' performance was mixed on the day as the number of gainers and losers were almost same. Out of 240 issues traded, 114 advanced, 118 declined and eight remained unchanged.
Trading in banking issues closed mixed while non-banking financial institutions (NBFIs) also moved similarly. None of the companies moved too much up or down. Most of the insurance companies went down, although the losses were not significant.
Although most of the mutual funds gained, the sector as a whole did not gain much.
In the fuel and power sector, Titas Gas lost 1.0 per cent, Power Grid 0.4 per cent, DESCO 0.1 per cent. The turnover leader Summit Power gained 2.6 per cent.