Dhaka stocks continue to drop for 4th session
FE Report | Friday, 1 August 2008
Dhaka stocks continued to drop for the fourth session in a row Thursday, as the negative sentiment created due to persistent fall of the market worked in the investors' mind.
From the very outset, trading at the Dhaka Stock Exchange (DSE) began with downbeat tone and continued towards close of the trade.
All the market barometers -- DSE General Index (DGEN), All Shares Price Index (DSI) and DS 20, comprising blue chips, -- shed 40.38 points, 57.04 points and 32.63 points to close at 2761.04, 2369.03 and 2526.23 respectively.
The market went into the red because of investor's selling their holdings for fear of further losses and sharp drop in share prices of United Commercial Bank (UCB) Limited, according to the market operators.
"There is nothing to be unnerved of in this situation as the half-yearly account reports of the listed companies, the DSE is receiving, show that their corporate profits are bright," said Salahuddin Ahmed Khan, chief executive officer of the prime bourse.
Most share prices declined on the day as out of 227 issues traded, 165 declined, 52 advanced and 10 remained unchanged.
The total market turnover also decreased to Tk 2.69 billion from previous day's Tk 3.12 billion. Turnover of the top ten companies accounted for 50.61 per cent to Tk 1.37 billion of the total turnover.
But the total market capitalisation rose to Tk 955.79 billion against Tk 973.93 billion.
Share prices of the state-run gas distribution company Titas continued to drop registering a fall of 2.14 per cent to end at Tk 301.75 per share.
In its 22nd trading day, 651700 shares out of total 2141728 were sold on both the stock exchanges - DSE and CSE, according to the ICB, the sales agent. The company will have to offload around 7.9 million shares in the remaining eight days as per regulations.
Stock prices of the United Commercial Bank (UCB) Limited, the top losers, plummeted 50.66 per cent to close at Tk 3242.25 a share, making it the fourth turnover leader with shares worth Tk 165.32 million traded. Normal trading of the bank's shares resumed on the day after its record trade.
Beximco bagged the top turnover position with shares worth Tk 231.92 million traded.
Beximco Pharma, ACI Limited, Keya Cosmetics, Square Pharma, Square Textile, Lanka Bangla Finance, Grameen One Mutual Fund and BATBC were the other top turnover leaders on the day.
All the shares of ICB mutual funds dropped on the day as these funds went ex-dividend.
Sixth ICB Mutual Fund (MF) was the second loser with a fall of 32.87 per cent, followed by 5th ICB with 16.96 per cent, Rahman Chemicals 16.28 per cent and 8th ICB MF.
Square Textile was the second top gainer with 10.34 per cent rise in its share prices, making it the top turnover leader with shares worth Tk 291.14 million.
The BD Thai Aluminum was the largest gainer of 17.38 per cent, followed by Standard Ceramic 7.02 per cent, Apex Spinning 6.56 per cent, Wonder Toys 6.52 per cent and Karnaphuli Insurance 4.04 per cent.
From the very outset, trading at the Dhaka Stock Exchange (DSE) began with downbeat tone and continued towards close of the trade.
All the market barometers -- DSE General Index (DGEN), All Shares Price Index (DSI) and DS 20, comprising blue chips, -- shed 40.38 points, 57.04 points and 32.63 points to close at 2761.04, 2369.03 and 2526.23 respectively.
The market went into the red because of investor's selling their holdings for fear of further losses and sharp drop in share prices of United Commercial Bank (UCB) Limited, according to the market operators.
"There is nothing to be unnerved of in this situation as the half-yearly account reports of the listed companies, the DSE is receiving, show that their corporate profits are bright," said Salahuddin Ahmed Khan, chief executive officer of the prime bourse.
Most share prices declined on the day as out of 227 issues traded, 165 declined, 52 advanced and 10 remained unchanged.
The total market turnover also decreased to Tk 2.69 billion from previous day's Tk 3.12 billion. Turnover of the top ten companies accounted for 50.61 per cent to Tk 1.37 billion of the total turnover.
But the total market capitalisation rose to Tk 955.79 billion against Tk 973.93 billion.
Share prices of the state-run gas distribution company Titas continued to drop registering a fall of 2.14 per cent to end at Tk 301.75 per share.
In its 22nd trading day, 651700 shares out of total 2141728 were sold on both the stock exchanges - DSE and CSE, according to the ICB, the sales agent. The company will have to offload around 7.9 million shares in the remaining eight days as per regulations.
Stock prices of the United Commercial Bank (UCB) Limited, the top losers, plummeted 50.66 per cent to close at Tk 3242.25 a share, making it the fourth turnover leader with shares worth Tk 165.32 million traded. Normal trading of the bank's shares resumed on the day after its record trade.
Beximco bagged the top turnover position with shares worth Tk 231.92 million traded.
Beximco Pharma, ACI Limited, Keya Cosmetics, Square Pharma, Square Textile, Lanka Bangla Finance, Grameen One Mutual Fund and BATBC were the other top turnover leaders on the day.
All the shares of ICB mutual funds dropped on the day as these funds went ex-dividend.
Sixth ICB Mutual Fund (MF) was the second loser with a fall of 32.87 per cent, followed by 5th ICB with 16.96 per cent, Rahman Chemicals 16.28 per cent and 8th ICB MF.
Square Textile was the second top gainer with 10.34 per cent rise in its share prices, making it the top turnover leader with shares worth Tk 291.14 million.
The BD Thai Aluminum was the largest gainer of 17.38 per cent, followed by Standard Ceramic 7.02 per cent, Apex Spinning 6.56 per cent, Wonder Toys 6.52 per cent and Karnaphuli Insurance 4.04 per cent.