Dhaka stocks slip amid steady turnover
FE Report | Wednesday, 16 July 2008
Dhaka stocks slipped Tuesday for the second consecutive session with the benchmark DGEN sliding below the preceding four-month low, amid steady turnover.
Trading at the Dhaka Stock Exchange (DSE) was in the positive territory for the first five minutes and later, before recovering some points towards close of the trade, it started to dip losing around 40 points in mid session.
The benchmark DSE General Index (DGEN) lost 30.17 points to close at 2939.18, a record fall in four and half month since March 3 this year.
Two other market barometers -- All Shares Price Index (DSI) and DSE-20 Index (DS20), blue chips, shed 19.29 points and 9.66 points to end at 2536.20 and 2626.24 respectively.
The market went into the red on the day as some factors like the web of shock due to the Bangladesh Bank (BB)' directive to close the operation of AB Bank Foundation within next three months and persistent bearish trend have gripped the market, making the investors somewhat unnerved, according to a market analyst.
AB Bank Foundation, the brokerage house of the AB Bank, is one of the top three brokerage houses in the DSE in recent years.
The low turnover indicated that the market saw more selling than buying, meaning the investors are not reinvesting their funds for fear of further losses due to the current bearish trend, he added.
The total turnover slightly rose to Tk 2.72 billion against the previous day's Tk 2.71 billion.
The losers outshined the gainers as out of 236 issues traded, 72 advanced, 151 declined and 13 remained unchanged. The total market capitalisation also came down to Tk 968.65 billion against Tk 974.04 billion.
Stock prices of the state-run gas distribution company Titas posted a persistent fall of 5.35 per cent to close at Tk 340.25 per share.
In its tenth trading day, a total of 118750 shares out of total 2,141,728 have been sold at the both the stock exchanges - DSE and CSE, according to the selling agent ICB.
Stock prices of Beximco Pharma rose 1.88 per cent to close at Tk 102.70 per share, making it the top turnover leader with shares worth Tk 195.09 million traded.
ACI Limited, Square Pharma, Beximco, Apex Adelchi, Lafarge Surma Cement Limited, BATBC, Grameen One Mutual Fund, Bata Shoe and AIMS First Mutual Fund were the other top turnover leaders on the day.
Grameen One Mutual Fund had the biggest fall of 15.04 per cent, followed by 1st BSRS, Shinepukur Holdings Limited, Dandy Dyeing, AIMS First Mutual Fund, and AB Bank.
The top ten gainers were Beximco, Rahima Food, Rose Heaven Ball, BIFC, BD Thai, Agni System Limited, Berger Paints Bangladesh Limited, Monno Ceramic and Padma Printers.
Trading at the Dhaka Stock Exchange (DSE) was in the positive territory for the first five minutes and later, before recovering some points towards close of the trade, it started to dip losing around 40 points in mid session.
The benchmark DSE General Index (DGEN) lost 30.17 points to close at 2939.18, a record fall in four and half month since March 3 this year.
Two other market barometers -- All Shares Price Index (DSI) and DSE-20 Index (DS20), blue chips, shed 19.29 points and 9.66 points to end at 2536.20 and 2626.24 respectively.
The market went into the red on the day as some factors like the web of shock due to the Bangladesh Bank (BB)' directive to close the operation of AB Bank Foundation within next three months and persistent bearish trend have gripped the market, making the investors somewhat unnerved, according to a market analyst.
AB Bank Foundation, the brokerage house of the AB Bank, is one of the top three brokerage houses in the DSE in recent years.
The low turnover indicated that the market saw more selling than buying, meaning the investors are not reinvesting their funds for fear of further losses due to the current bearish trend, he added.
The total turnover slightly rose to Tk 2.72 billion against the previous day's Tk 2.71 billion.
The losers outshined the gainers as out of 236 issues traded, 72 advanced, 151 declined and 13 remained unchanged. The total market capitalisation also came down to Tk 968.65 billion against Tk 974.04 billion.
Stock prices of the state-run gas distribution company Titas posted a persistent fall of 5.35 per cent to close at Tk 340.25 per share.
In its tenth trading day, a total of 118750 shares out of total 2,141,728 have been sold at the both the stock exchanges - DSE and CSE, according to the selling agent ICB.
Stock prices of Beximco Pharma rose 1.88 per cent to close at Tk 102.70 per share, making it the top turnover leader with shares worth Tk 195.09 million traded.
ACI Limited, Square Pharma, Beximco, Apex Adelchi, Lafarge Surma Cement Limited, BATBC, Grameen One Mutual Fund, Bata Shoe and AIMS First Mutual Fund were the other top turnover leaders on the day.
Grameen One Mutual Fund had the biggest fall of 15.04 per cent, followed by 1st BSRS, Shinepukur Holdings Limited, Dandy Dyeing, AIMS First Mutual Fund, and AB Bank.
The top ten gainers were Beximco, Rahima Food, Rose Heaven Ball, BIFC, BD Thai, Agni System Limited, Berger Paints Bangladesh Limited, Monno Ceramic and Padma Printers.