GP powers Dhaka stocks' rally in fluctuating market
Tuesday, 19 January 2010
FE Report
Dhaka stocks continued to rally in a fluctuating market Monday with the benchmark index of Dhaka Stock Exchange (DSE) crossing the 4,900-mark for the first time in the history of the country's premier bourse.
The benchmark DSE General Index (DGEN) surged by 47.12 points or 0.96 per cent to settle at 4,923.38, lifted by Grameenphone, the country's largest mobile phone operator, which accounted for 16.58 per cent of the total market capitalisation.
The broader All Shares Price Index (DSI) rose 34.75 points or 0.86 per cent to end at 4,064.97, while the DSE 20 blue chip index lost 3.69 points or 0.13 per cent to close at 2770.27.
The market started on a buoyant note, gaining 43 points in the first twenty-five minutes and then fluctuated a little bit in the next half an hour before plunging back to the starting point in another half an hour. It then gained its pace and moved positively till the end of the session.
Grameenphone, the most traded issue on the day, gained 4.03 per cent to close at Tk 219.5.
Mutual funds continued to advance for the second straight session with Aims 1st Mutual Fund leading the way by posting 5.47 per cent rise.
The debutant ICB Employees Provident Mutual Fund One: Scheme One rose by 150 per cent over its opening price of Tk 10. The fund is the day's second highest gainer.
Losers took a fair lead over the gainers, as out of 241 issues traded, 97 closed in the positive territory, 138 ended in the negative and six remained unchanged.
The turnover fell to Tk 10.38 billion, down by 6.3 per cent from the previous session's Tk 11.08 billion.
Major sectors like bank, non-banking financial institutions (NBFIs), insurers and energy issues dropped on profit taking.
Most of the insurance companies lost. However, the debutant Provati Insurance gained by 459.25 per cent over its opening price of Tk 100. The company was the top gainer on the day. Majority of the NBFIs closed in the red but the sector witnessed an overall gain, boosted by the significant rise of the ICB that nudged 9.92 per cent higher.
The pharmaceutical sector gained in a reversal of the previous day's declining trend. The energy sector fell 0.28 per cent.
Grameenphone continued to top the list of turnover leaders with its shares worth Tk 720.45 million traded. It was followed by Beximco Ltd, Meghna Petroleum, Jamuna Oil Company, Lanka Bangla Finance, Navana CNG, Maksons Spinning, Prime Finance, Union Capital, and Bextex.
Dhaka stocks continued to rally in a fluctuating market Monday with the benchmark index of Dhaka Stock Exchange (DSE) crossing the 4,900-mark for the first time in the history of the country's premier bourse.
The benchmark DSE General Index (DGEN) surged by 47.12 points or 0.96 per cent to settle at 4,923.38, lifted by Grameenphone, the country's largest mobile phone operator, which accounted for 16.58 per cent of the total market capitalisation.
The broader All Shares Price Index (DSI) rose 34.75 points or 0.86 per cent to end at 4,064.97, while the DSE 20 blue chip index lost 3.69 points or 0.13 per cent to close at 2770.27.
The market started on a buoyant note, gaining 43 points in the first twenty-five minutes and then fluctuated a little bit in the next half an hour before plunging back to the starting point in another half an hour. It then gained its pace and moved positively till the end of the session.
Grameenphone, the most traded issue on the day, gained 4.03 per cent to close at Tk 219.5.
Mutual funds continued to advance for the second straight session with Aims 1st Mutual Fund leading the way by posting 5.47 per cent rise.
The debutant ICB Employees Provident Mutual Fund One: Scheme One rose by 150 per cent over its opening price of Tk 10. The fund is the day's second highest gainer.
Losers took a fair lead over the gainers, as out of 241 issues traded, 97 closed in the positive territory, 138 ended in the negative and six remained unchanged.
The turnover fell to Tk 10.38 billion, down by 6.3 per cent from the previous session's Tk 11.08 billion.
Major sectors like bank, non-banking financial institutions (NBFIs), insurers and energy issues dropped on profit taking.
Most of the insurance companies lost. However, the debutant Provati Insurance gained by 459.25 per cent over its opening price of Tk 100. The company was the top gainer on the day. Majority of the NBFIs closed in the red but the sector witnessed an overall gain, boosted by the significant rise of the ICB that nudged 9.92 per cent higher.
The pharmaceutical sector gained in a reversal of the previous day's declining trend. The energy sector fell 0.28 per cent.
Grameenphone continued to top the list of turnover leaders with its shares worth Tk 720.45 million traded. It was followed by Beximco Ltd, Meghna Petroleum, Jamuna Oil Company, Lanka Bangla Finance, Navana CNG, Maksons Spinning, Prime Finance, Union Capital, and Bextex.