Dhaka stocks fall further
Tuesday, 18 March 2008
FE Report
Dhaka stocks further declined Monday amid profit-taking but with a steady turnover.
All the market barometers-DGEN, DS 20 and all shares price index or DSI- shed 17.81 points, 1.10 points and 14.55 points respectively.
DGEN, DS 20 and DSI stood at 2951.66, 2211.25 and 2494.45 points respectively.
"The market is showing downtrend for the last few days as it witnessed upward trend for some days consecutively in the previous week, but it is somehow not encouraging that investors have tilted towards the Z-category issues," a DSE source said.
Out of 78 traded issues under Z-category, 42 gained, 31 declined and 5 remained unchanged.
On the other hand, 256 issues were traded among all the categories.
Of them, 111 advanced, 139 declined and six remained unchanged.
Among the Z-category issues, Bengal Fine Ceramic whopped 14.56 per cent, Bangladesh Leaf Tobacco streaked 12.59 per cent, Metalex Corporation jumped 14.94 per cent, Perfume Chemical 19.11 per cent, Pharmaco 18.95 per cent and Rangamati Food 13.79 per cent.
"Investors are not considering the fundamentals of the Z-category issues, they are only considering that the low-performing companies will be recast under a directive of the Securities and Exchange Commission (SEC) by the end of June," a market operator said.
He further said that low quantity of the Z-category shares amid the growing demand of the investors have also propelled the rise of the share prices of the junk companies.
Square Pharma became the top turnover leader on the day with the news of the expansion of the country's largest pharmaceutical company.
Dhaka stocks further declined Monday amid profit-taking but with a steady turnover.
All the market barometers-DGEN, DS 20 and all shares price index or DSI- shed 17.81 points, 1.10 points and 14.55 points respectively.
DGEN, DS 20 and DSI stood at 2951.66, 2211.25 and 2494.45 points respectively.
"The market is showing downtrend for the last few days as it witnessed upward trend for some days consecutively in the previous week, but it is somehow not encouraging that investors have tilted towards the Z-category issues," a DSE source said.
Out of 78 traded issues under Z-category, 42 gained, 31 declined and 5 remained unchanged.
On the other hand, 256 issues were traded among all the categories.
Of them, 111 advanced, 139 declined and six remained unchanged.
Among the Z-category issues, Bengal Fine Ceramic whopped 14.56 per cent, Bangladesh Leaf Tobacco streaked 12.59 per cent, Metalex Corporation jumped 14.94 per cent, Perfume Chemical 19.11 per cent, Pharmaco 18.95 per cent and Rangamati Food 13.79 per cent.
"Investors are not considering the fundamentals of the Z-category issues, they are only considering that the low-performing companies will be recast under a directive of the Securities and Exchange Commission (SEC) by the end of June," a market operator said.
He further said that low quantity of the Z-category shares amid the growing demand of the investors have also propelled the rise of the share prices of the junk companies.
Square Pharma became the top turnover leader on the day with the news of the expansion of the country's largest pharmaceutical company.