Dhaka stocks' record-breaking rally continues
Monday, 25 October 2010
FE Report
Dhaka stocks soared one per cent Sunday, leading the benchmark index to hit nearly 7700-mark for the first time amid expectation of positive third quarter earnings.
The gain was led by fuel and power, non-banking financial institutions (NBFIs), textile, and telecommunications issues.
The benchmark DSE General Index (DGEN) surged by 1.10 per cent or 84.31 points to close at 7699.68, which was a new high. The broader All Shares
Price Index (DSI) gained 1.29 per cent or 81.71 points to 6408.19. The DSE-20 Index comprising blue chips moved up by 0.27 per cent or 11.97 points to 4407.40.
"Anticipation of positive third quarter earnings has sent the market to a new high," said Rezaul Haque, head of merchant banking division of Prime Finance and Investment Ltd.
Grameenphone gained 1.13 per cent, following its interim 35 per cent cash dividend declaration.
Fuel and power - the third largest sector in DSE - continued to flex its muscle, as it ended 3.01 per cent higher to emerge as the top gaining sector.
NBFIs rose 1.15 per cent, while banks, with more than one-third of the market capitalisation, closed flat.
Total turnover increased slightly to Tk 24.4 billion from the previous session's Tk 24.2 billion. Out of 242 issues traded, 149 advanced, 88 declined and six remained unchanged.
Titas Gas set the positive tone with its third quarter earning, and emerged as the top turnover leader with shares worth Tk 1.39 billion traded. Last week, the company announced 25 per cent cash dividend and 10 per cent stock dividend for the year ending on June 30, 2010.
Other turnover leaders were Prime Finance, Peoples Leasing, Lanka Bangla Finance, Exim Bank, RN Spinning, Summit Power and United Commercial Bank Limited.
Mithun Knitting was the top gainer, posting a rise of 14.95 per cent, followed by Monno Ceramics, Phoenix Insurance, Prime Insurance, Dulamia Cotton, DBH and Standard Ceramics.
The prominent losers included Sonali Aansh, Sonargaon Textile, Titas Gas, Padma Oil, Pharma Aid, Standard Insurance, NTC and Bay Leasing.
Dhaka stocks soared one per cent Sunday, leading the benchmark index to hit nearly 7700-mark for the first time amid expectation of positive third quarter earnings.
The gain was led by fuel and power, non-banking financial institutions (NBFIs), textile, and telecommunications issues.
The benchmark DSE General Index (DGEN) surged by 1.10 per cent or 84.31 points to close at 7699.68, which was a new high. The broader All Shares
Price Index (DSI) gained 1.29 per cent or 81.71 points to 6408.19. The DSE-20 Index comprising blue chips moved up by 0.27 per cent or 11.97 points to 4407.40.
"Anticipation of positive third quarter earnings has sent the market to a new high," said Rezaul Haque, head of merchant banking division of Prime Finance and Investment Ltd.
Grameenphone gained 1.13 per cent, following its interim 35 per cent cash dividend declaration.
Fuel and power - the third largest sector in DSE - continued to flex its muscle, as it ended 3.01 per cent higher to emerge as the top gaining sector.
NBFIs rose 1.15 per cent, while banks, with more than one-third of the market capitalisation, closed flat.
Total turnover increased slightly to Tk 24.4 billion from the previous session's Tk 24.2 billion. Out of 242 issues traded, 149 advanced, 88 declined and six remained unchanged.
Titas Gas set the positive tone with its third quarter earning, and emerged as the top turnover leader with shares worth Tk 1.39 billion traded. Last week, the company announced 25 per cent cash dividend and 10 per cent stock dividend for the year ending on June 30, 2010.
Other turnover leaders were Prime Finance, Peoples Leasing, Lanka Bangla Finance, Exim Bank, RN Spinning, Summit Power and United Commercial Bank Limited.
Mithun Knitting was the top gainer, posting a rise of 14.95 per cent, followed by Monno Ceramics, Phoenix Insurance, Prime Insurance, Dulamia Cotton, DBH and Standard Ceramics.
The prominent losers included Sonali Aansh, Sonargaon Textile, Titas Gas, Padma Oil, Pharma Aid, Standard Insurance, NTC and Bay Leasing.