Stocks rebound, DGEN hits highest mark
Friday, 6 November 2009
FE Report
Dhaka stocks ended the week with positive sentiment Thursday. The benchmark index hit its highest mark, snapping a two-day profit taking falling streak.
Buying spree on financial institutions stocks pushed the benchmark Dhaka Stock Exchange (DSE) General Index (DGEN) index up to 3413.52, which is a new high, adding 9.88 points or 0.29 per cent.
The previous all-time high was 3412.92 set just
two-day back. The market recovered 10 points from the last two days' profit taking fall of same points.
The broader DSE All Shares Price Index (DSI) slipped 2.10 points or 0.07 per cent to close at 2848.63 while DSE -20 blue chip index dropped 18.54 points or 0.80 per cent to close at 2294.99.
Gainers took a modest gain over the losers as out of 233 issues traded, 118 went into the positive territory, 112 into the negative territory and three remained unchanged.
The daily turnover came down to Tk 8.45 billion, down 12 per cent against the previous session's Tk 9.76 billion.
"The NBFIs and insurers rally pushed the market up," said Abdul Awal, managing director of the Multi Securities and Investment Ltd. "Buying got a big boost after the central bank's directive," he added.
The Bangladesh Bank (BB) asked previous day the leasing companies or NBFIs to increase their paid-up capital to Tk 500 million by December 31, 2010.
The leasing companies could issue Initial Public Offerings or right shares or bonus shares within the timeframe to meet the new paid-up capital requirement.
The banking issues, the bell weather of the market, rebounded on the day gaining 0.89 per cent with Dutch-Bangla Bank rising highest of 5.10 per cent.
The mutual funds ended mixed with the overall sector gaining marginally, reversing over the couple of day's falling streak.
Dhaka stocks ended the week with positive sentiment Thursday. The benchmark index hit its highest mark, snapping a two-day profit taking falling streak.
Buying spree on financial institutions stocks pushed the benchmark Dhaka Stock Exchange (DSE) General Index (DGEN) index up to 3413.52, which is a new high, adding 9.88 points or 0.29 per cent.
The previous all-time high was 3412.92 set just
two-day back. The market recovered 10 points from the last two days' profit taking fall of same points.
The broader DSE All Shares Price Index (DSI) slipped 2.10 points or 0.07 per cent to close at 2848.63 while DSE -20 blue chip index dropped 18.54 points or 0.80 per cent to close at 2294.99.
Gainers took a modest gain over the losers as out of 233 issues traded, 118 went into the positive territory, 112 into the negative territory and three remained unchanged.
The daily turnover came down to Tk 8.45 billion, down 12 per cent against the previous session's Tk 9.76 billion.
"The NBFIs and insurers rally pushed the market up," said Abdul Awal, managing director of the Multi Securities and Investment Ltd. "Buying got a big boost after the central bank's directive," he added.
The Bangladesh Bank (BB) asked previous day the leasing companies or NBFIs to increase their paid-up capital to Tk 500 million by December 31, 2010.
The leasing companies could issue Initial Public Offerings or right shares or bonus shares within the timeframe to meet the new paid-up capital requirement.
The banking issues, the bell weather of the market, rebounded on the day gaining 0.89 per cent with Dutch-Bangla Bank rising highest of 5.10 per cent.
The mutual funds ended mixed with the overall sector gaining marginally, reversing over the couple of day's falling streak.