Stocks end down on DSE
Thursday, 14 April 2011
FE Report
Dhaka stocks edged lower Wednesday in negative note amid profit taking mainly on banking and non-banking financial issues. However, market insiders said the day's trading was affected as the names of some big players were mentioned in the probe committee report on stock market scam. The market will remain closed today (Thursday) on the occasion of public holiday (Bengali New Year). However, the market opened with a positive mood in the morning, gaining more than 70 points within five minutes of resumption of trading. After that it declined gradually amid moderate ups and down and finally closed 36 points lower. At the end of the day, the benchmark DSE General Index (DGEN), the yardstick of the DSE ended at 6,386.36, shedding 36.87 points 0.57 per cent. The broader All Shares Price Index (DSI) went down by 28.56 points or 0.54 per cent to close at 5,303.13. The DSE-20 index comprising blue-chip shares lost 29.74 points or 0.75 per cent to 3,931.04. However, Fakhor Uddin Ali Ahmed, president of Chittagong Stock Exchange said the market's behaviour is good and it's a normal price correction. "The market's behavour is good and stable and it will be more stable in coming days as the investors are more cautious for investing," Mr Ahmed said. "Many investors booked profit mainly on banking and non-banking financial issues on the last trading day of the week and wanted to remain in safe zone," said a leading merchant banker. The transaction amount was less than Tk 10 billion for the second consecutive day which indicates cautiousness from majority of the traders adopting a wait and see policy. The daily turnover stood at Tk 8.55 billion in value terms, up by 7.9 per cent, from Tk 7.93 billion in the previous session. The losers dominated over the gainers as out of 256 issues traded, 98 advanced, 157 declined and one remained unchanged. A total of 87.69 million shares changed hands on the day against 61.35 million in the previous session. The trade deals also increased to 173,197 against Tuesday's 169,780. Market capitalization slightly decreased to Tk 2,869.89 billion against Tk 2,876.20 billion in the previous session. Banking issues, which make up more than one-third of the market capitalization lost 0.85 per cent on the day. As out of 29 banks traded, only three banks---IFIC Bank, Shajalal Bank and Prime Bank gained on the day while 26 banks lost. Grameenphone (GP), the most weighted shares in DSE and the lone listed company in telecommunications sector continued to gain and advanced Tk 0.80 per share and closed at Tk 170.04. Grameenphone gained 0.95 per cent on the day. In the financial sector 20 issues traded, only two issues-LankaBangla Finance and ICB gained on the day while 18 issues declined. Overall the NBFIs sector lost 0.46 per cent.
Dhaka stocks edged lower Wednesday in negative note amid profit taking mainly on banking and non-banking financial issues. However, market insiders said the day's trading was affected as the names of some big players were mentioned in the probe committee report on stock market scam. The market will remain closed today (Thursday) on the occasion of public holiday (Bengali New Year). However, the market opened with a positive mood in the morning, gaining more than 70 points within five minutes of resumption of trading. After that it declined gradually amid moderate ups and down and finally closed 36 points lower. At the end of the day, the benchmark DSE General Index (DGEN), the yardstick of the DSE ended at 6,386.36, shedding 36.87 points 0.57 per cent. The broader All Shares Price Index (DSI) went down by 28.56 points or 0.54 per cent to close at 5,303.13. The DSE-20 index comprising blue-chip shares lost 29.74 points or 0.75 per cent to 3,931.04. However, Fakhor Uddin Ali Ahmed, president of Chittagong Stock Exchange said the market's behaviour is good and it's a normal price correction. "The market's behavour is good and stable and it will be more stable in coming days as the investors are more cautious for investing," Mr Ahmed said. "Many investors booked profit mainly on banking and non-banking financial issues on the last trading day of the week and wanted to remain in safe zone," said a leading merchant banker. The transaction amount was less than Tk 10 billion for the second consecutive day which indicates cautiousness from majority of the traders adopting a wait and see policy. The daily turnover stood at Tk 8.55 billion in value terms, up by 7.9 per cent, from Tk 7.93 billion in the previous session. The losers dominated over the gainers as out of 256 issues traded, 98 advanced, 157 declined and one remained unchanged. A total of 87.69 million shares changed hands on the day against 61.35 million in the previous session. The trade deals also increased to 173,197 against Tuesday's 169,780. Market capitalization slightly decreased to Tk 2,869.89 billion against Tk 2,876.20 billion in the previous session. Banking issues, which make up more than one-third of the market capitalization lost 0.85 per cent on the day. As out of 29 banks traded, only three banks---IFIC Bank, Shajalal Bank and Prime Bank gained on the day while 26 banks lost. Grameenphone (GP), the most weighted shares in DSE and the lone listed company in telecommunications sector continued to gain and advanced Tk 0.80 per share and closed at Tk 170.04. Grameenphone gained 0.95 per cent on the day. In the financial sector 20 issues traded, only two issues-LankaBangla Finance and ICB gained on the day while 18 issues declined. Overall the NBFIs sector lost 0.46 per cent.