Stocks close flat on DSE

FE Report Dhaka stocks closed flat Thursday, the last trading day before week long Eid vacation amid extreme volatile trading throughout the session with turnover hitting almost three-year low as institutional investors remained inactive. The market lost almost 40 points during the first half an hour, before periodic short rallies helped the index recover lost grounds and end in neutral zone. The index was hovering marginally below 5,210 points by end of market closure. Meanwhile, Dhaka Stock Exchange (DSE) goes on nine-day Eid vacation from today (Friday) on the occasion of Eid-ul-Azha, the second greatest religious festival of the Muslims. During the vacation trading and official activities at the DSE will remain closed from November 4-12 for weekly holidays, government holidays for Eid-ul-Azha and special holidays. "The holidays at DSE will start in line with the government announcement and continue with additional two days," said a DSE official. Since the investors remain inactive after long holidays, the DSE board of directors has decided to add two days as special holiday-November 9 and November 10, he said. Eid-ul-Azha will be celebrated on November 7 (Monday) and the government will announce holiday from November 6. November 4, 5, 11 and 12 are weekly holidays. The DSE will resume its trading and official activities from November 13 (Sunday). Continued to page 24 3 corporate watch Singer sees steady, significant growth Managing Director of Singer Bangladesh Limited, A M Hamim Rahmatullah Thursday said Singer maintains transparency in every aspects of its operation and in testimony to its commitment, the company has been experiencing a steady and significant growth in recent years. Mr Hamim was addressing the first ever Investor Relations Event to mark the unveiling of half-yearly and third quarter 2011 financial results of the company in a city hotel. A large number of institutional investors, fund managers, commercial and merchants bankers, representatives from brokerage houses, investment advisors and capital market analysts participated in the event. Highlighting the company performances, the Singer MD said this year company saw a slightly less profit growth than that of last year as soccer fans across the country purchased television sets in greater number during the World Cup Soccer in 2010. - FE Report