SEC sits with bourses today as index sinks below 2600-mark
Monday, 10 November 2008
FE Report
Dhaka stocks continued to plunge Sunday with the benchmark DGEN index sinking below the 2600-mark for the first time in three months because of the sagging investors confidence.
The DGEN lost 383 points in more than one month.
Being worried about the continuous downturn of the market, the Securities and Exchange Commission (SEC) will sit today (Monday) at 3:00 pm with the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) to review the current market situation.
SEC chairman Faruq Ahmad Siddiqi, who joined the office Sunday after one month of vacation, will chair the meeting.
On the day, the DSE General Index (DGEN), the benchmark index, plummeted 3.11 per cent to 2584.02, the lowest since August 19 last.
The two other market barometers--All Shares Price Index (DSI) and DSE-20 blue chip index (DS20)--also shed 64.64 points and 63.18 points to end at 2146.59 and 2241.85 respectively.
Trading at the prime bourse opened in a downbeat mood that continued until end of the trade on persistent selling pressure from the investors shocked by the continuous market slide.
"The market continued to slump as the confidence crisis created by multiple reasons led to the selling pressure," Abu Ahmed, a market expert, said adding that, however, it would be wrong to think the market would witness any disaster.
To stop the downslide of the market, the merchant banks and the ICB should go for buying securities for their own portfolios, he suggested.
The day's total turnover, however, rose to Tk 2.09 billion (209 crore) from the previous day's Tk 1.82 billion while the market capitalisation continued to decline to Tk 941.69 billion from Tk 964.29 billion of the previous day.
The losers, however, outshone the gainers on the day. Out of the total 232 issues traded on the day, 197 declined, 23 gained and 12 remained unchanged.
Beximco Pharma was the turnover leader with shares worth Tk 242.89 million traded.
The next other turnover leaders on the day were ACI Limited, Beximco Limited, Titas Gas, Uttara Bank, Lankabangla Finance Limited, Beximco Textile, Islami Bank, Summit Alliance and Port Limited, and National Tubes.
Tulip Dairy, a Z-category issue, was the top gainer posting a rise of 7.35 per cent. Beximco Textile, Tallu Spinning, Jamuna Bank, Delta Spinning, Chittagong Vegetable and Monno Ceramic were the next top gainers.
Golden Son, United Insurance, Padma Print, Sonargoan Textile and Mithun Knitting were the top losers on the day.
Dhaka stocks continued to plunge Sunday with the benchmark DGEN index sinking below the 2600-mark for the first time in three months because of the sagging investors confidence.
The DGEN lost 383 points in more than one month.
Being worried about the continuous downturn of the market, the Securities and Exchange Commission (SEC) will sit today (Monday) at 3:00 pm with the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) to review the current market situation.
SEC chairman Faruq Ahmad Siddiqi, who joined the office Sunday after one month of vacation, will chair the meeting.
On the day, the DSE General Index (DGEN), the benchmark index, plummeted 3.11 per cent to 2584.02, the lowest since August 19 last.
The two other market barometers--All Shares Price Index (DSI) and DSE-20 blue chip index (DS20)--also shed 64.64 points and 63.18 points to end at 2146.59 and 2241.85 respectively.
Trading at the prime bourse opened in a downbeat mood that continued until end of the trade on persistent selling pressure from the investors shocked by the continuous market slide.
"The market continued to slump as the confidence crisis created by multiple reasons led to the selling pressure," Abu Ahmed, a market expert, said adding that, however, it would be wrong to think the market would witness any disaster.
To stop the downslide of the market, the merchant banks and the ICB should go for buying securities for their own portfolios, he suggested.
The day's total turnover, however, rose to Tk 2.09 billion (209 crore) from the previous day's Tk 1.82 billion while the market capitalisation continued to decline to Tk 941.69 billion from Tk 964.29 billion of the previous day.
The losers, however, outshone the gainers on the day. Out of the total 232 issues traded on the day, 197 declined, 23 gained and 12 remained unchanged.
Beximco Pharma was the turnover leader with shares worth Tk 242.89 million traded.
The next other turnover leaders on the day were ACI Limited, Beximco Limited, Titas Gas, Uttara Bank, Lankabangla Finance Limited, Beximco Textile, Islami Bank, Summit Alliance and Port Limited, and National Tubes.
Tulip Dairy, a Z-category issue, was the top gainer posting a rise of 7.35 per cent. Beximco Textile, Tallu Spinning, Jamuna Bank, Delta Spinning, Chittagong Vegetable and Monno Ceramic were the next top gainers.
Golden Son, United Insurance, Padma Print, Sonargoan Textile and Mithun Knitting were the top losers on the day.