Dhaka stocks decline for 4th consecutive day
Tuesday, 21 October 2008
FE Report
Dhaka stocks declined for the fourth straight session Monday with the turnover coming down below Tk 4.0 billion-mark after about one month.
The Dhaka stocks fluctuated throughout the session trimming some of its earlier gains.
All the market barometers -- the benchmark DSE General Index (DGEN), All Shares Price Index (DSI) and DSE-20 comprising blue chips -- lost 24.90 points, 22.21 points and 12.47 points to close at 2856.80, 2362.61 and 2404.86 respectively.
The investors' cautious behaviour about putting their funds in scrips has sent the market into the red on the day, according to the market operators and market analysts.
"Low share transactions seen by some of the heavyweight companies on the day due to the loan margin suspension by a few merchant bankers were the reason for low turnover," a market analyst said adding the market remained over-cautious but a bit restless.
He also said, "The market is not mature enough as it depends mainly on speculation. It is a risky market and is subject to fluctuations."
The turnover declined to Tk 3.36 billion against Tk 4.63 billion of the previous day while the market capitalisation remained steady at Tk 1.00 trillion.
Beximco Pharma continued to be the turnover leader with shares worth Tk 278.44 million traded, followed by Desco Tk 262.56 million and Beximco Limited Tk 237.37 million changing hands.
Other turnover leaders of the day were Titas Gas, ACI Limited, Summit Alliance Port Limited, Lankabangla Finance Limited, Square Pharma, Golden Son and Summit Power.
Newly debutant Summit Alliance Port Limited was the biggest gainer posting a rise of 18.60 per cent, followed by Shinepukur Holdings Limited with rise of 13.35 per cent, Monno Jutex 8.80 per cent, Dynamic Textile 8.75 per cent and United Insurance 7.48 per cent.
Dhaka stocks declined for the fourth straight session Monday with the turnover coming down below Tk 4.0 billion-mark after about one month.
The Dhaka stocks fluctuated throughout the session trimming some of its earlier gains.
All the market barometers -- the benchmark DSE General Index (DGEN), All Shares Price Index (DSI) and DSE-20 comprising blue chips -- lost 24.90 points, 22.21 points and 12.47 points to close at 2856.80, 2362.61 and 2404.86 respectively.
The investors' cautious behaviour about putting their funds in scrips has sent the market into the red on the day, according to the market operators and market analysts.
"Low share transactions seen by some of the heavyweight companies on the day due to the loan margin suspension by a few merchant bankers were the reason for low turnover," a market analyst said adding the market remained over-cautious but a bit restless.
He also said, "The market is not mature enough as it depends mainly on speculation. It is a risky market and is subject to fluctuations."
The turnover declined to Tk 3.36 billion against Tk 4.63 billion of the previous day while the market capitalisation remained steady at Tk 1.00 trillion.
Beximco Pharma continued to be the turnover leader with shares worth Tk 278.44 million traded, followed by Desco Tk 262.56 million and Beximco Limited Tk 237.37 million changing hands.
Other turnover leaders of the day were Titas Gas, ACI Limited, Summit Alliance Port Limited, Lankabangla Finance Limited, Square Pharma, Golden Son and Summit Power.
Newly debutant Summit Alliance Port Limited was the biggest gainer posting a rise of 18.60 per cent, followed by Shinepukur Holdings Limited with rise of 13.35 per cent, Monno Jutex 8.80 per cent, Dynamic Textile 8.75 per cent and United Insurance 7.48 per cent.