Dhaka stocks end higher
Friday, 9 July 2010
FE Report
Dhaka stocks ended higher for the fourth session in a row amid choppy trading Thursday, pushing the benchmark index to a new high, as the investors bet on banking, leasing and energy stocks.
The market flipped between positive and negative as it dived at noon when the news spread in the market that securities regulator might take further price-curbing measures. But late rally helped the market to finish positive.
The DSE General Index (DGEN), the main gauge of the bourse, closed at 6432.50, which is an all time high, gaining 0.43 per cent or 27.78 points, after hitting highest 6442.46 at final session and lowest 6340.02 at noon.
The broader All Shares Price Index (DSI) rose 0.44 per cent or 23.86 points to 5346.25. The DSE 20 index comprising blue chip shares ended at 3792.32, up by 0.47 per cent or 17.88 points.
The market was quite nervous during mid session about regulators' possible price-curbing measures, said a stock dealer. But it reversed later when the investors put fund on financials and energy stocks, he added.
After trading hours on the day, the Securities and Exchange Commission reduced loan margin ratio to 1:1 from 1:1.5 in a bid to cool down the market. The decision will come into effect from Sunday.
Nearly 60 per cent of issue prices dropped as out of 248 issues traded, 97 closed positive, 146 negative and five remained unchanged. Turnover remained almost unchanged as it stood at Tk 21.75 billion over the previous session of Tk 21.70 billion.
Banking issues, the market's bellwether, edged 0.33 per cent higher. Among the banking issues, United Commercial Bank Limited gained highest 4.51 per cent, followed by BRAC Bank 4.94 per cent and National Bank 3.25 per cent.
Dhaka stocks ended higher for the fourth session in a row amid choppy trading Thursday, pushing the benchmark index to a new high, as the investors bet on banking, leasing and energy stocks.
The market flipped between positive and negative as it dived at noon when the news spread in the market that securities regulator might take further price-curbing measures. But late rally helped the market to finish positive.
The DSE General Index (DGEN), the main gauge of the bourse, closed at 6432.50, which is an all time high, gaining 0.43 per cent or 27.78 points, after hitting highest 6442.46 at final session and lowest 6340.02 at noon.
The broader All Shares Price Index (DSI) rose 0.44 per cent or 23.86 points to 5346.25. The DSE 20 index comprising blue chip shares ended at 3792.32, up by 0.47 per cent or 17.88 points.
The market was quite nervous during mid session about regulators' possible price-curbing measures, said a stock dealer. But it reversed later when the investors put fund on financials and energy stocks, he added.
After trading hours on the day, the Securities and Exchange Commission reduced loan margin ratio to 1:1 from 1:1.5 in a bid to cool down the market. The decision will come into effect from Sunday.
Nearly 60 per cent of issue prices dropped as out of 248 issues traded, 97 closed positive, 146 negative and five remained unchanged. Turnover remained almost unchanged as it stood at Tk 21.75 billion over the previous session of Tk 21.70 billion.
Banking issues, the market's bellwether, edged 0.33 per cent higher. Among the banking issues, United Commercial Bank Limited gained highest 4.51 per cent, followed by BRAC Bank 4.94 per cent and National Bank 3.25 per cent.