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Turnover slips on twin bourses PDF Print E-mail
Wednesday, 23 April 2008

Agency
Turnover on the country's twin bourses went down Tuesday, influenced by sell-offs of oil company shares.

"We dealt with huge selling orders of oil companies and major issues that witnessed a price hike the previous day," an official with brokerage house Latif Securities told bdnews24.com.

Indices on the Dhaka Stock Exchange however edged up due to a buying spree in mutual funds.

Market watchers termed the day's trading positive, saying that investors were buying and selling sensibly.

"It seems that the investors are trading in a logical manner rather than going after hunches," said DSE vice-president Ahmad Rashid.

The benchmark DGEN or general index rose sharply in the first one and a half hours of trade to remain more or less stable until the midday session before falling again to finish higher. It went up 3.40 points or 0.11 percent to close at 3084.77.

The DSI or all-share price index finished at 2601.81, rising 5.65 points, or 0.21 percent from the previous day.

The bourse's blue-chip DSE-20 however lost 11.39 points, or 0.47 percent lower at 2387.25.

Turnover slipped to Tk 3.55 billion from Monday's Tk 4.01 billion, with 22,604,101 shares changing hands.

Of the traded issues, 157 advanced, 92 declined and six remained unchanged.

State-run Meghna Petroleum topped the turnover board, falling 2.74 percent to Tk 283.90. Jamuna Oil followed it to end on Tk 293.20, down 4.61 percent.

AB Bank fell 0.80 percent to end on Tk 3737.50 following gains on Monday.

Pharmaceuticals major ACI rose on buying pressure to Tk 311.30, up 1.36 percent. Apex Adelchi Footwear fell on profit-taking after Monday's gains. It closed 2.57 percent down at Tk 4877.50.

Among the other scrips on the turnover board, AIMS 1st mutual fund, Heidelberg Cement and S Alam Cold Rolled Steels advanced.

Lanka Bangla Finance and Square Pharma declined after investors locked in profits.

Indices on the Chittagong Stock Exchange finished downbeat.

The CSCX or selective categories index fell 30.21 points or 0.50 percent to 5518.16 while the CASPI or all-share price index ended on 8542.43, down 30.097 points or 0.35 percent.

The CSE-30 blue-chip slumped 51.16 points or 0.68 percent to close at 7467.49.

Turnover on the port city's bourse declined to Tk 586.80 million from Tk 716.91 million the previous day from 5,188,612 traded shares.
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