Dhaka stocks extend gains
Wednesday, 21 April 2010
FE Report
Dhaka stocks witnessed sharp rise extending gains for the second straight trading session Tuesday with the benchmark index climbing to a four-week high as the investors used the recent sell-off as a chance to jump back into the market.
Bulls were on a roll led by telecommunications, banking, leasing, fuel and power stocks. Even the mid-cap and the small-cap stocks were in demand.
The benchmark DSE General Index (DGEN) surged by 80 points or 1.44 per cent to 5608.90 -- its highest since March 25.
The broader All Shares Price Index (DSI) was up by 66.11 points or 1.45 per cent to 4604.74 while DSE-20 Index comprising blue chips rose 27.24 points or 0.92 per cent to 2967.94.
Marico, an Indian beauty company, jumped more than 8.70 per cent to Tk 430.0 after it announced that it would market Saffola Gold, a vegetable edible oil brand, in Bangladesh.
Telecommunication continued to rally for the second session in a row as Grameenphone, most weighted share that makes up one-fifth of the DSE, edged 3.15 per cent higher to Tk 343500.
Banking sector advanced more than one per cent but the pace of gain was slower than the previous day as the sector rose more than two per cent.
Among the banking stocks, Pubali Bank, Rupali Bank and EXIM Bank were the highest gainers posting a rise of 5.10 per cent, 4.72 per cent and 4.47 per cent respectively.
Dhaka stocks witnessed sharp rise extending gains for the second straight trading session Tuesday with the benchmark index climbing to a four-week high as the investors used the recent sell-off as a chance to jump back into the market.
Bulls were on a roll led by telecommunications, banking, leasing, fuel and power stocks. Even the mid-cap and the small-cap stocks were in demand.
The benchmark DSE General Index (DGEN) surged by 80 points or 1.44 per cent to 5608.90 -- its highest since March 25.
The broader All Shares Price Index (DSI) was up by 66.11 points or 1.45 per cent to 4604.74 while DSE-20 Index comprising blue chips rose 27.24 points or 0.92 per cent to 2967.94.
Marico, an Indian beauty company, jumped more than 8.70 per cent to Tk 430.0 after it announced that it would market Saffola Gold, a vegetable edible oil brand, in Bangladesh.
Telecommunication continued to rally for the second session in a row as Grameenphone, most weighted share that makes up one-fifth of the DSE, edged 3.15 per cent higher to Tk 343500.
Banking sector advanced more than one per cent but the pace of gain was slower than the previous day as the sector rose more than two per cent.
Among the banking stocks, Pubali Bank, Rupali Bank and EXIM Bank were the highest gainers posting a rise of 5.10 per cent, 4.72 per cent and 4.47 per cent respectively.