Tk 50b wiped off DSE since Oct 9
Tuesday, 11 November 2008
FE Report
DGEN, the benchmark index of Dhaka Stock Exchange (DSE) deviated Monday from its sinking-trend and rose nearly 33 points, for the second time in more than a week's time, amidst violent demonstration by a group of small investors in front of the DSE building.
The uptrend in stock prices, however, did not match with the day's turnover, a paltry Tk. 1.73 billion.
Over Tk. 50 billion have been wiped off the DSE since October 9 last when the market started falling abruptly.
The benchmark index DGEN nose-dived to 14-month low at around 11:15 am that prompted a good number of investors to leave the chambers of brokerage houses.
The investors gathered in front of the DSE building and started chanting slogans, halting traffic movement for about half an hour until the police brought the situation under control, witnesses said.
Police charged baton to disperse the demonstrators, causing minor injuries to several protesters and arrested one demonstrator, they said.
The police, later, released the arrested person.
The demonstrators demanded of the securities regulator to save the market that has shed more than 300 points over the last five weeks.
The Monday's demonstration was the second one in a couple of week's time. On November 3, a group of retail investors staged similar demonstration outside the bourse.
The benchmark DSE General Index (DGEN), All Shares Price Index (DSI) and DSE-20 Index (DS20) comprising blue chips gained 32.55 points, 25.66 points and 10.56 points to end at 2616.57, 2172.26 and 2252.41 respectively.
The market gained on the day following buying support from the institutional investors, sources said.
Trading at the prime bourse fluctuated heavily throughout the whole trading session, reflecting nervousness among investors.
"The continuous fall of the market has made some of the investors nervous," said Salahuddin Ahmed Khan, DSE chief executive officer. "However, some investors preferred to remain inactive, watching the developments in the market," he added.
There is no fund crisis in the market but confidence crisis persists because of persistent fall in stock prices, Khan said.
The day's total turnover, however, declined to Tk 1.73 billion from the previous day's Tk 2.09 billion while the market capitalisation rose to Tk 950.29 billion from Tk 941.69 billion.
The gainers, however, took a strong lead over the losers on the day. Out of the total 230 issues traded on the day, 172 gained, 51 declined and seven remained unchanged.
Beximco Pharma was the top turnover leader with shares worth Tk 211.83 million traded.
The other turnover leaders on the day included Titas Gas, ACI Limited, Beximco Limited, Lankabangla Finance Limited, DESCO and Islami Bank.
Federal Insurance was the top gainer posting a rise of 15.00 per cent. Anwar Galvanizing, 3rd ICB, Daffodil Computers, Padma Oil, 8th ICB, Midas Finance and Rangpur Foundry were other top gainers.
DGEN, the benchmark index of Dhaka Stock Exchange (DSE) deviated Monday from its sinking-trend and rose nearly 33 points, for the second time in more than a week's time, amidst violent demonstration by a group of small investors in front of the DSE building.
The uptrend in stock prices, however, did not match with the day's turnover, a paltry Tk. 1.73 billion.
Over Tk. 50 billion have been wiped off the DSE since October 9 last when the market started falling abruptly.
The benchmark index DGEN nose-dived to 14-month low at around 11:15 am that prompted a good number of investors to leave the chambers of brokerage houses.
The investors gathered in front of the DSE building and started chanting slogans, halting traffic movement for about half an hour until the police brought the situation under control, witnesses said.
Police charged baton to disperse the demonstrators, causing minor injuries to several protesters and arrested one demonstrator, they said.
The police, later, released the arrested person.
The demonstrators demanded of the securities regulator to save the market that has shed more than 300 points over the last five weeks.
The Monday's demonstration was the second one in a couple of week's time. On November 3, a group of retail investors staged similar demonstration outside the bourse.
The benchmark DSE General Index (DGEN), All Shares Price Index (DSI) and DSE-20 Index (DS20) comprising blue chips gained 32.55 points, 25.66 points and 10.56 points to end at 2616.57, 2172.26 and 2252.41 respectively.
The market gained on the day following buying support from the institutional investors, sources said.
Trading at the prime bourse fluctuated heavily throughout the whole trading session, reflecting nervousness among investors.
"The continuous fall of the market has made some of the investors nervous," said Salahuddin Ahmed Khan, DSE chief executive officer. "However, some investors preferred to remain inactive, watching the developments in the market," he added.
There is no fund crisis in the market but confidence crisis persists because of persistent fall in stock prices, Khan said.
The day's total turnover, however, declined to Tk 1.73 billion from the previous day's Tk 2.09 billion while the market capitalisation rose to Tk 950.29 billion from Tk 941.69 billion.
The gainers, however, took a strong lead over the losers on the day. Out of the total 230 issues traded on the day, 172 gained, 51 declined and seven remained unchanged.
Beximco Pharma was the top turnover leader with shares worth Tk 211.83 million traded.
The other turnover leaders on the day included Titas Gas, ACI Limited, Beximco Limited, Lankabangla Finance Limited, DESCO and Islami Bank.
Federal Insurance was the top gainer posting a rise of 15.00 per cent. Anwar Galvanizing, 3rd ICB, Daffodil Computers, Padma Oil, 8th ICB, Midas Finance and Rangpur Foundry were other top gainers.