DSE general index crosses 2600-mark
Tuesday, 11 September 2007
FE Report
The benchmark DSE general index (DGEN) crossed the 2600-mark, a new milestone set Monday amid bullish trading buoyed by banking, insurance and pharmaceuticals sector issues.
The DGEN rose to 2600.633 points amid mixed trends of stock prices on the day. The indices on DSE showed a mixed trend after nine days' of rallying in a row.
The benchmark index first crossed the 2500-mark September 2 and the 2400-mark on July 25 last.
DSE-20 (DS20) and DGEN gained 1.067 points and 0.942 points to close at 2081.574 and 2600.633 respectively. But, All Shares Price Index (DSI) declined 6.879 points to 2152.383.
The banking sector issues brought 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 cross new records on the DSE.
When asked an official of the Bangladesh Insurance Association (BIA) said, recently the finance adviser assured that the existing Insurance Act will be amended and the sector will be transferred to the finance ministry from commerce ministry.
"If it is done the paid-up capital might be raised. This sort of information might affect the prices of insurance on the DSE," he said.
Among the insurance issues prices of Peoples Life Insurance gained significantly at 14.43 per cent to close at 481.50.
When asked an official of the Peoples Insurance Company said there was no price sensitive information of the company.
"The Annual General Meeting (AGM) for 2006 of the company will be held October 25 next. We are not announcing any dividend for 2006," the official told the FE.
The benchmark DSE general index (DGEN) crossed the 2600-mark, a new milestone set Monday amid bullish trading buoyed by banking, insurance and pharmaceuticals sector issues.
The DGEN rose to 2600.633 points amid mixed trends of stock prices on the day. The indices on DSE showed a mixed trend after nine days' of rallying in a row.
The benchmark index first crossed the 2500-mark September 2 and the 2400-mark on July 25 last.
DSE-20 (DS20) and DGEN gained 1.067 points and 0.942 points to close at 2081.574 and 2600.633 respectively. But, All Shares Price Index (DSI) declined 6.879 points to 2152.383.
The banking sector issues brought 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 cross new records on the DSE.
When asked an official of the Bangladesh Insurance Association (BIA) said, recently the finance adviser assured that the existing Insurance Act will be amended and the sector will be transferred to the finance ministry from commerce ministry.
"If it is done the paid-up capital might be raised. This sort of information might affect the prices of insurance on the DSE," he said.
Among the insurance issues prices of Peoples Life Insurance gained significantly at 14.43 per cent to close at 481.50.
When asked an official of the Peoples Insurance Company said there was no price sensitive information of the company.
"The Annual General Meeting (AGM) for 2006 of the company will be held October 25 next. We are not announcing any dividend for 2006," the official told the FE.