Dhaka stocks slip for fifth straight day
Monday, 23 March 2009
FE Report
Dhaka stocks continued to fall for the fifth straight day Sunday amid heavy price fluctuations.
Before beginning to decline in the very first hour of trade, the benchmark index of the Dhaka Stock Exchange (DSE) rose 40 points.
The benchmark DSE General Index (DGEN) began the day with a gain of more than 40 points, but closed 32.20 points down at 2590.56. Thus the total intra-day volatility on the day accounted for more than 70 points.
The market fell across the board but the banking stocks, which continued to lose their shine over the past one year, registered a moderate rise on the day, stockbrokers said.
"The share prices of banking issues moved up after a long time on the news that six companies including five banks were added to the newly-introduced Dow Jones SAFE 100 Index," said a stockbroker.
Former economic policymakers at a meeting with the finance minister Saturday advised the government to allow undisclosed money to be invested in bonds, meaning that undisclosed money will not be invested in the share market.
This news also contributed to the fall of the market on the day, market sources said.
The DSE All Shares Price Index (DSI) ended at 2148.16 with a drop of 31.10 points and the DSE-20 blue chip index finished at 2059.50 with a loss of 9.88 points.
The turnover declined to Tk 5.67 billion from Tk 6.48 billion of Thursday. The market capitalisation stood at Tk 1.04 trillion.
Out of a total of 245 issues traded, 69 gained, 169 declined and seven remained unchanged.
Summit Power was the top turnover leader with shares worth Tk 403.41 million traded.
The next other turnover leaders were Beximco, Titas Gas, Beximco Pharma, EHL, S Alam Cold Rolled Steel Mills Limited, Jamuna Oil, DESCO and BSRM Steels Limited.
The day's top gainers were Nitol Insurance, Ist BSRS, Pubali Bank, Dutch-Bangla Bank, 5th ICB, BGIC, Sonargaon Textile, Modern Dyeing, Southeast Bank and AB Bank.
The day's top losers were Jamuna Oil, Meghna Petroleum, Mithun Knitting, Safko Spinning, Saiham Textile and Apex Tannery.
Dhaka stocks continued to fall for the fifth straight day Sunday amid heavy price fluctuations.
Before beginning to decline in the very first hour of trade, the benchmark index of the Dhaka Stock Exchange (DSE) rose 40 points.
The benchmark DSE General Index (DGEN) began the day with a gain of more than 40 points, but closed 32.20 points down at 2590.56. Thus the total intra-day volatility on the day accounted for more than 70 points.
The market fell across the board but the banking stocks, which continued to lose their shine over the past one year, registered a moderate rise on the day, stockbrokers said.
"The share prices of banking issues moved up after a long time on the news that six companies including five banks were added to the newly-introduced Dow Jones SAFE 100 Index," said a stockbroker.
Former economic policymakers at a meeting with the finance minister Saturday advised the government to allow undisclosed money to be invested in bonds, meaning that undisclosed money will not be invested in the share market.
This news also contributed to the fall of the market on the day, market sources said.
The DSE All Shares Price Index (DSI) ended at 2148.16 with a drop of 31.10 points and the DSE-20 blue chip index finished at 2059.50 with a loss of 9.88 points.
The turnover declined to Tk 5.67 billion from Tk 6.48 billion of Thursday. The market capitalisation stood at Tk 1.04 trillion.
Out of a total of 245 issues traded, 69 gained, 169 declined and seven remained unchanged.
Summit Power was the top turnover leader with shares worth Tk 403.41 million traded.
The next other turnover leaders were Beximco, Titas Gas, Beximco Pharma, EHL, S Alam Cold Rolled Steel Mills Limited, Jamuna Oil, DESCO and BSRM Steels Limited.
The day's top gainers were Nitol Insurance, Ist BSRS, Pubali Bank, Dutch-Bangla Bank, 5th ICB, BGIC, Sonargaon Textile, Modern Dyeing, Southeast Bank and AB Bank.
The day's top losers were Jamuna Oil, Meghna Petroleum, Mithun Knitting, Safko Spinning, Saiham Textile and Apex Tannery.