Stock market buoyancy persists
FE Report | Thursday, 28 August 2008
Dhaka stocks extended gain Wednesday for the fifth consecutive session, led by mutual funds and pharmaceuticals issues with increase in the turnover.
The Dhaka Stock Exchange (DSE) started with a higher note, pushing the main index up by more than 31 points around mid session. Later, it shed some points towards the close of the trade.
The market barometers -- benchmark DSE General Index (DGEN), All Shares Price Index (DSI) and DSE-20 Index (DS20), blue chips -- rose 16.96 points, 13.43 points and 2.31 points to finish at 2763.16, 2365.86 and 2423.95 respectively.
The market returned to the gaining streak as the investors started to feel comfortable, thinking that the market escaped from the continuous falling trend, an analyst said.
He, however, said the gain might be dented unless price stabilisation measures were taken as a result of the ongoing series of talks between securities regulators, leading merchant banks and brokerage houses.
The benchmark DGEN recovered 196.59 points in the last fifth session gaining streak.
The Beximco stocks dominated the market on the day because of the news of release of Vice Chairman of Beximco Group Salman F Rahman on bail, according to the market operators.
Fund flow to the market is increasing as the refund warrant money of Grameen One- Scheme Two (Second Scheme of Grameen Mutual Fund One) and First Security Bank started to infiltrate into the market, said a stock broker.
The total turnover increased to Tk 3.02 billion against the previous Tk 2.91 billion. The top ten turnover companies accounted for more than 42 per cent of the total turnover.
The gainers outsmarted the losers as out of 229 issues traded, 149 advanced, 69 declined and 11 remained unchanged.
The total market capitalisation also climbed to Tk 962.38 billion from the previous Tk 958.06 billion.
Stock prices of Titas Gas dropped 1.49 per cent to close at Tk 363.25 per share but it topped the turnover position with shares worth Tk 288.51 million traded.
Beximco Pharma was the second turnover leader with shares worth Tk 193.27 million changing hands. Its share prices rose 0.52 per cent to end at Tk 115.20 a share.
Beximco Limited, Lanka Bangla Finance, AB Bank, Islami Bank Bangladesh Ltd, Keya Cosmetics, Uttara Bank, Square Pharma and Pragati Life Insurance were the other top turnover leaders on the day.
The Dhaka Stock Exchange (DSE) started with a higher note, pushing the main index up by more than 31 points around mid session. Later, it shed some points towards the close of the trade.
The market barometers -- benchmark DSE General Index (DGEN), All Shares Price Index (DSI) and DSE-20 Index (DS20), blue chips -- rose 16.96 points, 13.43 points and 2.31 points to finish at 2763.16, 2365.86 and 2423.95 respectively.
The market returned to the gaining streak as the investors started to feel comfortable, thinking that the market escaped from the continuous falling trend, an analyst said.
He, however, said the gain might be dented unless price stabilisation measures were taken as a result of the ongoing series of talks between securities regulators, leading merchant banks and brokerage houses.
The benchmark DGEN recovered 196.59 points in the last fifth session gaining streak.
The Beximco stocks dominated the market on the day because of the news of release of Vice Chairman of Beximco Group Salman F Rahman on bail, according to the market operators.
Fund flow to the market is increasing as the refund warrant money of Grameen One- Scheme Two (Second Scheme of Grameen Mutual Fund One) and First Security Bank started to infiltrate into the market, said a stock broker.
The total turnover increased to Tk 3.02 billion against the previous Tk 2.91 billion. The top ten turnover companies accounted for more than 42 per cent of the total turnover.
The gainers outsmarted the losers as out of 229 issues traded, 149 advanced, 69 declined and 11 remained unchanged.
The total market capitalisation also climbed to Tk 962.38 billion from the previous Tk 958.06 billion.
Stock prices of Titas Gas dropped 1.49 per cent to close at Tk 363.25 per share but it topped the turnover position with shares worth Tk 288.51 million traded.
Beximco Pharma was the second turnover leader with shares worth Tk 193.27 million changing hands. Its share prices rose 0.52 per cent to end at Tk 115.20 a share.
Beximco Limited, Lanka Bangla Finance, AB Bank, Islami Bank Bangladesh Ltd, Keya Cosmetics, Uttara Bank, Square Pharma and Pragati Life Insurance were the other top turnover leaders on the day.