Dhaka stocks steady after 3 sessions' fall
FE Report | Friday, 18 July 2008
Dhaka stocks remained steady Thursday after a fall of three sessions in a row amid higher turnover.
Trading on the Dhaka Stock Exchange (DSE) started with positive sentiment that persisted almost throughout the whole session pushing the benchmark nearly 50 points up in the first hour.
But the index fell at close of trade because of a sale pressure by the retail investors, which has surprised many.
Meanwhile, the Securities and Exchange Commission sits with DSE and merchant bankers to review the present market situation.
All the market barometers -- the benchmark DSE General Index (DGEN), All Shares Price Index (DSI) and DSE-20 Index (DS20), blue chips, -- slightly fell 2.71 points, 5.87 points and 1.87 points to end at 2889.35, 2501.44 and 2602.15 respectively.
Commenting on the market, a capital market analyst said: "I am really surprised about the today's market behaviour."
Having been confused and unnerved in the event of various moves by the securities regulator and the bourse, the retail investors sold shares to avoid further losses, said a stock broker.
"Some might attempt to jack up the market artificially, but it could not sustain as the current negative sentiment of the market works in investor's mind," said a source requesting not to be named.
The total turnover rose to Tk 2.75 billion from previous day's Tk 2.56 billion.
Out of 230 issues traded, 103 gained, 114 declined and 13 remained unchanged. The total market capitalisation also increased to Tk 969.35 billion from Tk 959.80 billion previously.
Beximco Fisheries, a Z-category issue, posted the biggest gain of 18.07 per cent, followed by Shinepukur Holdings Limited 14.03 per cent, Beximco 9.56 per cent, BD Plant 6.85 per cent, Beximco Pharma 6.32 per cent and AIMS First Mutual Fund 6.26 per cent.
Reversing its declining trend, stock prices of the state-run gas distribution company Titas rose 1.18 per cent to close at Tk 319.25 per share.
In its 12th trading day, 129,000 shares out of total 2,141,728 were sold on both the stock exchanges - DSE and CSE, according to the ICB, the sale agent.
Trading on the Dhaka Stock Exchange (DSE) started with positive sentiment that persisted almost throughout the whole session pushing the benchmark nearly 50 points up in the first hour.
But the index fell at close of trade because of a sale pressure by the retail investors, which has surprised many.
Meanwhile, the Securities and Exchange Commission sits with DSE and merchant bankers to review the present market situation.
All the market barometers -- the benchmark DSE General Index (DGEN), All Shares Price Index (DSI) and DSE-20 Index (DS20), blue chips, -- slightly fell 2.71 points, 5.87 points and 1.87 points to end at 2889.35, 2501.44 and 2602.15 respectively.
Commenting on the market, a capital market analyst said: "I am really surprised about the today's market behaviour."
Having been confused and unnerved in the event of various moves by the securities regulator and the bourse, the retail investors sold shares to avoid further losses, said a stock broker.
"Some might attempt to jack up the market artificially, but it could not sustain as the current negative sentiment of the market works in investor's mind," said a source requesting not to be named.
The total turnover rose to Tk 2.75 billion from previous day's Tk 2.56 billion.
Out of 230 issues traded, 103 gained, 114 declined and 13 remained unchanged. The total market capitalisation also increased to Tk 969.35 billion from Tk 959.80 billion previously.
Beximco Fisheries, a Z-category issue, posted the biggest gain of 18.07 per cent, followed by Shinepukur Holdings Limited 14.03 per cent, Beximco 9.56 per cent, BD Plant 6.85 per cent, Beximco Pharma 6.32 per cent and AIMS First Mutual Fund 6.26 per cent.
Reversing its declining trend, stock prices of the state-run gas distribution company Titas rose 1.18 per cent to close at Tk 319.25 per share.
In its 12th trading day, 129,000 shares out of total 2,141,728 were sold on both the stock exchanges - DSE and CSE, according to the ICB, the sale agent.