Dhaka stocks gain marginally
Wednesday, 29 July 2009
FE Report
Dhaka stocks gained marginally Tuesday amid curtailment of one hour's trading time due to overnight torrential rains that inundated most parts of the city.
Presence of the investors was thin in the trading chamber of the Dhaka Stock Exchange (DSE) but most of them gave buying and selling orders over phone with 75 per cent executives of brokerage houses attending office, according to the stockbrokers.
The inclement weather forced the prime bourse to begin trade one hour behind schedule at 11:00 am.
The market gained about 22 points in the first one hour and the index stayed at that level until the end. However, in last half an hour there was a selling spree which brought down the market by just five points.
The benchmark DSE General Index (DGEN) closed at 2861.68 with a gain of 0.64 per cent or 18.40 points.
The broader All Shares Price Index (DSI) edged up by 0.61 per cent or 14.73 points to finish at 2397.74 and the DSE 20 blue chip index rose 0.69 per cent or 15.27 points to end at 2205.98.
"The market moved into the positive territory as the investors anticipated that something positive might come out from the meeting between Bangladesh Bank, Securities and Exchange Commission (SEC) and bourses," said a stockbroker asking not to be named.
The meeting was called against the backdrop of the BB's recent directive to the commercial banks to submit report on their stock portfolio in the first week of every month. The move left an adverse impact on the market, he said.
Most of the investors completed trading over phone and the presence of the executives at brokerage houses was 75 per cent.
Gainers took a strong lead over the losers as out of total 233 issues traded, 182 gained, 49 declined and two remained unchanged.
In the shortened period of trading, total turnover stood at Tk 3.79 billion.
"Considering today's three-hour trading session, turnover indicated investors' increased participation," said the Equity Partners Limited (EPL) in its daily market analysis.
Banking sector ended almost unchanged with the NCC Bank gaining highest 2.1 per cent. The IFIC Bank lost 3.4 per cent as the High Court postponed its annual general meeting (AGM).
Dhaka stocks gained marginally Tuesday amid curtailment of one hour's trading time due to overnight torrential rains that inundated most parts of the city.
Presence of the investors was thin in the trading chamber of the Dhaka Stock Exchange (DSE) but most of them gave buying and selling orders over phone with 75 per cent executives of brokerage houses attending office, according to the stockbrokers.
The inclement weather forced the prime bourse to begin trade one hour behind schedule at 11:00 am.
The market gained about 22 points in the first one hour and the index stayed at that level until the end. However, in last half an hour there was a selling spree which brought down the market by just five points.
The benchmark DSE General Index (DGEN) closed at 2861.68 with a gain of 0.64 per cent or 18.40 points.
The broader All Shares Price Index (DSI) edged up by 0.61 per cent or 14.73 points to finish at 2397.74 and the DSE 20 blue chip index rose 0.69 per cent or 15.27 points to end at 2205.98.
"The market moved into the positive territory as the investors anticipated that something positive might come out from the meeting between Bangladesh Bank, Securities and Exchange Commission (SEC) and bourses," said a stockbroker asking not to be named.
The meeting was called against the backdrop of the BB's recent directive to the commercial banks to submit report on their stock portfolio in the first week of every month. The move left an adverse impact on the market, he said.
Most of the investors completed trading over phone and the presence of the executives at brokerage houses was 75 per cent.
Gainers took a strong lead over the losers as out of total 233 issues traded, 182 gained, 49 declined and two remained unchanged.
In the shortened period of trading, total turnover stood at Tk 3.79 billion.
"Considering today's three-hour trading session, turnover indicated investors' increased participation," said the Equity Partners Limited (EPL) in its daily market analysis.
Banking sector ended almost unchanged with the NCC Bank gaining highest 2.1 per cent. The IFIC Bank lost 3.4 per cent as the High Court postponed its annual general meeting (AGM).