GP keeps Dhaka stocks afloat
Tuesday, 9 February 2010
FE Report
Dhaka stocks rose for the third straight session amid volatile trading Monday, lifted by the country's largest mobile phone service operator, Grameenphone.
The benchmark DSE General (DGEN) index gained 62 points or 1.14 per cent to close at 5,552.85.
The broader DSE All Shares Price Index (DSI) surged by 43.64 points or 0.96 per cent to end at 4,556.29 while the DSE 20 blue chip shares shed 0.80 points or 0.02 per cent to end at 3,134.27.
The market saw a slight bump throughout the session but it recovered in the final minutes spurred by late gain of Grameenphone on the news that it signed an agreement with the Axiata (Bangladesh) Limited (AKTEL) to share each other's telecom infrastructures for expansion of network across the country.
Sources said Bangladesh Telecommunication Regulatory Commission (BTRC) earlier directed all the mobile phone operators not to set up any more network towers for the sake of environment.
"As part of the directive, the mobile phone operator will use the network towers of each other," he said.
Most of the issues declined as out of 242 issues traded, 93 advanced, 141 declined and eight remained unchanged.
The daily turnover, however, increased to Tk 12.07 billion from the previous session's Tk 9.87 billion thanks to hefty trading in Grameenphone shares, which accounted for more than 13 per cent of the total turnover.
The Grameenphone, also the country's largest private company in terms of sales and most weighted share at the DSE -- gained enough in the late afternoon surge to keep the general index in the black, said BRAC-EPL, an investment bank, in its market analysis.
Dhaka stocks rose for the third straight session amid volatile trading Monday, lifted by the country's largest mobile phone service operator, Grameenphone.
The benchmark DSE General (DGEN) index gained 62 points or 1.14 per cent to close at 5,552.85.
The broader DSE All Shares Price Index (DSI) surged by 43.64 points or 0.96 per cent to end at 4,556.29 while the DSE 20 blue chip shares shed 0.80 points or 0.02 per cent to end at 3,134.27.
The market saw a slight bump throughout the session but it recovered in the final minutes spurred by late gain of Grameenphone on the news that it signed an agreement with the Axiata (Bangladesh) Limited (AKTEL) to share each other's telecom infrastructures for expansion of network across the country.
Sources said Bangladesh Telecommunication Regulatory Commission (BTRC) earlier directed all the mobile phone operators not to set up any more network towers for the sake of environment.
"As part of the directive, the mobile phone operator will use the network towers of each other," he said.
Most of the issues declined as out of 242 issues traded, 93 advanced, 141 declined and eight remained unchanged.
The daily turnover, however, increased to Tk 12.07 billion from the previous session's Tk 9.87 billion thanks to hefty trading in Grameenphone shares, which accounted for more than 13 per cent of the total turnover.
The Grameenphone, also the country's largest private company in terms of sales and most weighted share at the DSE -- gained enough in the late afternoon surge to keep the general index in the black, said BRAC-EPL, an investment bank, in its market analysis.