Stocks high on banking gains
Friday, 11 September 2009
FE Report
Dhaka stocks closed slightly higher Thursday, ending the week on a positive note, as investors' mood was boosted by gains in banks and mutual funds.
The market started upbeat in the morning as the benchmark index climbed on the back of across the board gain of all sectors. It lost momentum after mid-session on price correction in some sectors.
The benchmark DSE General Index (DGEN) closed at 2942.43 with a gain of 10.57 points or 0.36 per cent, trimming early gains of 17 points.
The broader All Shares Price Index (DSI) rose 8.87 points or 0.36 per cent to end at 2472.71. The DSE 20 blue chip index edged 11.88 points, or 0.36 per cent, higher to finish at 2132.43.
Most of the non-banking financial institutions (NBFIs) and energy issues lost. Pharmaceuticals and insurance sectors also ended with mixed results.
Out of 241 issues traded, 153 advanced, 82 declined and six remained unchanged.
The turnover remained almost the same at Tk 4.47 billion, an increase of 2.7 per cent over the previous session.
Brokers said banks, the bellwether of the country's bourses, snapped poor shows after more than a week, boosting up overall index gain. Most of the mutual funds also ended up in the positive territory.
"The market mood was up as banking issues did pretty well. However, the gains were slow due to private placement for some forthcoming initial public offerings (IPOs)," Ahmed Rashid, owner of brokerage house Rashid and Investment Services.
Navana CNG, a leading refilling gas service provider which made debut late last month, was the top turnover leader with shares worth Tk 414.30 million changing hands.
Its price however tumbled by 4.76 per cent to close at Tk 193.90 after Securities and Exchange Commission ordered probe into unusual trading of its stocks.
Beximco Ltd, the parent company of the leading industrial conglomerate's Beximco Group, came second in turnover with shares worth Tk 227.05 million transacted.
The two were followed by Bextex, Summit Alliance Port, AIMS First Mutual Fund, Beximco Pharma, Aftab Automobiles, Titas Gas and Summit Power.
Mithun Knitting, a medium-sized textile firm, was the top gainer posting a rise of 12.83 per cent on hints that the owners would declare better-than-expected dividend.
Sonargaon Textile, Apex Weaving, Hakkani Pulp and Paper were the other top gainers.
Apex Weaving, Savar Refractories, Samorita Hospital, Rahim Textile, Navana CNG and Monno Staffler were the major losers.
Dhaka stocks closed slightly higher Thursday, ending the week on a positive note, as investors' mood was boosted by gains in banks and mutual funds.
The market started upbeat in the morning as the benchmark index climbed on the back of across the board gain of all sectors. It lost momentum after mid-session on price correction in some sectors.
The benchmark DSE General Index (DGEN) closed at 2942.43 with a gain of 10.57 points or 0.36 per cent, trimming early gains of 17 points.
The broader All Shares Price Index (DSI) rose 8.87 points or 0.36 per cent to end at 2472.71. The DSE 20 blue chip index edged 11.88 points, or 0.36 per cent, higher to finish at 2132.43.
Most of the non-banking financial institutions (NBFIs) and energy issues lost. Pharmaceuticals and insurance sectors also ended with mixed results.
Out of 241 issues traded, 153 advanced, 82 declined and six remained unchanged.
The turnover remained almost the same at Tk 4.47 billion, an increase of 2.7 per cent over the previous session.
Brokers said banks, the bellwether of the country's bourses, snapped poor shows after more than a week, boosting up overall index gain. Most of the mutual funds also ended up in the positive territory.
"The market mood was up as banking issues did pretty well. However, the gains were slow due to private placement for some forthcoming initial public offerings (IPOs)," Ahmed Rashid, owner of brokerage house Rashid and Investment Services.
Navana CNG, a leading refilling gas service provider which made debut late last month, was the top turnover leader with shares worth Tk 414.30 million changing hands.
Its price however tumbled by 4.76 per cent to close at Tk 193.90 after Securities and Exchange Commission ordered probe into unusual trading of its stocks.
Beximco Ltd, the parent company of the leading industrial conglomerate's Beximco Group, came second in turnover with shares worth Tk 227.05 million transacted.
The two were followed by Bextex, Summit Alliance Port, AIMS First Mutual Fund, Beximco Pharma, Aftab Automobiles, Titas Gas and Summit Power.
Mithun Knitting, a medium-sized textile firm, was the top gainer posting a rise of 12.83 per cent on hints that the owners would declare better-than-expected dividend.
Sonargaon Textile, Apex Weaving, Hakkani Pulp and Paper were the other top gainers.
Apex Weaving, Savar Refractories, Samorita Hospital, Rahim Textile, Navana CNG and Monno Staffler were the major losers.