Marginal gains at DSE amidst dull trading
Wednesday, 12 November 2008
FE Report
Dhaka stocks gained slightly Tuesday amid lacklustre trading.
Trading at the Dhaka Stock Exchange (DSE) fluctuated throughout the day's trading session like the previous day as the confused investors were eagerly waiting for a sense of direction from the market regulator, the Securities and Exchange Commission (SEC).
All the market barometers - the benchmark DSE General Index and All Shares Price Index - rose 5.36 points and 3.71 points to close at 2621.94 and 2175.97 respectively.
However, DSE-20 comprising blue chips fell 9.53 points to end at 2242.87.
The benchmark index stayed 20 minutes into the negative territory after starting of the trade and then it rose, posting 33 points up just after mid session.
Later, it again began shedding points but landed in the positive territory until end of the trade.
The volatility in trading reflected the fact that investors were still in the dark about the market direction, according to stockbrokers.
"Some investors remained inactive and are waiting for positive steps to be taken, possibly, by the SEC after Tuesday's prescheduled meeting with the merchant banks for bringing stability in the stock market," a stockbroker said.
Out of 224 issues traded, 131 advanced, 86 declined and seven remained unchanged.
The total turnover declined to Tk 1.60 billion against the previous day's Tk 1.73 billion while the market capitalisation remained steady at Tk 951.54 billion.
Beximco Pharma was the topmost turnover leader with shares worth Tk 1.63 billion traded. Beximco Limited, Titas Gas, ACI Limited, Padma Oil, Islami Bank Bangladesh Ltd, Square Pharma, S Alam Cold Rolled Steels Limited, Lankabangla Finance Limited and Grameen2 mutual fund were the other next turnover leaders.
Dhaka stocks gained slightly Tuesday amid lacklustre trading.
Trading at the Dhaka Stock Exchange (DSE) fluctuated throughout the day's trading session like the previous day as the confused investors were eagerly waiting for a sense of direction from the market regulator, the Securities and Exchange Commission (SEC).
All the market barometers - the benchmark DSE General Index and All Shares Price Index - rose 5.36 points and 3.71 points to close at 2621.94 and 2175.97 respectively.
However, DSE-20 comprising blue chips fell 9.53 points to end at 2242.87.
The benchmark index stayed 20 minutes into the negative territory after starting of the trade and then it rose, posting 33 points up just after mid session.
Later, it again began shedding points but landed in the positive territory until end of the trade.
The volatility in trading reflected the fact that investors were still in the dark about the market direction, according to stockbrokers.
"Some investors remained inactive and are waiting for positive steps to be taken, possibly, by the SEC after Tuesday's prescheduled meeting with the merchant banks for bringing stability in the stock market," a stockbroker said.
Out of 224 issues traded, 131 advanced, 86 declined and seven remained unchanged.
The total turnover declined to Tk 1.60 billion against the previous day's Tk 1.73 billion while the market capitalisation remained steady at Tk 951.54 billion.
Beximco Pharma was the topmost turnover leader with shares worth Tk 1.63 billion traded. Beximco Limited, Titas Gas, ACI Limited, Padma Oil, Islami Bank Bangladesh Ltd, Square Pharma, S Alam Cold Rolled Steels Limited, Lankabangla Finance Limited and Grameen2 mutual fund were the other next turnover leaders.