Record-breaking rally of DSE continues
Wednesday, 19 May 2010
FE Report
Dhaka stocks continued to see record-breaking rally for the third straight session in the fluctuating market Tuesday, riding on banking stocks.
The benchmark DSE General Index (DGEN) rose 37.40 points or 0.64 per cent to close at 5876.55, recording a new high from previous day's record 5839.13.
The broader All Shares Price Index (DSI) ended at 4833.70, up by 28.65 points or 0.59 per cent. The DSE 20 index comprising the blue chip shares gained 57.36 points or 1.76 per cent to 3303.71.
All the major sectors -- leasing, energy, pharmaceuticals and mutual funds -- closed in red except banking and telecommunications stocks that rose 2.42 per cent and 1.26 per cent respectively.
The market opened on a strong note as the benchmark index climbed 50 points in the opening ten minutes, only to fall by more than 50 points in the next twenty-five minutes.
However, it pulled back the momentum in the next one hour and gained about 46 points during the period. It went through ups and downs before ending higher at close.
Total turnover lost some pace on the day as it was down by 11.5 per cent to Tk 20.41 billion from previous day's record turnover.
Banking sector - one fourth of total market capitalisation -- continued its bull run as it advanced 2.42 per cent with Social Islami Bank rising 10.42 per cent, followed by National Bank 7.64 per cent, Premier Bank 9.87 per cent, Mercantile Bank 7.39 per cent and Jamuna Bank 5.96 per cent.
Telecommunications rose for the second consecutive session as Grameenphone, the lone listed company in the sector, was up by 1.26 per cent to Tk 281.50.
Dhaka stocks continued to see record-breaking rally for the third straight session in the fluctuating market Tuesday, riding on banking stocks.
The benchmark DSE General Index (DGEN) rose 37.40 points or 0.64 per cent to close at 5876.55, recording a new high from previous day's record 5839.13.
The broader All Shares Price Index (DSI) ended at 4833.70, up by 28.65 points or 0.59 per cent. The DSE 20 index comprising the blue chip shares gained 57.36 points or 1.76 per cent to 3303.71.
All the major sectors -- leasing, energy, pharmaceuticals and mutual funds -- closed in red except banking and telecommunications stocks that rose 2.42 per cent and 1.26 per cent respectively.
The market opened on a strong note as the benchmark index climbed 50 points in the opening ten minutes, only to fall by more than 50 points in the next twenty-five minutes.
However, it pulled back the momentum in the next one hour and gained about 46 points during the period. It went through ups and downs before ending higher at close.
Total turnover lost some pace on the day as it was down by 11.5 per cent to Tk 20.41 billion from previous day's record turnover.
Banking sector - one fourth of total market capitalisation -- continued its bull run as it advanced 2.42 per cent with Social Islami Bank rising 10.42 per cent, followed by National Bank 7.64 per cent, Premier Bank 9.87 per cent, Mercantile Bank 7.39 per cent and Jamuna Bank 5.96 per cent.
Telecommunications rose for the second consecutive session as Grameenphone, the lone listed company in the sector, was up by 1.26 per cent to Tk 281.50.