DSE general index crosses 2500-mark
Monday, 3 September 2007
FE Report
The benchmark DSE general index (DGEN) crossed the 2500-mark, a new milestone set Sunday amid bullish trading buoyed by banking sector issues.
The DGEN rose to 2516.724 points Sunday amid a rally of stock prices for the fifth consecutive day.
The DGEN, DS 20 and DSI indices gained 61.63 points, 37.52 points and 52.16 points on the day.
Earlier the DGEN crossed the 2400-mark for the second time on August 28 last. The benchmark index first crossed the 2400-mark on July 25 last.
All the market barometers gained on the back of banking sector issues and at one stage the DSE management halted the trading of two banks ,City Bank and Mutual Trust Bank, due to their unusual surge for a brief period.
The banking sector issues injected fresh enthusiasm among the investors when the government approved an amendment in the Banking Companies Act to double the capital to Tk two billion from existing Tk one billion.
"So the banks must offer bonus or rights to broaden the capital base, which is definitely a good news for the investors," a DSE source said.
Market operators said the strong buying support from retail, institutional and portfolio investors helped crossing new records on the DSE.
All but one banking issues out of 26 rose on the day.
The trading of City Bank and Mutual Trust Bank were halted for a brief period on the day when the former surged 14.95 per cent and the latter 12.04 per cent.
The trading of the two issues, however resumed after the market inquiry when the bourse management did not find any tangible reason from the managements of the banks concerned.
The total turnover, however, declined to Tk 1.804 billion from Tk 1.887 billion previously. The total market capitalisation rose to Tk 587.328 billion from Tk 575.153 billion.
Out of 195 traded issues, prices of 80 gained, 96 declined and 19 remained unchanged.
BRAC Bank was the turnover leader with traded shares worth Tk 204.727 million followed by Power Grid Tk 108.284 million, City Bank Tk 104.486 million, AB Bank Tk 93.410 million, Desco Tk 78.835 million, Prime Bank Tk 67.604 million, NBL Tk 62.837 million, One Bank Tk 60.455 million, Rupali Bank Tk 54.211 million and Mutual Trust Bank Limited (MTBL) Tk 54.063 million.
Prices of BRAC Bank gained 6.78 per cent to Tk 1122.00, City Bank 14.95 per cent to Tk 780.25, AB Bank 9.99 per cent to Tk 2387.25, NBL 6.62 per cent to Tk 1323.50, One Bank 11.84 per cent to Tk 420.25, Rupali Bank 1.74 per cent to Tk 1836.00, MTBL 12.04 per cent to Tk 481.25, Al Arafah Bank 7.68 per cent to Tk 343.50, Eastern Bank Limited (EBL) 12.74 per cent to Tk 1103.50, Dhaka Bank 3.14 per cent to Tk 599.25.
Power Grid declined 0.48 per cent 612.75, Desco 0.04 per cent to Tk 1141.75, Prime Bank 0.37 per cent to Tk 739.00,
Meanwhile, ISN Limited Company will be placed in "A" category from existing "Z" category with effect from today (Monday) as the company reported payment of cash dividend at 15 per cent for the year 2006.
The benchmark DSE general index (DGEN) crossed the 2500-mark, a new milestone set Sunday amid bullish trading buoyed by banking sector issues.
The DGEN rose to 2516.724 points Sunday amid a rally of stock prices for the fifth consecutive day.
The DGEN, DS 20 and DSI indices gained 61.63 points, 37.52 points and 52.16 points on the day.
Earlier the DGEN crossed the 2400-mark for the second time on August 28 last. The benchmark index first crossed the 2400-mark on July 25 last.
All the market barometers gained on the back of banking sector issues and at one stage the DSE management halted the trading of two banks ,City Bank and Mutual Trust Bank, due to their unusual surge for a brief period.
The banking sector issues injected fresh enthusiasm among the investors when the government approved an amendment in the Banking Companies Act to double the capital to Tk two billion from existing Tk one billion.
"So the banks must offer bonus or rights to broaden the capital base, which is definitely a good news for the investors," a DSE source said.
Market operators said the strong buying support from retail, institutional and portfolio investors helped crossing new records on the DSE.
All but one banking issues out of 26 rose on the day.
The trading of City Bank and Mutual Trust Bank were halted for a brief period on the day when the former surged 14.95 per cent and the latter 12.04 per cent.
The trading of the two issues, however resumed after the market inquiry when the bourse management did not find any tangible reason from the managements of the banks concerned.
The total turnover, however, declined to Tk 1.804 billion from Tk 1.887 billion previously. The total market capitalisation rose to Tk 587.328 billion from Tk 575.153 billion.
Out of 195 traded issues, prices of 80 gained, 96 declined and 19 remained unchanged.
BRAC Bank was the turnover leader with traded shares worth Tk 204.727 million followed by Power Grid Tk 108.284 million, City Bank Tk 104.486 million, AB Bank Tk 93.410 million, Desco Tk 78.835 million, Prime Bank Tk 67.604 million, NBL Tk 62.837 million, One Bank Tk 60.455 million, Rupali Bank Tk 54.211 million and Mutual Trust Bank Limited (MTBL) Tk 54.063 million.
Prices of BRAC Bank gained 6.78 per cent to Tk 1122.00, City Bank 14.95 per cent to Tk 780.25, AB Bank 9.99 per cent to Tk 2387.25, NBL 6.62 per cent to Tk 1323.50, One Bank 11.84 per cent to Tk 420.25, Rupali Bank 1.74 per cent to Tk 1836.00, MTBL 12.04 per cent to Tk 481.25, Al Arafah Bank 7.68 per cent to Tk 343.50, Eastern Bank Limited (EBL) 12.74 per cent to Tk 1103.50, Dhaka Bank 3.14 per cent to Tk 599.25.
Power Grid declined 0.48 per cent 612.75, Desco 0.04 per cent to Tk 1141.75, Prime Bank 0.37 per cent to Tk 739.00,
Meanwhile, ISN Limited Company will be placed in "A" category from existing "Z" category with effect from today (Monday) as the company reported payment of cash dividend at 15 per cent for the year 2006.