Price correction leads to fall in Dhaka stocks
Thursday, 18 September 2008
FE Report
Dhaka stocks slipped Wednesday after remaining steady for the fourth straight session.
The market moved to the negative territory partly for price correction and partly for negative news that contributed to the fall of share prices of non-banking financial institutions ( NBFIs), according to the market operators.
The Dhaka Stock Exchange (DSE) opened on a downbeat mood from the very outset of the trade and never regained until close of the trade.
All the market barometers -- the benchmark DSE General Index (DGEN), All Shares Price Index (DSI) and DSE-20 comprising blue chips -- shed 18.81 points, 14.30 points and 9.45 points to close at 2836.05, 2395.55 and 2400.05 respectively.
Some investors sold their holdings for booking profits while some sold to avoid further losses on the news that the rate of overall default loans in the NBFIs sector climbed to 8.0 per cent in June this year from 6.0 per cent registered three months earlier, a stock operator said.
The country's stock markets remained indifferent to the plunge of global stock markets on financial woes of Lehman Brothers, the USA's fourth largest investment bank, because foreign investors' contribution to the stock markets in Bangladesh is insignificant, market experts said.
The red took a strong lead over the green. Out of 220 shares, 62 advanced, 144 declined and 14 remained unchanged.
Dhaka stocks slipped Wednesday after remaining steady for the fourth straight session.
The market moved to the negative territory partly for price correction and partly for negative news that contributed to the fall of share prices of non-banking financial institutions ( NBFIs), according to the market operators.
The Dhaka Stock Exchange (DSE) opened on a downbeat mood from the very outset of the trade and never regained until close of the trade.
All the market barometers -- the benchmark DSE General Index (DGEN), All Shares Price Index (DSI) and DSE-20 comprising blue chips -- shed 18.81 points, 14.30 points and 9.45 points to close at 2836.05, 2395.55 and 2400.05 respectively.
Some investors sold their holdings for booking profits while some sold to avoid further losses on the news that the rate of overall default loans in the NBFIs sector climbed to 8.0 per cent in June this year from 6.0 per cent registered three months earlier, a stock operator said.
The country's stock markets remained indifferent to the plunge of global stock markets on financial woes of Lehman Brothers, the USA's fourth largest investment bank, because foreign investors' contribution to the stock markets in Bangladesh is insignificant, market experts said.
The red took a strong lead over the green. Out of 220 shares, 62 advanced, 144 declined and 14 remained unchanged.