Stocks decline on price correction
Tuesday, 4 May 2010
FE Report
Dhaka stocks declined on price correction for the second session in a row Monday as profit taking on banking and energy stocks capped early gains.
The benchmark DSE General Index (DGEN) seesawed entire session and closed at 5593.79, down 37.49 points or 0.66 per cent, after hitting highest 5638.71 in mid-session.
The broader All Shares Price Index (DSI) lost 29.84 points or 0.64 per cent to 4593.99 while DSE-20 Index comprising blue chips rose 9.95 points or 0.32 per cent to 3027.67.
Banking issues, which make up one-fourth of market capitalisation, broke its fourth consecutive session winning run losing 1.47 per cent.
Among banks, Social Islami Bank, Premier Bank, First Security Bank, EXIM Bank and Dhaka Bank lost more than 3 per cent.
The fuel and power sector was down 2.63 per cent as the big companies, including Titas, Khulna Power Company Limited (KPCL), DESCO, Power Grid and Summit Power declined.
The telecommunications sector --one-fifth of the market cap-- lost 1.55 per cent as Grameenphone, the lone listed company in the sector, closed at Tk 311.80 from Tk 316.70.
Leasing or non-banking financial institutions gained 0.88 per cent with IDLC Finance Limited rising 2.27 per cent, followed by Prime Finance 1.22 per cent and ICB 0.21 per cent.
Pharmaceuticals, general insurers and life insurers gained 1.72 per cent, 2.89 per cent and 1.05 per cent while mutual funds and cement closed negative.
Decliners took a moderate lead over the gainers as out of 250 issues traded, 114 gained, 134 lost and 2 remained unchanged.
KPCL was the top turnover leader with shares worth Tk 1.16 billion changing hands, ousting Beximco Limited that retained the top position over the last two weeks.
It was followed by, Beximco Ltd aside, Summit Power, EXIM Bank, LankaBangla Finance, Uttara Finance, Sotheast Bank and Titas Gas.
BD Finance was the highest gainer posting a rise of 15.0 per cent after it reported that its first-quarter net profit stood at Tk 36.76 million against net loss of Tk 48.56 million for the same period of the previous year.
Janata Insurance, Karnaphuli Insurance, Berger Paintings Bangladesh Limited, Maksons Spinning, Peoples Insurance and Uttara Finance were the other top gainers.
The day's major losers were KPCL, Dulamia Cotton, Grameen Scheme Two Mutual Fund, Standard Ceramics, Northern Insurance, CMC Kamal and Kohinoor Chemicals.
Dhaka stocks declined on price correction for the second session in a row Monday as profit taking on banking and energy stocks capped early gains.
The benchmark DSE General Index (DGEN) seesawed entire session and closed at 5593.79, down 37.49 points or 0.66 per cent, after hitting highest 5638.71 in mid-session.
The broader All Shares Price Index (DSI) lost 29.84 points or 0.64 per cent to 4593.99 while DSE-20 Index comprising blue chips rose 9.95 points or 0.32 per cent to 3027.67.
Banking issues, which make up one-fourth of market capitalisation, broke its fourth consecutive session winning run losing 1.47 per cent.
Among banks, Social Islami Bank, Premier Bank, First Security Bank, EXIM Bank and Dhaka Bank lost more than 3 per cent.
The fuel and power sector was down 2.63 per cent as the big companies, including Titas, Khulna Power Company Limited (KPCL), DESCO, Power Grid and Summit Power declined.
The telecommunications sector --one-fifth of the market cap-- lost 1.55 per cent as Grameenphone, the lone listed company in the sector, closed at Tk 311.80 from Tk 316.70.
Leasing or non-banking financial institutions gained 0.88 per cent with IDLC Finance Limited rising 2.27 per cent, followed by Prime Finance 1.22 per cent and ICB 0.21 per cent.
Pharmaceuticals, general insurers and life insurers gained 1.72 per cent, 2.89 per cent and 1.05 per cent while mutual funds and cement closed negative.
Decliners took a moderate lead over the gainers as out of 250 issues traded, 114 gained, 134 lost and 2 remained unchanged.
KPCL was the top turnover leader with shares worth Tk 1.16 billion changing hands, ousting Beximco Limited that retained the top position over the last two weeks.
It was followed by, Beximco Ltd aside, Summit Power, EXIM Bank, LankaBangla Finance, Uttara Finance, Sotheast Bank and Titas Gas.
BD Finance was the highest gainer posting a rise of 15.0 per cent after it reported that its first-quarter net profit stood at Tk 36.76 million against net loss of Tk 48.56 million for the same period of the previous year.
Janata Insurance, Karnaphuli Insurance, Berger Paintings Bangladesh Limited, Maksons Spinning, Peoples Insurance and Uttara Finance were the other top gainers.
The day's major losers were KPCL, Dulamia Cotton, Grameen Scheme Two Mutual Fund, Standard Ceramics, Northern Insurance, CMC Kamal and Kohinoor Chemicals.