Dhaka stocks greet New Year with continuing record run
Monday, 4 January 2010
FE Report
Dhaka stocks greeted the New Year on a buoyant note Sunday with the benchmark index continuing its record run, bolstered by non-banking financial institutions (NBFIs), energy and multinational companies.
The market rally for the eight consecutive sessions including Sunday was the longest gaining streak at the Dhaka Stock Exchange (DSE) in recent months.
The benchmark DSE General Index (DGEN) added 32.87 points or 0.72 per cent to close at 4,568.40, surpassing the previous record set in the last trading day of the just concluded year.
The broader DSE All Shares Price Index (DSI) surged by 26.23 points or 0.70 per cent to 3,773.76 while the DSE-20 blue chip index climbed 45.39 points or 1.73 per cent to 2,658.88.
The banking sector, the bellwether of the market, declined despite posting positive operating profit.
The banking issues fell on anticipation that though the banks posted significant growth in operating profits in 2009 could still end up in the red after adjustment of taxes and bad debts, said experts.
Mutual funds continued to bleed and insurance issues ended mixed while Grameenphone edged 0.96 per cent higher to end at Tk 189.30 per share.
"The market greeted the new year well," said Akter H Sannamat, managing director of the Prime Finance and Investment Ltd.
The rally in stock prices of multinational companies, energy and NBFIs took the market to a new high, he said.
Strong buying and selling activities pushed the turnover above Tk 10 billion. It increased to Tk 10.95 billion, up by nearly 18 per cent from that of the previous session.
Out of 236 issues traded, 117 closed in the positive territory, 116 in the negative zone and three remained unchanged.
Beximco Ltd was the top turnover leader with shares worth Tk 706.94 million changing hands.
AB Bank, Prime Bank, Lanka Bangla Finance, Bextex, Southeast Bank, Jamuna Oil, Shahjalal Bank, Titas Gas, and BATBC were the next other leading turnover leaders.
The day's top gainers were Saiham Textile, Aramit, Padma Oil, Uttara Finance, Agni System, Berger Paintings Bangladesh, Monno Staffler,
7th ICB and BD Computer.
Quasem Silk, Anwar Galvanising, 1st BSRS, Premier Bank, Bangas, Rupali Bank, Trust Bank, Takaful Insurance, Eastern Lubricants and Grameen One Mutual Fund were the major losers.
Dhaka stocks greeted the New Year on a buoyant note Sunday with the benchmark index continuing its record run, bolstered by non-banking financial institutions (NBFIs), energy and multinational companies.
The market rally for the eight consecutive sessions including Sunday was the longest gaining streak at the Dhaka Stock Exchange (DSE) in recent months.
The benchmark DSE General Index (DGEN) added 32.87 points or 0.72 per cent to close at 4,568.40, surpassing the previous record set in the last trading day of the just concluded year.
The broader DSE All Shares Price Index (DSI) surged by 26.23 points or 0.70 per cent to 3,773.76 while the DSE-20 blue chip index climbed 45.39 points or 1.73 per cent to 2,658.88.
The banking sector, the bellwether of the market, declined despite posting positive operating profit.
The banking issues fell on anticipation that though the banks posted significant growth in operating profits in 2009 could still end up in the red after adjustment of taxes and bad debts, said experts.
Mutual funds continued to bleed and insurance issues ended mixed while Grameenphone edged 0.96 per cent higher to end at Tk 189.30 per share.
"The market greeted the new year well," said Akter H Sannamat, managing director of the Prime Finance and Investment Ltd.
The rally in stock prices of multinational companies, energy and NBFIs took the market to a new high, he said.
Strong buying and selling activities pushed the turnover above Tk 10 billion. It increased to Tk 10.95 billion, up by nearly 18 per cent from that of the previous session.
Out of 236 issues traded, 117 closed in the positive territory, 116 in the negative zone and three remained unchanged.
Beximco Ltd was the top turnover leader with shares worth Tk 706.94 million changing hands.
AB Bank, Prime Bank, Lanka Bangla Finance, Bextex, Southeast Bank, Jamuna Oil, Shahjalal Bank, Titas Gas, and BATBC were the next other leading turnover leaders.
The day's top gainers were Saiham Textile, Aramit, Padma Oil, Uttara Finance, Agni System, Berger Paintings Bangladesh, Monno Staffler,
7th ICB and BD Computer.
Quasem Silk, Anwar Galvanising, 1st BSRS, Premier Bank, Bangas, Rupali Bank, Trust Bank, Takaful Insurance, Eastern Lubricants and Grameen One Mutual Fund were the major losers.