Dhaka stocks end slightly lower
Tuesday, 23 December 2008
FE Report
Dhaka stocks finished slightly lower amid volatile trading Monday after two straight days rally.
Though trading at the Dhaka Stock Exchange (DSE) opened with a positive note but seesawed throughout the session because of intra-day volatility.
The benchmark index climbed 21.22 points in the first half an hour of trade. Later, it fluctuated during the whole session and landed in the negative territory.
The benchmark DSE General Index (DGEN), All Shares Price Index (DSI) and DSE20 Index (DS20) comprising blue chips gained 6.33 points, 3.49 points and 9.67 points to close at 2584.61, 2142.21 and 2146.77 respectively.
"My assessment is that a section of investors were busy for buying securities to get a good return after polls while others booked short term profit after the market's two consecutive rise, creating somewhat volatility," said Mahmudul Bari, deputy general manager of the IDLC Finance Limited.
"Today's market sentiment, however, was normal despite intra-day volatility that was relatively lower than the previous sessions experienced by the market off and on over the two and half months," he said.
Asked whether any impact of the bleak data of exports published in the dailies Monday fell on the market, Bari said, "Truly, it is a fundamental reason for jolting the market but I don't think any immediate impact fell in the market as all speculation now centers over the national polls which is only six days away."
The day's total turnover came down to Tk 2.04 billion against the previous day's Tk 2.48 billion. The market capitalisation slightly decreased to Tk 985.90 billion from Tk 987.12 billion on Sunday.
Out of 234 issues traded, 101 gained, 122 declined and 11 remained unchanged.
Shinepukur Ceramics Limited was the day's top turnover leader with shares worth Tk 148.72 million traded on the day.
Summit Power, Titas Gas, Beximco Limited, ACI Formulations Limited, Beximco Pharma, Uttara Bank, National Bank Limited (NBL), Lanka Bangla Finance and BRAC Bank were the day's rest top turnover leaders.
Of the top ten gainers, six were from worst performing Z-category companies.
Stock prices of the Shyampur Sugar Mills Limited, a Z-category issue, had the biggest gain registering 17.77 per cent rise to end at Tk 15.90 per share.
The day's other top gainers were Zeal Bangla, Rupali Bank, Eastern Lubricants, Dulamia Cotton, BD Luggage, Meghna Condensed Milk, Prime Islami, Life Insurance, Chittagong Vegetable and Meghna Petroleum.
Paper Processing, United Insurance, TBL, Pioneer Insurance, Imam Button, 8th ICB, Sreepur Textile, Glaxo SmithKline, Lafarge Surma Cement Limited and Quasem Silk.
Dhaka stocks finished slightly lower amid volatile trading Monday after two straight days rally.
Though trading at the Dhaka Stock Exchange (DSE) opened with a positive note but seesawed throughout the session because of intra-day volatility.
The benchmark index climbed 21.22 points in the first half an hour of trade. Later, it fluctuated during the whole session and landed in the negative territory.
The benchmark DSE General Index (DGEN), All Shares Price Index (DSI) and DSE20 Index (DS20) comprising blue chips gained 6.33 points, 3.49 points and 9.67 points to close at 2584.61, 2142.21 and 2146.77 respectively.
"My assessment is that a section of investors were busy for buying securities to get a good return after polls while others booked short term profit after the market's two consecutive rise, creating somewhat volatility," said Mahmudul Bari, deputy general manager of the IDLC Finance Limited.
"Today's market sentiment, however, was normal despite intra-day volatility that was relatively lower than the previous sessions experienced by the market off and on over the two and half months," he said.
Asked whether any impact of the bleak data of exports published in the dailies Monday fell on the market, Bari said, "Truly, it is a fundamental reason for jolting the market but I don't think any immediate impact fell in the market as all speculation now centers over the national polls which is only six days away."
The day's total turnover came down to Tk 2.04 billion against the previous day's Tk 2.48 billion. The market capitalisation slightly decreased to Tk 985.90 billion from Tk 987.12 billion on Sunday.
Out of 234 issues traded, 101 gained, 122 declined and 11 remained unchanged.
Shinepukur Ceramics Limited was the day's top turnover leader with shares worth Tk 148.72 million traded on the day.
Summit Power, Titas Gas, Beximco Limited, ACI Formulations Limited, Beximco Pharma, Uttara Bank, National Bank Limited (NBL), Lanka Bangla Finance and BRAC Bank were the day's rest top turnover leaders.
Of the top ten gainers, six were from worst performing Z-category companies.
Stock prices of the Shyampur Sugar Mills Limited, a Z-category issue, had the biggest gain registering 17.77 per cent rise to end at Tk 15.90 per share.
The day's other top gainers were Zeal Bangla, Rupali Bank, Eastern Lubricants, Dulamia Cotton, BD Luggage, Meghna Condensed Milk, Prime Islami, Life Insurance, Chittagong Vegetable and Meghna Petroleum.
Paper Processing, United Insurance, TBL, Pioneer Insurance, Imam Button, 8th ICB, Sreepur Textile, Glaxo SmithKline, Lafarge Surma Cement Limited and Quasem Silk.