Investors cheer as Dhaka stocks surge
Tuesday, 2 December 2008
FE Report
Dhaka stocks surged Monday as the investors cheered the move of the securities regulator to stimulate the market that had been suffering a bear run for long.
Trading at the Dhaka Stock Exchange (DSE) opened with a higher note as the general index rose more than 77 points one hour before closure of the trade.
The market buoyed up a day after the Securities and Exchange Commission's (SEC) latest move calling upon the merchant banks to abstain from 'trigger selling' or 'forced selling' before the ensuing Eid.
The benchmark index DSE General Index (DGEN), All Shares Price Index (DSI) and the DSE20 Index (DS20) rose 48.12 points, 40.53 points and 25.43 points to close at 2517.04, 2080.73 and 2115.49 respectively.
"A set of measures taken by the merchant banks has helped restore the confidence of the investors," said Mahmudul Bari, deputy general manager of the merchant banking division of the IDLC Finance Limited.
A large number of shares of ACI Formulations, which made debut on November 18 under direct listing regulations, has also left a positive impact on the market, he added.
Of the total 228 issues traded, 190 advanced, 33 declined and five remained unchanged.
The day's total turnover declined to Tk 2.11 billion from the previous day's Tk 1.76 billion while the market capitalisation rose to Tk 963.63 billion from Tk 949.62 billion.
A total of 4548600 shares worth Tk 696.84 million of the ACI Formulations were transacted, making it the top turnover leader.
Titas Gas, Uttara Bank, Beximco Pharmaceuticals, Beximco, ACI, National Bank, Grameen Two Mutual Fund, Dutch-Bangla Bank and LankaBangla Finance Limited were the day's rest of the top 10 turnover leaders.
The day's top gainers were Legacy Footwear, ACI Limited, BD Welding, Paramount, Reliance Insurance, Shinepukur Ceramics Limited, Rangamati Food, City General Insurance, Shyampur Sugar and Renwick Jajneswar.
The top losers were Standard Ceramic, BD Dyeing, BLTC, Anlima Yarn, Dulamia Cotton, Mithun Knitting, ICB, 2nd NRB and Islami Bank Bangladesh Ltd.
The selective categories index of Chittagong Stock Exchange gained 125.92 points, or 2.54 per cent, to close at 5083.55, while its blue chip index CSE30 advanced by 156.97 points, or 2.32 per cent, to finish at 6911.97.
Of the total 120 issues traded on the CSE floor, 99 posted gain, 20 dropped and one remained unchanged.
Dhaka stocks surged Monday as the investors cheered the move of the securities regulator to stimulate the market that had been suffering a bear run for long.
Trading at the Dhaka Stock Exchange (DSE) opened with a higher note as the general index rose more than 77 points one hour before closure of the trade.
The market buoyed up a day after the Securities and Exchange Commission's (SEC) latest move calling upon the merchant banks to abstain from 'trigger selling' or 'forced selling' before the ensuing Eid.
The benchmark index DSE General Index (DGEN), All Shares Price Index (DSI) and the DSE20 Index (DS20) rose 48.12 points, 40.53 points and 25.43 points to close at 2517.04, 2080.73 and 2115.49 respectively.
"A set of measures taken by the merchant banks has helped restore the confidence of the investors," said Mahmudul Bari, deputy general manager of the merchant banking division of the IDLC Finance Limited.
A large number of shares of ACI Formulations, which made debut on November 18 under direct listing regulations, has also left a positive impact on the market, he added.
Of the total 228 issues traded, 190 advanced, 33 declined and five remained unchanged.
The day's total turnover declined to Tk 2.11 billion from the previous day's Tk 1.76 billion while the market capitalisation rose to Tk 963.63 billion from Tk 949.62 billion.
A total of 4548600 shares worth Tk 696.84 million of the ACI Formulations were transacted, making it the top turnover leader.
Titas Gas, Uttara Bank, Beximco Pharmaceuticals, Beximco, ACI, National Bank, Grameen Two Mutual Fund, Dutch-Bangla Bank and LankaBangla Finance Limited were the day's rest of the top 10 turnover leaders.
The day's top gainers were Legacy Footwear, ACI Limited, BD Welding, Paramount, Reliance Insurance, Shinepukur Ceramics Limited, Rangamati Food, City General Insurance, Shyampur Sugar and Renwick Jajneswar.
The top losers were Standard Ceramic, BD Dyeing, BLTC, Anlima Yarn, Dulamia Cotton, Mithun Knitting, ICB, 2nd NRB and Islami Bank Bangladesh Ltd.
The selective categories index of Chittagong Stock Exchange gained 125.92 points, or 2.54 per cent, to close at 5083.55, while its blue chip index CSE30 advanced by 156.97 points, or 2.32 per cent, to finish at 6911.97.
Of the total 120 issues traded on the CSE floor, 99 posted gain, 20 dropped and one remained unchanged.