Dhaka stocks fall again after rally
Wednesday, 3 December 2008
FE Report
Dhaka stocks fell marginally Tuesday after a day of rally, amid persistently volatile trading.
Trading at the Dhaka Stock Exchange (DSE) seesawed throughout the whole session as the benchmark index rose 16 points in the first hour. Later, it continued to slip before recovering slightly after the mid-session.
The benchmark DSE General Index (DGEN), the All Shares Price Index (DSI) and the DSE20 (DS20) Index lost 9.48 points, 3.89 points and 3.89 points to close at 2507.56, 2076.84 and 2110.66 respectively.
Banks and most of the insurance and non-banking financial institutions led the decline.
"The fall in banks' share prices sent the market into the red. Otherwise, the market was positive today (Tuesday) because of a set of measures taken by the merchant banks in line with the securities regulator's direction," said Sheikh Mortuza Ahmed, head of Merchant Banking & Investment Division of Prime Bank Ltd.
"The market, however, has full potential to rise at a speed it is falling now," he added.
'Take a look at the market trend over the last few days. When the banking shares rise, the market jumps. Because, the banking issues account for more than 50 per cent of the market capitalisation,' he added.
Of the total 226 issues traded, 69 advanced, 148 declined and nine remained unchanged.
The day's total turnover declined to Tk 1.54 billion from the previous day's Tk 2.11 billion while the market capitalisation came down to Tk 962.28 billion from Tk 963.63 billion.
A capital market expert said, "The intra-day volatility persists, reflecting a sense of uneasiness in the investors' minds."
The market will remain closed almost half a month during December, which might be one of the reasons of the investors' uneasiness, he opined.
Shinepukur Ceramics Limited was the top turnover leader with shares worth Tk 194.20 million traded.
Beximco Pharmaceuticals, Beximco Limited, Titas Gas, Uttara Bank, ACI Limited, National Bank Limited, Islami Bank, LankaBangla Finance and Dutch-Bangla Bank Limited were the day's remaining top 10 turnover leaders.
The day's top gainers were ACI Formulations, Shinepukur Ceramics Limited, Beximco Limited, TBL, BD Online, Fine Foods, Lexco, Mithun Knitting, Eagle Star and Dhaka Fisheries.
Top losers were Alamin Chemicals, Maq Enterprises, Janata Insurance, 7th ICB, Global Insurance, Eastern Insurance, Rupali Insurance, Karnaphuli Insurance, National Polymer and Bengal Biscuits.
Dhaka stocks fell marginally Tuesday after a day of rally, amid persistently volatile trading.
Trading at the Dhaka Stock Exchange (DSE) seesawed throughout the whole session as the benchmark index rose 16 points in the first hour. Later, it continued to slip before recovering slightly after the mid-session.
The benchmark DSE General Index (DGEN), the All Shares Price Index (DSI) and the DSE20 (DS20) Index lost 9.48 points, 3.89 points and 3.89 points to close at 2507.56, 2076.84 and 2110.66 respectively.
Banks and most of the insurance and non-banking financial institutions led the decline.
"The fall in banks' share prices sent the market into the red. Otherwise, the market was positive today (Tuesday) because of a set of measures taken by the merchant banks in line with the securities regulator's direction," said Sheikh Mortuza Ahmed, head of Merchant Banking & Investment Division of Prime Bank Ltd.
"The market, however, has full potential to rise at a speed it is falling now," he added.
'Take a look at the market trend over the last few days. When the banking shares rise, the market jumps. Because, the banking issues account for more than 50 per cent of the market capitalisation,' he added.
Of the total 226 issues traded, 69 advanced, 148 declined and nine remained unchanged.
The day's total turnover declined to Tk 1.54 billion from the previous day's Tk 2.11 billion while the market capitalisation came down to Tk 962.28 billion from Tk 963.63 billion.
A capital market expert said, "The intra-day volatility persists, reflecting a sense of uneasiness in the investors' minds."
The market will remain closed almost half a month during December, which might be one of the reasons of the investors' uneasiness, he opined.
Shinepukur Ceramics Limited was the top turnover leader with shares worth Tk 194.20 million traded.
Beximco Pharmaceuticals, Beximco Limited, Titas Gas, Uttara Bank, ACI Limited, National Bank Limited, Islami Bank, LankaBangla Finance and Dutch-Bangla Bank Limited were the day's remaining top 10 turnover leaders.
The day's top gainers were ACI Formulations, Shinepukur Ceramics Limited, Beximco Limited, TBL, BD Online, Fine Foods, Lexco, Mithun Knitting, Eagle Star and Dhaka Fisheries.
Top losers were Alamin Chemicals, Maq Enterprises, Janata Insurance, 7th ICB, Global Insurance, Eastern Insurance, Rupali Insurance, Karnaphuli Insurance, National Polymer and Bengal Biscuits.