Dhaka stocks steady
FE Report | Wednesday, 9 July 2008
Dhaka stocks remained steady Tuesday after falling the previous day, with increase in the turnover.
The turnover rose on huge tradings of Keya Cosmetics and ACI.
Keya was the day's top turnover leader with Tk 248.10 million traded while ACI Limited was the second top turnover leader with shares worth Tk 240.59 million traded.
Keya Cosmetics rose 7.67 per cent to close at Tk 85.60 per share on the rumour that the company is going to sign agreements with foreign companies to export its products.
ACI Limited surged 11.02 per cent on the news of direct listing of its subsidiary-ACI Formulations Ltd.
Trading on the Dhaka Stock Exchange (DSE), however, opened somewhat in a downbeat mood from the very outset and the key index see-sawed towards close of the trade.
The benchmark DSE General Index (DGEN) marginally slipped 0.55 points to end at 2990.01. However, two other market barometers --All Shares Price Index (DSI) and DSE-20 Index (DS20) - gained 3.63 points and 15.56 points to close at 2567.74 and 2571.95 respectively.
The recent participation of the institutional investors, considered the major market player, in trading has become almost nil in the prime bourse due to present volatility in money market and waiting for market correction, said a source in the DSE.
Normally daily average investment of institutional investors is 60-65 per cent in the prime bourse.
On the other hand, according to the market operators, the market is a bit shaky because of lingering discomfort felt by the investors due to debate created by revision of mutual fund rules.
Stocks prices of all mutual funds, except only 5th ICB, experienced persistent fall since the Securities and Exchange Commission (SEC) decided in principle to review the mutual fund rules restricting the issuance of rights or bonus shares of mutual funds against the backdrop of the recent unusual price hike of such funds on speculation.
The total turnover rose to Tk 3.15 billion against the previous day's Tk 2.55 billion. The losers outshined the gainers as out of 228 issues traded, 104 advanced, 112 declined and 12 remained unchanged.
But the total market capitalisation slightly declined to Tk 973.44 billion against Tk 972.33 billion.
Stock prices of the state-run gas distribution company Titas fell 1.70 per cent to close at Tk 417.50 per share and its highest prices was Tk 424.75 per share on the day.
In its fifth trading day, a total of 97,800 shares out of total 21,411,728 have been sold at the both the stock exchanges - DSE and CSE, according to the selling agent ICB. The company has to sell 10 per cent of the total offloaded shares within 30 trading days since its debut trading day as per direct listing regulations.
Sonargaon Textiles posted the highest fall of 12.75 per cent, followed by Chittagong Vegetable 8.82 per cent, Bionic Food 6.52 per cent and Eastern Lubricant 5.99 per cent.
Beximco had the biggest gain of 12.52 per cent, followed by BATABC 10.21 per cent, Glaxo Smithkline 8.79 per cent and S Alam Cold Rolled Steel Mills Limited 8.42 per cent.
Lanka Bangla Finance, Square Pharma, Beximco, Prime Finance, AIMS First Mutual Fund, S Alam Cold Rolled Steels Mills Limited and Apex Adelchi were the other turnover leaders on the day.
The turnover rose on huge tradings of Keya Cosmetics and ACI.
Keya was the day's top turnover leader with Tk 248.10 million traded while ACI Limited was the second top turnover leader with shares worth Tk 240.59 million traded.
Keya Cosmetics rose 7.67 per cent to close at Tk 85.60 per share on the rumour that the company is going to sign agreements with foreign companies to export its products.
ACI Limited surged 11.02 per cent on the news of direct listing of its subsidiary-ACI Formulations Ltd.
Trading on the Dhaka Stock Exchange (DSE), however, opened somewhat in a downbeat mood from the very outset and the key index see-sawed towards close of the trade.
The benchmark DSE General Index (DGEN) marginally slipped 0.55 points to end at 2990.01. However, two other market barometers --All Shares Price Index (DSI) and DSE-20 Index (DS20) - gained 3.63 points and 15.56 points to close at 2567.74 and 2571.95 respectively.
The recent participation of the institutional investors, considered the major market player, in trading has become almost nil in the prime bourse due to present volatility in money market and waiting for market correction, said a source in the DSE.
Normally daily average investment of institutional investors is 60-65 per cent in the prime bourse.
On the other hand, according to the market operators, the market is a bit shaky because of lingering discomfort felt by the investors due to debate created by revision of mutual fund rules.
Stocks prices of all mutual funds, except only 5th ICB, experienced persistent fall since the Securities and Exchange Commission (SEC) decided in principle to review the mutual fund rules restricting the issuance of rights or bonus shares of mutual funds against the backdrop of the recent unusual price hike of such funds on speculation.
The total turnover rose to Tk 3.15 billion against the previous day's Tk 2.55 billion. The losers outshined the gainers as out of 228 issues traded, 104 advanced, 112 declined and 12 remained unchanged.
But the total market capitalisation slightly declined to Tk 973.44 billion against Tk 972.33 billion.
Stock prices of the state-run gas distribution company Titas fell 1.70 per cent to close at Tk 417.50 per share and its highest prices was Tk 424.75 per share on the day.
In its fifth trading day, a total of 97,800 shares out of total 21,411,728 have been sold at the both the stock exchanges - DSE and CSE, according to the selling agent ICB. The company has to sell 10 per cent of the total offloaded shares within 30 trading days since its debut trading day as per direct listing regulations.
Sonargaon Textiles posted the highest fall of 12.75 per cent, followed by Chittagong Vegetable 8.82 per cent, Bionic Food 6.52 per cent and Eastern Lubricant 5.99 per cent.
Beximco had the biggest gain of 12.52 per cent, followed by BATABC 10.21 per cent, Glaxo Smithkline 8.79 per cent and S Alam Cold Rolled Steel Mills Limited 8.42 per cent.
Lanka Bangla Finance, Square Pharma, Beximco, Prime Finance, AIMS First Mutual Fund, S Alam Cold Rolled Steels Mills Limited and Apex Adelchi were the other turnover leaders on the day.