Dhaka stocks rally amid steady turnover
FE Report | Monday, 14 July 2008
Dhaka stocks rallied Sunday led by blue chips for the second consecutive session amid steady turnover.
Trading at the Dhaka Stock Exchange (DSE) started positively and the key index briefly crossed the 3000-mark in the first hour of the trade. Later, it shed some points towards close of the trade.
All the market barometers -- the benchmark DSE General Index (DGEN), All Shares Price Index (DSI) and DSE-20 Index (DS20), blue chips, gained 11.21 points, 8.10 points and 45.42 points to end at 2993.21, 2577.44 and 2638.99 respectively.
"After nearly three weeks, when the market lost the rhythm due mainly to debate over revision of mutual fund rules, it returned to normalcy on the day," said a stock broker.
The continued rally of the blue chips index indicated that the investors are putting their funds on companies with good fundamentals, a positive sign for the market, he added.
The total turnover, powered by gainers, declined slightly to Tk 3.13 billion against the previous day's Tk 3.27 billion.
The gainers outshined the losers as out of 232 issues traded, 124 advanced, 99 declined and nine remained unchanged. The total market capitalisation increased to Tk 980.76 billion against Tk 973.92 billion.
Stock prices of the state-run gas distribution company Titas continued to fall with 1.44 per cent drop to close at Tk 374.00 per share.
In its eighth trading day, a total of 109,750 shares out of total 21,411,728 have been sold on both the stock exchanges - DSE and CSE, according to the selling agent ICB.
The company has to sell its 10 per cent of the total offloaded shares within 30 trading days since its debut trading day as per direct listing regulations.
Share prices of Kay and Que, the top gainer, rose 13.22 per cent to close at Tk 387.50 a share on the rumour that the company is going to sign an agreement with a foreign company to export its products.
The Mona Food had the second biggest gain of 11.81 per cent, followed by Sonargaon Textile 8.88 per cent, Metro Spinning 8.60 per cent and Green Delta 8.14 per cent.
Stock prices of the Beximco Pharma, the sixth gainer, fell 1.69 per cent to close at Tk 104.70 per share. Bit it was the top turnover leader with shares worth Tk 252.68 million traded.
Square Pharma, Apex Adelchi , ACI Limited, Keya Cosmetics, Lanka Bangla Finance, Keya Cosmetics, Beximco, BOC, Square Textile and Lafarge Surma Cement Limited were the other turnover leaders on the day.
National Life Insurance, City Bank, Chittagong Vegetable, 1st BSRS, Meghna Life Insurance, HR Textile and Janata Insurance were the top losers.
Meanwhile, trading at the Chittagong Stock Exchange (CSE) closed higher on the day with the gainers dominating the losers.
Trading at the Dhaka Stock Exchange (DSE) started positively and the key index briefly crossed the 3000-mark in the first hour of the trade. Later, it shed some points towards close of the trade.
All the market barometers -- the benchmark DSE General Index (DGEN), All Shares Price Index (DSI) and DSE-20 Index (DS20), blue chips, gained 11.21 points, 8.10 points and 45.42 points to end at 2993.21, 2577.44 and 2638.99 respectively.
"After nearly three weeks, when the market lost the rhythm due mainly to debate over revision of mutual fund rules, it returned to normalcy on the day," said a stock broker.
The continued rally of the blue chips index indicated that the investors are putting their funds on companies with good fundamentals, a positive sign for the market, he added.
The total turnover, powered by gainers, declined slightly to Tk 3.13 billion against the previous day's Tk 3.27 billion.
The gainers outshined the losers as out of 232 issues traded, 124 advanced, 99 declined and nine remained unchanged. The total market capitalisation increased to Tk 980.76 billion against Tk 973.92 billion.
Stock prices of the state-run gas distribution company Titas continued to fall with 1.44 per cent drop to close at Tk 374.00 per share.
In its eighth trading day, a total of 109,750 shares out of total 21,411,728 have been sold on both the stock exchanges - DSE and CSE, according to the selling agent ICB.
The company has to sell its 10 per cent of the total offloaded shares within 30 trading days since its debut trading day as per direct listing regulations.
Share prices of Kay and Que, the top gainer, rose 13.22 per cent to close at Tk 387.50 a share on the rumour that the company is going to sign an agreement with a foreign company to export its products.
The Mona Food had the second biggest gain of 11.81 per cent, followed by Sonargaon Textile 8.88 per cent, Metro Spinning 8.60 per cent and Green Delta 8.14 per cent.
Stock prices of the Beximco Pharma, the sixth gainer, fell 1.69 per cent to close at Tk 104.70 per share. Bit it was the top turnover leader with shares worth Tk 252.68 million traded.
Square Pharma, Apex Adelchi , ACI Limited, Keya Cosmetics, Lanka Bangla Finance, Keya Cosmetics, Beximco, BOC, Square Textile and Lafarge Surma Cement Limited were the other turnover leaders on the day.
National Life Insurance, City Bank, Chittagong Vegetable, 1st BSRS, Meghna Life Insurance, HR Textile and Janata Insurance were the top losers.
Meanwhile, trading at the Chittagong Stock Exchange (CSE) closed higher on the day with the gainers dominating the losers.