DSE creates new mark amid volatile trading
Monday, 14 December 2009
FE Report
Dhaka stocks closed slightly higher amid volatile trading Sunday, although the benchmark index extended record-breaking rally for the second straight session thanks to a rebound by Grameenphone.
The market opened sharply in the morning, rising 36 points before going down in the negative territory for a brief period in the final hour as investors booked profit on some of leading banking stocks.
It bounced back in the final 20 minutes and ended marginally higher, boosted by a late comeback by Grameenphone, the most weighted shares in the market.
The benchmark DSE General Index (DGEN) finished at 4438.50, which is a new high, with a meager gain of 0.77 points or 0.01 per cent.
The broader DSE All Shares Price Index (DSI) shed 5.30 points or 0.20 per cent to 3685.13 while the DSE-20 blue chip index rose 5.30 points or 0.20 per cent to 2555.42.
Winners surpassed the losers as out of 234 issues traded, 76 moved into the positive territory, 155 ended into negative and three remained unchanged.
"Both the profit-takers and buyers were active on the day, making the market volatile," said a stockbroker.
A modest rally by banking, pharmaceuticals and GP stocks offset the fall in other sectors, helping the market to close to a new high, said BRAC-EPL, an investment bank in its market analysis.
The banking sector, the market's bellwether, continued to dominate trading, as the sector edged 0.56 per cent higher. However, some banking issues fell on profit-taking.
The non-banking financial institutions (NBFIs) sector lost, reversing the previous session's gain. The mutual funds finished mixed with the sector declining by 0.32 per cent.
The Grameenphone rebounded with a rise of 1.42 per cent to close at Tk 171.60 after losing ground in the previous day.
Dhaka stocks closed slightly higher amid volatile trading Sunday, although the benchmark index extended record-breaking rally for the second straight session thanks to a rebound by Grameenphone.
The market opened sharply in the morning, rising 36 points before going down in the negative territory for a brief period in the final hour as investors booked profit on some of leading banking stocks.
It bounced back in the final 20 minutes and ended marginally higher, boosted by a late comeback by Grameenphone, the most weighted shares in the market.
The benchmark DSE General Index (DGEN) finished at 4438.50, which is a new high, with a meager gain of 0.77 points or 0.01 per cent.
The broader DSE All Shares Price Index (DSI) shed 5.30 points or 0.20 per cent to 3685.13 while the DSE-20 blue chip index rose 5.30 points or 0.20 per cent to 2555.42.
Winners surpassed the losers as out of 234 issues traded, 76 moved into the positive territory, 155 ended into negative and three remained unchanged.
"Both the profit-takers and buyers were active on the day, making the market volatile," said a stockbroker.
A modest rally by banking, pharmaceuticals and GP stocks offset the fall in other sectors, helping the market to close to a new high, said BRAC-EPL, an investment bank in its market analysis.
The banking sector, the market's bellwether, continued to dominate trading, as the sector edged 0.56 per cent higher. However, some banking issues fell on profit-taking.
The non-banking financial institutions (NBFIs) sector lost, reversing the previous session's gain. The mutual funds finished mixed with the sector declining by 0.32 per cent.
The Grameenphone rebounded with a rise of 1.42 per cent to close at Tk 171.60 after losing ground in the previous day.