Dhaka stocks gain on SEC measures
Thursday, 13 November 2008
FE Report
Dhaka stocks recorded a sharp rise Wednesday on measures taken by the Securities and Exchange Commission (SEC) to stabilise the market, which saw a bear run for more than a month.
The benchmark DSE General Index (DGEN) gained 71.33 points to close at 2693.28, while the All Shares Price Index (DSI) and the DSE-20 index comprising blue chips went up by 55.64 points and 23.52 points to end at 2231.62 and 2266.40 respectively.
The market moved into the positive territory on strong buying support from the investors, particularly institutional ones who reacted positively to the measures taken by the securities regulator, according to the market operators.
Earlier on Tuesday, after meeting with the merchant banks, an SEC spokesman told the media that the commission was actively considering an increase in the margin loan ratio for merchant banks. The margin loan exposure limit of non-bank financial institutions might also be relaxed to improve the liquidity situation in the stock market, he said.
Of the total 227 issues traded on the day, 181 gained, 40 declined and six remained unchanged.
The day's total turnover increased Wednesday substantially to Tk 2.67 billion (267 crore) from Tk 1.60 billion of Tuesday. The market capitalisation increased marginally to Tk 970 billion from Tk 951 billion of the day before.
Dhaka stocks recorded a sharp rise Wednesday on measures taken by the Securities and Exchange Commission (SEC) to stabilise the market, which saw a bear run for more than a month.
The benchmark DSE General Index (DGEN) gained 71.33 points to close at 2693.28, while the All Shares Price Index (DSI) and the DSE-20 index comprising blue chips went up by 55.64 points and 23.52 points to end at 2231.62 and 2266.40 respectively.
The market moved into the positive territory on strong buying support from the investors, particularly institutional ones who reacted positively to the measures taken by the securities regulator, according to the market operators.
Earlier on Tuesday, after meeting with the merchant banks, an SEC spokesman told the media that the commission was actively considering an increase in the margin loan ratio for merchant banks. The margin loan exposure limit of non-bank financial institutions might also be relaxed to improve the liquidity situation in the stock market, he said.
Of the total 227 issues traded on the day, 181 gained, 40 declined and six remained unchanged.
The day's total turnover increased Wednesday substantially to Tk 2.67 billion (267 crore) from Tk 1.60 billion of Tuesday. The market capitalisation increased marginally to Tk 970 billion from Tk 951 billion of the day before.