Dhaka stocks perk up
FE Report | Thursday, 21 August 2008
Dhaka stocks perked up Wednesday boosted by the news of price stabilisation measures to be taken by the securities regulator.
The Dhaka Stock Exchange (DSE), which has been suffering from a long bearish spell due to lack of confidence, began with an optimistic tone from the very outset of the trading, pushing the main index up more than 70 points in mid-session.
Later, it shed some points towards close of the trade because investors were in doubt about the positive outcome of the meeting held between Securities and Exchange Commission (SEC), merchant bankers and leading brokerage houses to bring confidence back to the market.
The benchmark DSE General Index (DGEN), All Shares Price Index (DSI) and DSE-20 Index (DS20), the blue chips, climbed 49.11 points, 38.85 points and 21.04 points to end at 2620.73, 2254.33 and 2341.72 respectively.
The news that the Commission may take confidence-building measures after the day's pre-scheduled meeting with different stakeholders has driven the investors to chase the stocks to book the profit in future, which has sent the market into the green, according to the market operators.
"Unless any policy measures are taken to restore the confidence, the market will not be sustainable as the low volume indicated that," said an analyst.
The total turnover slightly rose to Tk 1.95 billion against the previous day's Tk 1.85 billion. The top ten gaining companies accounted for 46 per cent of the total turnover.
The gainers took a strong lead over the losers as out of 225 issues traded, 173 advanced, 42 declined and 10 remained unchanged.
The Dhaka Stock Exchange (DSE), which has been suffering from a long bearish spell due to lack of confidence, began with an optimistic tone from the very outset of the trading, pushing the main index up more than 70 points in mid-session.
Later, it shed some points towards close of the trade because investors were in doubt about the positive outcome of the meeting held between Securities and Exchange Commission (SEC), merchant bankers and leading brokerage houses to bring confidence back to the market.
The benchmark DSE General Index (DGEN), All Shares Price Index (DSI) and DSE-20 Index (DS20), the blue chips, climbed 49.11 points, 38.85 points and 21.04 points to end at 2620.73, 2254.33 and 2341.72 respectively.
The news that the Commission may take confidence-building measures after the day's pre-scheduled meeting with different stakeholders has driven the investors to chase the stocks to book the profit in future, which has sent the market into the green, according to the market operators.
"Unless any policy measures are taken to restore the confidence, the market will not be sustainable as the low volume indicated that," said an analyst.
The total turnover slightly rose to Tk 1.95 billion against the previous day's Tk 1.85 billion. The top ten gaining companies accounted for 46 per cent of the total turnover.
The gainers took a strong lead over the losers as out of 225 issues traded, 173 advanced, 42 declined and 10 remained unchanged.