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Stocks finish up, paced by heavy buying PDF Print E-mail
Monday, 31 March 2008

Agency

Dhaka stocks finished higher Sunday amid investors' heavy buying with turnover and trading volume rising from the previous day. Investors throughout the day were trading mostly in issues of banks, power, pharmaceuticals, cement and mutual funds.

Market watchers termed the day's trading positive as the turnover board witnessed a mixed closing.

"Sunday's turnover board comprises issues of a couple of sectors which indicates investors are exploring investment opportunities," Dhaka Stock Exchange's chief executive Salahuddin Ahmed told bdnews24.com.

The DSE general index rose sharply for the first two hours and remained more or less stable over the day before gaining a bit towards the end of trading. The benchmark DGEN or general index rose 49.59 points, or 1.66 percent, to end on 3021.68.

The DSI or all-share price index finished at 2551.87, up 38.97 points, or 1.55 percent. The bourse's blue-chip DSE-20 advanced 35.08 points, or 1.52 percent, to end on 2341.51.

Turnover on the country's prime bourse increased to Tk 3.04 billion from 17,336,774 traded shares. Advancers outnumbered decliners 144 to 98, with twelve issues remaining unchanged.

The day witnessed pharmaceuticals, cement and power companies advancing while most of the banks followed with mutual funds closing mixed. Square Pharma topped the turnover board, finishing 5.06 percent higher at Tk 4090.50. AB Bank followed it to close at Tk 3363.25, up 1.77 percent.

Power Grid Company of Bangladesh continued to gain from last week, advancing 0.72 percent to end on Tk 692. Heidelberg Cement increased 8.05 percent to Tk 1405.25 while Uttara Bank gained 7.54 percent from the previous day to finish at Tk 5342.25. Among the other scrips on the turnover board—Lafarge Surma Cement, DESCO and ACI—also rose. IFIC and Grameen Mutual Fund One fell on profit-taking.

Indices on the Chittagong Stock Exchange also closed upbeat with the sectors closing mixed. Leather and cement sectors enjoyed the largest gain while mutual funds and ceramics fell the most.

The CSCX or selective categories index ended on 5359.15, up 57.49 points or 1.08 percent. The CASPI or all-share price index rose 78.12 points or 0.95 percent to finish at 8302.00, surpassing the previous highest ever mark of 7475 points on Feb 4, 2008.

The CSE-30 blue-chip surged 154.02 points, or 2.20 percent, to close at 7133.30. Turnover on the port city's bourse however, slumped to Tk 216.14 million from Tk 365.37 million the previous day. Losers beat gainers 72 to 54. Four issues held steady.

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