Dhaka stocks dip to one-week low
Wednesday, 7 April 2010
FE Report
Dhaka stocks dipped more than one per cent to a one-week low Tuesday with the turnover also sinking below Tk 6.0 billion-mark for the first time in six months.
Most of the selling took place of all the major sectors including banking, telecommunicates, pharmaceuticals, energy, insurers and mutual funds stocks.
The benchmark DSE General Index (DGEN) shed 1.26 per cent or 70.62 points to end at 5502.74 -- its lowest close since March 28 -- pulled down by heavyweight Grameenphone that declined more than eight per cent on profit taking.
The market began with a firm note in the morning but could not stay in the positive trend as the benchmark index soon lost sharply, losing more than 50 points in the following one hour. Afterwards the market showed little signs of recovery but eventually it went down further on selling pressure from the investors.
The broader All Shares Price Index (DSI) lost 58.30 points or 1.27 per cent to close at 4505.79 while DSE-20 comprising blue chips finished 1.06 per cent or 30.89 points to 2858.32.
More than 66 per cent share prices closed negative as out of 248 issues traded, 77 gained, 164 declined and seven remained unchanged.
Turnover came down below Tk 6.0 billion-mark since September 17 last year despite hefty share transaction of Grameenphone, the country's telecom giant.
At the day's end, it stood at Tk 5.82 billion, down 16 per cent over the previous session.
The banking sector, the bellwether of the DSE accounting for one-fourth of its market capitalisation, went down by 1.48 per cent -- their fourth session of decline -- after several top banks continued to cut their over-exposure in the market, dealers.
Telecommunications, which make up one-sixth of the DSE market cap, broke its winning run after five straight sessions on profit taking as GP, the lone listed company in the sector, nudged 2.29 per cent lower to close at Tk 362.40.
Dhaka stocks dipped more than one per cent to a one-week low Tuesday with the turnover also sinking below Tk 6.0 billion-mark for the first time in six months.
Most of the selling took place of all the major sectors including banking, telecommunicates, pharmaceuticals, energy, insurers and mutual funds stocks.
The benchmark DSE General Index (DGEN) shed 1.26 per cent or 70.62 points to end at 5502.74 -- its lowest close since March 28 -- pulled down by heavyweight Grameenphone that declined more than eight per cent on profit taking.
The market began with a firm note in the morning but could not stay in the positive trend as the benchmark index soon lost sharply, losing more than 50 points in the following one hour. Afterwards the market showed little signs of recovery but eventually it went down further on selling pressure from the investors.
The broader All Shares Price Index (DSI) lost 58.30 points or 1.27 per cent to close at 4505.79 while DSE-20 comprising blue chips finished 1.06 per cent or 30.89 points to 2858.32.
More than 66 per cent share prices closed negative as out of 248 issues traded, 77 gained, 164 declined and seven remained unchanged.
Turnover came down below Tk 6.0 billion-mark since September 17 last year despite hefty share transaction of Grameenphone, the country's telecom giant.
At the day's end, it stood at Tk 5.82 billion, down 16 per cent over the previous session.
The banking sector, the bellwether of the DSE accounting for one-fourth of its market capitalisation, went down by 1.48 per cent -- their fourth session of decline -- after several top banks continued to cut their over-exposure in the market, dealers.
Telecommunications, which make up one-sixth of the DSE market cap, broke its winning run after five straight sessions on profit taking as GP, the lone listed company in the sector, nudged 2.29 per cent lower to close at Tk 362.40.