DSE record-breaking rally continues
Tuesday, 24 November 2009
FE Report
Dhaka stocks extended their record-breaking rally Monday for the second straight session as the banking issues continued to buoy the investors' sentiment.
The DSE General Index (DGEN) rose 70.92 points or 1.68 per cent to a new high of 4273.91, lifted by banks, energy and pharmaceutical issues.
The new mark beat 4203.08 set on previous day. On Monday, the market opened with positive note and it climbed steadily before close, as investors continued to bet on the banking companies ahead of their year-end account closing.
The broader DSE All Shares Price Index (DSI) ended with a gain of 58.84 points or 1.68 per cent at 3546.64. The DSE-20 blue chip index moved up 82.18 points or 3.42 per cent to 2296.85.
The gainers took a modest gain over the losers as out of 234 issues traded, 122 gained, 108 declined and four remained unchanged.
Shares of the country's telecom giant Grameenphone rallied 1.68 per cent to close at Tk 168.50 per share.
Dealers said the underlying sentiment in the market was strong despite some credit tightening measures by the securities regulator.
"Investors took the index to a new high thanks mainly to the continuous shining of the banking issues that rose four per cent," a stockbroker said adding that they have been heartened by better outlooks from the companies.
Transaction of volume continued to increase as daily turnover stood at Tk 10.59 billion, an increase of 12 per cent over the previous session.
Most of the non-banking financial institutions declined. The mutual fund, three of them gained more than five per cent but the sector was marginally down.
The pharmaceutical companies, cement, all companies of the Beximco Group and energy stocks edged higher
Most of the general Insurance companies and life insurance companies ended lower.
Beximco, the flagship company of the industrial conglomerate Beximco Group, was the top turnover leader with shares worth Tk 661.15 million changing hands as it reported its third quarter net profit stood at Tk 3345.38 million.
AB Bank, Titas Gas, Power Grid, Square Pharma, Social Investment Bank Ltd (SIBL), City Bank, Jamuna Oil, National Bank Ltd (NBL) and Bextex were the other leading turnover leaders.
Dhaka Bank was the largest gainer registering a rise of 9.54 per cent, followed by NBL 8.27 per cent, Marico 7.80 per cent, City Bank 7.68 per cent, Glaxo SmithKline 6.89 per cent and Trust Bank 6.70 per cent.
Samata Leather dropped 7.16 per cent, the day's highest loser.
Dhaka stocks extended their record-breaking rally Monday for the second straight session as the banking issues continued to buoy the investors' sentiment.
The DSE General Index (DGEN) rose 70.92 points or 1.68 per cent to a new high of 4273.91, lifted by banks, energy and pharmaceutical issues.
The new mark beat 4203.08 set on previous day. On Monday, the market opened with positive note and it climbed steadily before close, as investors continued to bet on the banking companies ahead of their year-end account closing.
The broader DSE All Shares Price Index (DSI) ended with a gain of 58.84 points or 1.68 per cent at 3546.64. The DSE-20 blue chip index moved up 82.18 points or 3.42 per cent to 2296.85.
The gainers took a modest gain over the losers as out of 234 issues traded, 122 gained, 108 declined and four remained unchanged.
Shares of the country's telecom giant Grameenphone rallied 1.68 per cent to close at Tk 168.50 per share.
Dealers said the underlying sentiment in the market was strong despite some credit tightening measures by the securities regulator.
"Investors took the index to a new high thanks mainly to the continuous shining of the banking issues that rose four per cent," a stockbroker said adding that they have been heartened by better outlooks from the companies.
Transaction of volume continued to increase as daily turnover stood at Tk 10.59 billion, an increase of 12 per cent over the previous session.
Most of the non-banking financial institutions declined. The mutual fund, three of them gained more than five per cent but the sector was marginally down.
The pharmaceutical companies, cement, all companies of the Beximco Group and energy stocks edged higher
Most of the general Insurance companies and life insurance companies ended lower.
Beximco, the flagship company of the industrial conglomerate Beximco Group, was the top turnover leader with shares worth Tk 661.15 million changing hands as it reported its third quarter net profit stood at Tk 3345.38 million.
AB Bank, Titas Gas, Power Grid, Square Pharma, Social Investment Bank Ltd (SIBL), City Bank, Jamuna Oil, National Bank Ltd (NBL) and Bextex were the other leading turnover leaders.
Dhaka Bank was the largest gainer registering a rise of 9.54 per cent, followed by NBL 8.27 per cent, Marico 7.80 per cent, City Bank 7.68 per cent, Glaxo SmithKline 6.89 per cent and Trust Bank 6.70 per cent.
Samata Leather dropped 7.16 per cent, the day's highest loser.