Investors embark on selling
Friday, 25 March 2011
FE Report
Dhaka stock indices and turnover fell by big margin Thursday as sell pressure gripped most of the investors in the trading session. The benchmark index of Dhaka Stock Exchange (DSE), DGEN slumped by 176.09 points on the day for the third consecutive session. From the very beginning of the trading, the index fell heavily as share prices lost across the board. Market insiders said, investors expressed concerns over a number of issues which affected the economy. The benchmark DSE General Index (DGEN), the yardstick of the DSE shed 2.77 per cent or 6,164.81 points. The broader DSE All Shares Price Index (DSI) went down by 143.23 points to settle at 5111.05 points. The DSE-20 index lost 2.21 per cent or 88.81 points. Turnover also witnessed substantial decline on the day as investors were not active to participate in the trading activities. The total turnover stood at Tk 8.67 billion which was Tk 10.64 billion in the previous session, in value terms. Beximco Ltd emerged as the top traded company of the day with shares worth Tk 530.68 million changing hands. The other top turnover leaders of the day were Bextex, Titas Gas, Golden Son, PLFSL, Maksons Spinning, Shine Pukur Ceramics, RN Spinning and Confidence Cement. Market analyst Abu Ahmed said, investors are frustrated as market is not getting enough support from different quarters of the market as the the proposed Bangladesh Fund is yet to be formed. "If the macro economy doesn't perform well, there are concerns that listed companies will not be able to give better pay-out for the investors in the coming years" he added. Meanwhile, General Insurance and Textile Sector emerged as the biggest loser of the day losing 4.01 per cent and 3.31 per cent respectively. Banking, the most weighted sector among the listed companies lost 2.73 per cent with the entire traded bank on the day lost price except the state owned Rupali Bank. Among the other major sectors share, NBFIs lost 2.83 per cent, Life Insurance 2.71 per cent, Telecommunication 3.36 per cent and Fuel and Power sector loses 2.72 per cent. Out of the total traded shares of the day, only 31 issues advanced, 217 declined and 2 issues remain unchanged.
Dhaka stock indices and turnover fell by big margin Thursday as sell pressure gripped most of the investors in the trading session. The benchmark index of Dhaka Stock Exchange (DSE), DGEN slumped by 176.09 points on the day for the third consecutive session. From the very beginning of the trading, the index fell heavily as share prices lost across the board. Market insiders said, investors expressed concerns over a number of issues which affected the economy. The benchmark DSE General Index (DGEN), the yardstick of the DSE shed 2.77 per cent or 6,164.81 points. The broader DSE All Shares Price Index (DSI) went down by 143.23 points to settle at 5111.05 points. The DSE-20 index lost 2.21 per cent or 88.81 points. Turnover also witnessed substantial decline on the day as investors were not active to participate in the trading activities. The total turnover stood at Tk 8.67 billion which was Tk 10.64 billion in the previous session, in value terms. Beximco Ltd emerged as the top traded company of the day with shares worth Tk 530.68 million changing hands. The other top turnover leaders of the day were Bextex, Titas Gas, Golden Son, PLFSL, Maksons Spinning, Shine Pukur Ceramics, RN Spinning and Confidence Cement. Market analyst Abu Ahmed said, investors are frustrated as market is not getting enough support from different quarters of the market as the the proposed Bangladesh Fund is yet to be formed. "If the macro economy doesn't perform well, there are concerns that listed companies will not be able to give better pay-out for the investors in the coming years" he added. Meanwhile, General Insurance and Textile Sector emerged as the biggest loser of the day losing 4.01 per cent and 3.31 per cent respectively. Banking, the most weighted sector among the listed companies lost 2.73 per cent with the entire traded bank on the day lost price except the state owned Rupali Bank. Among the other major sectors share, NBFIs lost 2.83 per cent, Life Insurance 2.71 per cent, Telecommunication 3.36 per cent and Fuel and Power sector loses 2.72 per cent. Out of the total traded shares of the day, only 31 issues advanced, 217 declined and 2 issues remain unchanged.