Dhaka stocks fall amid increased turnover
Monday, 18 February 2008
FE Report
Dhaka stocks fell Sunday led by banks, pharmaceuticals, power and energy issues amid increased turnover.
The downturn of the market on the day has been attributed to the fall in share prices of heavyweight companies hit by the diversion of funds towards the two state-owned oil companies, according to the analysts and market operators.
The benchmark DSE General Index (DGEN), the All Shares Price Index (DSI) and the DSE-20 Index (DS20) shed 33.63 points, 23.03 points and 23.77 points to close at 2936.06, 2478.81 and 2319.27 respectively.
From the outset the trading began on a negative note at the DSE and the main index DGEN dropped 38 points after midday. Later, it recovered some points towards the close of trade.
Dominated by losers, the total turnover rose to Tk 2.15 billion from Thursday's Tk 1.81 billion supported by significant transaction of Jamuna Oil and Meghna Petroleum issues.
Out of 233 issues traded on the day, 147 declined, 73 advanced and 13 remained unchanged. The total market capitalisation declined to Tk 804.81 billion from Thursday's Tk 810.84 billion .
Share prices of insurance companies continued to rise on the rumour that the paid up capital of the companies will be enhanced.
The investors have bought stocks of Meghna Petroleum Limited and Jamuna Oil Company by selling other shares, thus sending the indices to the negative territory, according to market operators.
A total of 1,118,500 shares of Jamuna Oil and 623,100 shares of Megnha Petroleum were sold on the day.
Jamuna Oil was the top turnover leader with shares worth Tk 359.16 million traded on the day, registering a fall of 0.93 per cent to close at Tk 326.70 per share.
Meghna Petroleum was the second turnover leader with traded shares worth Tk 200.01 million followed by AB Bank with Tk 112.11 million, BRAC Bank Tk 86.33 million and Grameen One Tk 74. 15 million.
The share price of the United Commercial Bank(UCB) continued to scale up and posted a 9.21 per cent rise to close at Tk 4440.50 per share.
The UCB share price saw persistent rise in the last several days on the news that the court started hearing on the pending case on dividend issue, market sources said.
Dhaka stocks fell Sunday led by banks, pharmaceuticals, power and energy issues amid increased turnover.
The downturn of the market on the day has been attributed to the fall in share prices of heavyweight companies hit by the diversion of funds towards the two state-owned oil companies, according to the analysts and market operators.
The benchmark DSE General Index (DGEN), the All Shares Price Index (DSI) and the DSE-20 Index (DS20) shed 33.63 points, 23.03 points and 23.77 points to close at 2936.06, 2478.81 and 2319.27 respectively.
From the outset the trading began on a negative note at the DSE and the main index DGEN dropped 38 points after midday. Later, it recovered some points towards the close of trade.
Dominated by losers, the total turnover rose to Tk 2.15 billion from Thursday's Tk 1.81 billion supported by significant transaction of Jamuna Oil and Meghna Petroleum issues.
Out of 233 issues traded on the day, 147 declined, 73 advanced and 13 remained unchanged. The total market capitalisation declined to Tk 804.81 billion from Thursday's Tk 810.84 billion .
Share prices of insurance companies continued to rise on the rumour that the paid up capital of the companies will be enhanced.
The investors have bought stocks of Meghna Petroleum Limited and Jamuna Oil Company by selling other shares, thus sending the indices to the negative territory, according to market operators.
A total of 1,118,500 shares of Jamuna Oil and 623,100 shares of Megnha Petroleum were sold on the day.
Jamuna Oil was the top turnover leader with shares worth Tk 359.16 million traded on the day, registering a fall of 0.93 per cent to close at Tk 326.70 per share.
Meghna Petroleum was the second turnover leader with traded shares worth Tk 200.01 million followed by AB Bank with Tk 112.11 million, BRAC Bank Tk 86.33 million and Grameen One Tk 74. 15 million.
The share price of the United Commercial Bank(UCB) continued to scale up and posted a 9.21 per cent rise to close at Tk 4440.50 per share.
The UCB share price saw persistent rise in the last several days on the news that the court started hearing on the pending case on dividend issue, market sources said.