Dhaka stocks in the red for 2nd straight session
Friday, 15 May 2009
FE Report
Dhaka stocks finished marginally lower for the second straight session Thursday amid strong speculations, which marred trading throughout the session.
The Dhaka Stock Exchange (DSE) witnessed a seesaw trading throughout the session as the benchmark DSE General Index (DGEN) swung between gains and losses several times.
The benchmark index shed 12.93 points or 0.51 per cent to close at 2506.89 on the day.
Speculative investments led the market resulting in the fundamentally strong sectors not performing very well, analysts said.
Most of the banking sector issues lost marginally. Almost all non-banking financial institutions (NBFIs), mutual funds and the fuel and power sector issues also lost while the insurance sector finished mixed.
The two other market barometers-- the DSE All Shares Price Index (DSI) and the DSE-20 blue chip index--lost 7.03 points and 8.03 points to end at 2090.82 and 1925.33 respectively.
The DSE turnover remained unchanged at Tk 4.24 billion.
The losers beat the gainers as out of 242 issues traded, 99 advanced, 138 declined and five remained unchanged.
Beximco was the top turnover leader with shares worth Tk 624.04 million changing hands.
Beximco Group made a couple of disclosures concerning the restructure of the company, which created a buying pressure on the stocks.
The other top-traded issues on the day were Titas Gas, BD Online, EHL, Aftab Automobiles, S Alam, Bextex, Beximco Synthetic, Summit Alliance Port Ltd and Shinepukur Ceramics Ltd.
Savar Refractories was the top gainer for the third consecutive session with a rise of 10.62 per cent without any fundamental reason behind it.
The DSE management has halted trading in shares of the company for market enquiry following its recent unusual price hike.
Nitol Insurance, Confidence Cement, Monno Staffler, Aftab Automobiles, BSRM, Rahim Textile, Progati Insurance and BD Autocars were the next other top gainers.
Rahman Chemicals was the biggest loser on the day with a fall of 26.45 per cent as the company did not recommend any dividend for the year 2008 due to its accumulated loss of Tk 23.96 million as of December 31 last.
BD Online, Dhaka Fisheries, Beximco Synthetic, Kay and Que, Monno Ceramics and Janata Insurance were the next other top losers on the day.
Among the pharmaceutical companies, Square Pharma lost 0.2 per cent, GlaxoSmithKline 2.8 per cent and Renata 0.1 per cent while Beximco Pharma gained 0.3 per cent and ACI Formulations 0.5 per cent.
In the Fuel and Power sector, Titas Gas lost 1.3 per cent, Power Grid 1.7 per cent and DESCO 1.3 per cent.
Dhaka stocks finished marginally lower for the second straight session Thursday amid strong speculations, which marred trading throughout the session.
The Dhaka Stock Exchange (DSE) witnessed a seesaw trading throughout the session as the benchmark DSE General Index (DGEN) swung between gains and losses several times.
The benchmark index shed 12.93 points or 0.51 per cent to close at 2506.89 on the day.
Speculative investments led the market resulting in the fundamentally strong sectors not performing very well, analysts said.
Most of the banking sector issues lost marginally. Almost all non-banking financial institutions (NBFIs), mutual funds and the fuel and power sector issues also lost while the insurance sector finished mixed.
The two other market barometers-- the DSE All Shares Price Index (DSI) and the DSE-20 blue chip index--lost 7.03 points and 8.03 points to end at 2090.82 and 1925.33 respectively.
The DSE turnover remained unchanged at Tk 4.24 billion.
The losers beat the gainers as out of 242 issues traded, 99 advanced, 138 declined and five remained unchanged.
Beximco was the top turnover leader with shares worth Tk 624.04 million changing hands.
Beximco Group made a couple of disclosures concerning the restructure of the company, which created a buying pressure on the stocks.
The other top-traded issues on the day were Titas Gas, BD Online, EHL, Aftab Automobiles, S Alam, Bextex, Beximco Synthetic, Summit Alliance Port Ltd and Shinepukur Ceramics Ltd.
Savar Refractories was the top gainer for the third consecutive session with a rise of 10.62 per cent without any fundamental reason behind it.
The DSE management has halted trading in shares of the company for market enquiry following its recent unusual price hike.
Nitol Insurance, Confidence Cement, Monno Staffler, Aftab Automobiles, BSRM, Rahim Textile, Progati Insurance and BD Autocars were the next other top gainers.
Rahman Chemicals was the biggest loser on the day with a fall of 26.45 per cent as the company did not recommend any dividend for the year 2008 due to its accumulated loss of Tk 23.96 million as of December 31 last.
BD Online, Dhaka Fisheries, Beximco Synthetic, Kay and Que, Monno Ceramics and Janata Insurance were the next other top losers on the day.
Among the pharmaceutical companies, Square Pharma lost 0.2 per cent, GlaxoSmithKline 2.8 per cent and Renata 0.1 per cent while Beximco Pharma gained 0.3 per cent and ACI Formulations 0.5 per cent.
In the Fuel and Power sector, Titas Gas lost 1.3 per cent, Power Grid 1.7 per cent and DESCO 1.3 per cent.