Stock prices on DSE mixed due to price correction
Monday, 29 October 2007
FE Report
Stock prices on the Dhaka Stock Exchange (DSE) Sunday were mixed due to price correction of some over-priced issues.
Market operators said the price correction on the DSE might continue for a few more days.
"So, prices of some issues will come down. But after the supply of good shares improves, it will bring dynamism in the market," said a chief executive officer of a brokerage house.
He said investors have already encashed a significant number of shares to buy the shares of Jamuna and Meghna, two state-run oil companies, scheduled to be traded in the middle of next month.
Market sources said the DSE has been scrutinising the information document (ID) of both Jamuna and Meghna for facilitating debut trading soon.
Earlier, state-owned Investment Corporation of Bangladesh (ICB) submitted the ID of both Jamuna and Meghna to the DSE for starting direct trading on the DSE.
DSE sources said trading of Jamuna and Meghna may start simultaneously although the ICB submitted the ID's separately.
DSE General Index (DGEN) and All Shares Price Index (DSI) declined 15.038 points and 22.359 points to close at 2886.954 and 2448.431 respectively. But, DSE-20 Index (DS20) gained 11.115 points to close at 2242.249.
The total turnover rose to Tk 2.393 billion from its previous Tk 2.277 billion Thursday, the last trading session of the previous week. The total market capitalisation declined to Tk 702.648 billion from its previous Tk 707.942 billion Thursday.
On the day, out of 214 traded issues prices of 97 gained, 108 declined and 9 remained unchanged.
Desco was the turnover leader with traded shares worth Tk 195.483 million followed Trust Bank 175.450 million, Beximco Pharma Tk 130.042 million, AB Bank Tk 100.904 million, BRAC Bank Tk 95.986 million, Grameen One Mutual Fund Tk 80.574 million, AIMS Mutual Fund Tk 80.205 million, Summit Power Tk 76.776 million, Rupali Bank Tk 66.016 million and Social Investment Bank Tk 61.331 million.
Prices of Desco declined 15.69 per cent to Tk 1164.25, Trust Bank 0.85 per cent to Tk 1156.25, AB Bank 3.11 per cent to Tk 2959.50, BRAC Bank 0.85 per cent to Tk 1510.00, Grameen One 0.83 per cent to Tk 83.20, Summit Power 1.66 per cent to Tk 1534.00, Rupali Bank 4.28 per cent to Tk 2875.00 and Social Investment Bank 3.26 per cent to Tk 2875.00,
Beximco Pharma gained 9.87 per cent to Tk 76.80, AIMS 2.90 per cent to Tk 9.20, Beximco 15.46 per cent to Tk 41.80, ICB Islami Mutual Fund 10.77 per cent to Tk 336.75, ISN 11.15 per cent to Tk 29.90 and Padma Oil 13.07 per cent to Tk 1079.40.
Stock prices on the Dhaka Stock Exchange (DSE) Sunday were mixed due to price correction of some over-priced issues.
Market operators said the price correction on the DSE might continue for a few more days.
"So, prices of some issues will come down. But after the supply of good shares improves, it will bring dynamism in the market," said a chief executive officer of a brokerage house.
He said investors have already encashed a significant number of shares to buy the shares of Jamuna and Meghna, two state-run oil companies, scheduled to be traded in the middle of next month.
Market sources said the DSE has been scrutinising the information document (ID) of both Jamuna and Meghna for facilitating debut trading soon.
Earlier, state-owned Investment Corporation of Bangladesh (ICB) submitted the ID of both Jamuna and Meghna to the DSE for starting direct trading on the DSE.
DSE sources said trading of Jamuna and Meghna may start simultaneously although the ICB submitted the ID's separately.
DSE General Index (DGEN) and All Shares Price Index (DSI) declined 15.038 points and 22.359 points to close at 2886.954 and 2448.431 respectively. But, DSE-20 Index (DS20) gained 11.115 points to close at 2242.249.
The total turnover rose to Tk 2.393 billion from its previous Tk 2.277 billion Thursday, the last trading session of the previous week. The total market capitalisation declined to Tk 702.648 billion from its previous Tk 707.942 billion Thursday.
On the day, out of 214 traded issues prices of 97 gained, 108 declined and 9 remained unchanged.
Desco was the turnover leader with traded shares worth Tk 195.483 million followed Trust Bank 175.450 million, Beximco Pharma Tk 130.042 million, AB Bank Tk 100.904 million, BRAC Bank Tk 95.986 million, Grameen One Mutual Fund Tk 80.574 million, AIMS Mutual Fund Tk 80.205 million, Summit Power Tk 76.776 million, Rupali Bank Tk 66.016 million and Social Investment Bank Tk 61.331 million.
Prices of Desco declined 15.69 per cent to Tk 1164.25, Trust Bank 0.85 per cent to Tk 1156.25, AB Bank 3.11 per cent to Tk 2959.50, BRAC Bank 0.85 per cent to Tk 1510.00, Grameen One 0.83 per cent to Tk 83.20, Summit Power 1.66 per cent to Tk 1534.00, Rupali Bank 4.28 per cent to Tk 2875.00 and Social Investment Bank 3.26 per cent to Tk 2875.00,
Beximco Pharma gained 9.87 per cent to Tk 76.80, AIMS 2.90 per cent to Tk 9.20, Beximco 15.46 per cent to Tk 41.80, ICB Islami Mutual Fund 10.77 per cent to Tk 336.75, ISN 11.15 per cent to Tk 29.90 and Padma Oil 13.07 per cent to Tk 1079.40.