Dhaka stocks fall, but turnover hits record
Wednesday, 12 March 2008
FE Report
Share prices on the Dhaka Stock Exchange (DSE) fell in profit-taking Tuesday ending a five-session bull-run of the market that also saw a record turnover of more than Tk 4.0 billion.
The total turnover was lifted to Tk 4.09 billion on the day by huge transaction of AB Bank shares.
The trading began with positive note from the very outset as the key index DSE general index (DGEN) rose 36 points within 10 minutes of trading and later, it started to fall as the investors began to book profit from gains made over the past sessions.
All mutual funds of the state-owned Investment Corporation of Bangladesh (ICB) also surged on anticipation of good returns and the news that 2nd NRB mutual fund will hit the market soon.
Stocks of ICB Islamic, 8th ICB, ICB NRB and ICB AMCL First gained 15.42 per cent, 14.96 per cent, 14.45 per cent and 14.12 per cent respectively.
"Most of the ICB Mutual Funds ware not traded as there was no seller on the day," a DSE source said.
The AB Bank shares worth Tk 758.47 million were traded on the day. The bank gained 4.98 per cent to close at 3561.75 per share.
The bank has recommended 200 per cent stock dividend. Its record date has been fixed on June 1.
"Since there was no price limit due to the disclosure, the investors poured huge funds on AB Bank' stocks, pushing the day's total turnover to cross Tk 4.0 billion mark, which is an all-time high in the history of the DSE, " said a market operator.
Share prices on the Dhaka Stock Exchange (DSE) fell in profit-taking Tuesday ending a five-session bull-run of the market that also saw a record turnover of more than Tk 4.0 billion.
The total turnover was lifted to Tk 4.09 billion on the day by huge transaction of AB Bank shares.
The trading began with positive note from the very outset as the key index DSE general index (DGEN) rose 36 points within 10 minutes of trading and later, it started to fall as the investors began to book profit from gains made over the past sessions.
All mutual funds of the state-owned Investment Corporation of Bangladesh (ICB) also surged on anticipation of good returns and the news that 2nd NRB mutual fund will hit the market soon.
Stocks of ICB Islamic, 8th ICB, ICB NRB and ICB AMCL First gained 15.42 per cent, 14.96 per cent, 14.45 per cent and 14.12 per cent respectively.
"Most of the ICB Mutual Funds ware not traded as there was no seller on the day," a DSE source said.
The AB Bank shares worth Tk 758.47 million were traded on the day. The bank gained 4.98 per cent to close at 3561.75 per share.
The bank has recommended 200 per cent stock dividend. Its record date has been fixed on June 1.
"Since there was no price limit due to the disclosure, the investors poured huge funds on AB Bank' stocks, pushing the day's total turnover to cross Tk 4.0 billion mark, which is an all-time high in the history of the DSE, " said a market operator.