Dhaka stocks fall on price correction
Tuesday, 6 May 2008
FE Report
Dhaka stocks, led by banking issues, declined Monday on price correction, breaking two sessions' gaining streak, amid slight increase in the turnover.
The First BSRS Mutual Fund, the day's top gainer rose to a crescendo with 11.45 per cent rise. The highest price of the issue was Tk 1,945.25 against the face value of Tk 100 each.
The Dhaka Stock Exchange (DSE), however, opened with strong note, pushing the key index more than 10 points in first five minutes of the trade. Later, it moved to the negative territory due to price correction.
All the barometers - DSE General Index (DGEN), All Shares Price Index (DSI) and DSE-20 (DS20) - shed 14.50 points, 9.14 points and 6.21 points to close at 3,087.43, 2,603.67 and 2,366.78 respectively.
But share prices of all the life insurance companies rose on the day without any fundamental reason.
Dominated by the losers, the total turnover rose slightly to Tk 2.84 billion from the previous day's Tk 2.81 billion. Out of 240 issues traded on the day, 141 declined, 86 advanced and 13 remained unchanged. But the total market capitalisation declined to Tk 857.95 billion against Tk 860.35 billion.
AB Bank continued to retain the top turnover position with shares worth Tk 293.35 million traded, posting a fall of 1.45 per cent in its share price to close at Tk 4,273.75 per share.
Stock prices of the IFIC Bank also slipped 2.35 per cent to finish at Tk 3,127.75 per share, making it the second top turnover leader with shares worth Tk 145.42 million changing hands.
Dhaka stocks, led by banking issues, declined Monday on price correction, breaking two sessions' gaining streak, amid slight increase in the turnover.
The First BSRS Mutual Fund, the day's top gainer rose to a crescendo with 11.45 per cent rise. The highest price of the issue was Tk 1,945.25 against the face value of Tk 100 each.
The Dhaka Stock Exchange (DSE), however, opened with strong note, pushing the key index more than 10 points in first five minutes of the trade. Later, it moved to the negative territory due to price correction.
All the barometers - DSE General Index (DGEN), All Shares Price Index (DSI) and DSE-20 (DS20) - shed 14.50 points, 9.14 points and 6.21 points to close at 3,087.43, 2,603.67 and 2,366.78 respectively.
But share prices of all the life insurance companies rose on the day without any fundamental reason.
Dominated by the losers, the total turnover rose slightly to Tk 2.84 billion from the previous day's Tk 2.81 billion. Out of 240 issues traded on the day, 141 declined, 86 advanced and 13 remained unchanged. But the total market capitalisation declined to Tk 857.95 billion against Tk 860.35 billion.
AB Bank continued to retain the top turnover position with shares worth Tk 293.35 million traded, posting a fall of 1.45 per cent in its share price to close at Tk 4,273.75 per share.
Stock prices of the IFIC Bank also slipped 2.35 per cent to finish at Tk 3,127.75 per share, making it the second top turnover leader with shares worth Tk 145.42 million changing hands.