DSE benchmark index tumbles to one yr low
FE Report | Wednesday, 20 August 2008
The benchmark DGEN index Tuesday went down below 2600-mark as the investors' confidence on the stock market continued to erode.
Being worried about the continuous slide trend of the market, the Securities and Exchange Commission (SEC) will sit today (Wednesday) with the leading merchant bankers in order to find ways to arrest the downtrend of the market, sources said.
The Dhaka Stock Exchange (DSE) General Index (DGEN) tumbled 1.80 per cent or 47.32 points to end at 2571.62, its lowest level in almost one year.
The two other market barometers -- All Shares Price Index (DSI) and DSE-20 Index (DS20), blue chips also lost 39.21 points and 25.29 points to end at 2215.47 and 2320.67 respectively.
"The market continued to slump as the confidence crisis created by multiple reasons has pushed up the selling pressure," Mahmood Osman Imam, professor of finance department of Dhaka University said.
He added that the merchant bankers rather than securities regulator can play a pivotal role to restore the investor's confidence, which might help bring the market back on track.
"The market is not expected the intervention of regulators. It is better to let the market flow in its own course," said Imam, also a capital market analyst.
The total turnover continued to decline to Tk 1.85 billion against previous Tk 1.87 billion. The top ten gaining companies accounted for 50 per cent of the total turnover.
But the losers took a strong lead over the gainers as out of 229 issues traded, 28 gained, 189 declined and 12 remained unchanged. However, the total market capitalisation slightly decreased to Tk 913.07 billion from previous Tk 925.53 billion.
Stock prices of Titas Gas fell 0.84 per cent to close at Tk 352.75 per share, making it the top turnover leader with shares worth Tk 184.46 million traded. It accounted for more than nine per cent of the total turnover on the day.
Beximco Pharma was the second turnover leader with shares worth Tk 126.05 million changing hands.
Beximco Limited, Keya Cosmetics, Square Pharma, Lanka Bangla Finance Limited, ACI Limited, Uttara Bank, BATBC and Islmi Bank were the other top turnover leaders on the day.
Modern Industries had the biggest gain of 17.29 per cent, followed by Lexco of 4.54 per cent, BD Com 4.42 per cent and Alamin Chemicals 4.34 percent.
Kay and Que, Legacy Foot Wears, Global Life Insurance and Excelsior Shoes were the top losers on the day.
Being worried about the continuous slide trend of the market, the Securities and Exchange Commission (SEC) will sit today (Wednesday) with the leading merchant bankers in order to find ways to arrest the downtrend of the market, sources said.
The Dhaka Stock Exchange (DSE) General Index (DGEN) tumbled 1.80 per cent or 47.32 points to end at 2571.62, its lowest level in almost one year.
The two other market barometers -- All Shares Price Index (DSI) and DSE-20 Index (DS20), blue chips also lost 39.21 points and 25.29 points to end at 2215.47 and 2320.67 respectively.
"The market continued to slump as the confidence crisis created by multiple reasons has pushed up the selling pressure," Mahmood Osman Imam, professor of finance department of Dhaka University said.
He added that the merchant bankers rather than securities regulator can play a pivotal role to restore the investor's confidence, which might help bring the market back on track.
"The market is not expected the intervention of regulators. It is better to let the market flow in its own course," said Imam, also a capital market analyst.
The total turnover continued to decline to Tk 1.85 billion against previous Tk 1.87 billion. The top ten gaining companies accounted for 50 per cent of the total turnover.
But the losers took a strong lead over the gainers as out of 229 issues traded, 28 gained, 189 declined and 12 remained unchanged. However, the total market capitalisation slightly decreased to Tk 913.07 billion from previous Tk 925.53 billion.
Stock prices of Titas Gas fell 0.84 per cent to close at Tk 352.75 per share, making it the top turnover leader with shares worth Tk 184.46 million traded. It accounted for more than nine per cent of the total turnover on the day.
Beximco Pharma was the second turnover leader with shares worth Tk 126.05 million changing hands.
Beximco Limited, Keya Cosmetics, Square Pharma, Lanka Bangla Finance Limited, ACI Limited, Uttara Bank, BATBC and Islmi Bank were the other top turnover leaders on the day.
Modern Industries had the biggest gain of 17.29 per cent, followed by Lexco of 4.54 per cent, BD Com 4.42 per cent and Alamin Chemicals 4.34 percent.
Kay and Que, Legacy Foot Wears, Global Life Insurance and Excelsior Shoes were the top losers on the day.