Stocks rise for 15th straight session
Tuesday, 12 January 2010
FE Report
Dhaka stocks rose for the 15th straight session Monday, led by financials and Grameenphone, amid volatile trading.
The market started with a very positive notion gaining 23 points in the first 15 minutes of trade. After gaining a little bit it fell to its original position in the next one hour and ten minutes and then began to rise up through small ups and downs to close higher.
The benchmark DSE General Index (DGEN) gained 18.89 points or 0.39 per cent to end at 4749.63, which is a fresh high.
The broader All Shares Price Index (DSI) added 15.37 points or 0.39 per cent to finish at 3933.06 while DSE-20 comprising blue chip index rose 1.80 points or 0.6 per cent to 2764.84.
"Grameenphone and banking stocks pulled the market up," said BRAC-EPL, an investment bank, in its market analysis.
Grameenphone, the country's largest mobile operator and accounting for 17 per cent of the total market capitalisation, gained 2.34 per cent to Tk 196.80, reversing from its losing trend.
Banking sector, the bellwether of the market, was back on track after suffering in the last session.
BRAC Bank, a leading private bank, was the highest gainer with 4.50 per cent rise, followed by Mercantile Bank with 3.90 per cent and First Security Bank.
The daily turnover was Tk 10.71 billion, down more than 19 per cent over the pervious session's record high of Tk 13.24 billion.
Gainers took a modest gain over the losers as out of 242 issues traded, 111 ended in the green, 127 closed in the red and four remained unchanged.
Pharmaceuticals and energy sectors, which were top performing companies in the previous day, dropped as the investors booked profit.
Non-banking financial institutions (NBFIs) and general insurers continued to nudge lower while cement, life insurers and tannery sectors gained. All subsidiaries of the industrial conglomerate Beximco Group declined.
Dhaka stocks rose for the 15th straight session Monday, led by financials and Grameenphone, amid volatile trading.
The market started with a very positive notion gaining 23 points in the first 15 minutes of trade. After gaining a little bit it fell to its original position in the next one hour and ten minutes and then began to rise up through small ups and downs to close higher.
The benchmark DSE General Index (DGEN) gained 18.89 points or 0.39 per cent to end at 4749.63, which is a fresh high.
The broader All Shares Price Index (DSI) added 15.37 points or 0.39 per cent to finish at 3933.06 while DSE-20 comprising blue chip index rose 1.80 points or 0.6 per cent to 2764.84.
"Grameenphone and banking stocks pulled the market up," said BRAC-EPL, an investment bank, in its market analysis.
Grameenphone, the country's largest mobile operator and accounting for 17 per cent of the total market capitalisation, gained 2.34 per cent to Tk 196.80, reversing from its losing trend.
Banking sector, the bellwether of the market, was back on track after suffering in the last session.
BRAC Bank, a leading private bank, was the highest gainer with 4.50 per cent rise, followed by Mercantile Bank with 3.90 per cent and First Security Bank.
The daily turnover was Tk 10.71 billion, down more than 19 per cent over the pervious session's record high of Tk 13.24 billion.
Gainers took a modest gain over the losers as out of 242 issues traded, 111 ended in the green, 127 closed in the red and four remained unchanged.
Pharmaceuticals and energy sectors, which were top performing companies in the previous day, dropped as the investors booked profit.
Non-banking financial institutions (NBFIs) and general insurers continued to nudge lower while cement, life insurers and tannery sectors gained. All subsidiaries of the industrial conglomerate Beximco Group declined.