Rush for Navana CNG shares pulls down Dhaka stocks
Monday, 7 September 2009
FE Report
Dhaka stocks fell Sunday, led by insurance, energy and non-banking financial institutions, putting an end to the fourth consecutive session of gain.
Trading at the Dhaka Stock Exchange (DSE) started on a high note as the benchmark DSE General Index (DGEN) in only 45 minutes crossed the 3,000-mark, the psychological level, which was crossed at least ten times during the last one month but the level could not be sustained.
The DGEN lost 24.49 points or 0.82 per cent to close at 2,960.96 after hitting 3006.19.
Almost all sectors, except the banks, declined. Most of the banks performed better. Dutch-Bangla Bank gained the highest 2.4 per cent. Most of the non-banking financial institutions (NBFIs) lost except Islamic Finance, which gained the highest 9.0 per cent.
The broader All Shares Price Index (DSI) slid 19.59 points or 0.78 per cent to end at 2490.35. The DSE 20 blue chip index slipped 8.81 points or 0.41 per cent to finish at 2133.07.
Losers trounced the gainers as out of 238 issues traded, 18 gained, 187 declined and three remained unchanged.
Navana CNG pulled down the market as investors swoop ed on shares to get good return in future, according to stock brokers.
Most of the shares of the company were traded at the price level of Tk 200. At the end of the day, its share price lost 2.43 per cent to close at Tk 204.
The total turnover increased to Tk 5.83 billion, up by 10.06 per cent from the previous session's Tk 5.26 billion thanks to hefty trading in shares of Navana CNG, a gas refilling service provider, which made debut last week.
A total of 6,104,800 shares worth Tk 1.23 billion of the company changed hands, making it the top turnover leader. It accounted for 21 per cent of the total turnover.
A total of 8,395,500 shares out of 18,150,000 have been sold so far since its debut August 30 last.
Summit Alliance Port, Beximco, Bextex, Summit Power and Islamic Finance were the other turnover leaders on the day.
"The market went down mainly because of the investors' keen interest in Navana CNG as they ran after the shares of the company releasing their other holdings to make profit in days to come," said a stock broker asking not to be named.
Apex Spinning, Kohinoor Chemicals, Islamic Finance, Jute Spinning, Gemini Sea Food and Apex Foods were
Dhaka stocks fell Sunday, led by insurance, energy and non-banking financial institutions, putting an end to the fourth consecutive session of gain.
Trading at the Dhaka Stock Exchange (DSE) started on a high note as the benchmark DSE General Index (DGEN) in only 45 minutes crossed the 3,000-mark, the psychological level, which was crossed at least ten times during the last one month but the level could not be sustained.
The DGEN lost 24.49 points or 0.82 per cent to close at 2,960.96 after hitting 3006.19.
Almost all sectors, except the banks, declined. Most of the banks performed better. Dutch-Bangla Bank gained the highest 2.4 per cent. Most of the non-banking financial institutions (NBFIs) lost except Islamic Finance, which gained the highest 9.0 per cent.
The broader All Shares Price Index (DSI) slid 19.59 points or 0.78 per cent to end at 2490.35. The DSE 20 blue chip index slipped 8.81 points or 0.41 per cent to finish at 2133.07.
Losers trounced the gainers as out of 238 issues traded, 18 gained, 187 declined and three remained unchanged.
Navana CNG pulled down the market as investors swoop ed on shares to get good return in future, according to stock brokers.
Most of the shares of the company were traded at the price level of Tk 200. At the end of the day, its share price lost 2.43 per cent to close at Tk 204.
The total turnover increased to Tk 5.83 billion, up by 10.06 per cent from the previous session's Tk 5.26 billion thanks to hefty trading in shares of Navana CNG, a gas refilling service provider, which made debut last week.
A total of 6,104,800 shares worth Tk 1.23 billion of the company changed hands, making it the top turnover leader. It accounted for 21 per cent of the total turnover.
A total of 8,395,500 shares out of 18,150,000 have been sold so far since its debut August 30 last.
Summit Alliance Port, Beximco, Bextex, Summit Power and Islamic Finance were the other turnover leaders on the day.
"The market went down mainly because of the investors' keen interest in Navana CNG as they ran after the shares of the company releasing their other holdings to make profit in days to come," said a stock broker asking not to be named.
Apex Spinning, Kohinoor Chemicals, Islamic Finance, Jute Spinning, Gemini Sea Food and Apex Foods were