Stocks Down As Retail Investors Hold Back
Friday, 03 April 2009

Markets ended down on Thursday as retail investors held back from trade.

Brokerage house officials said only large-scale and institutional investors were engaged in buying.

"Retail investors are not trading as they appear panicked by the recent market downtrend," an official of Lanka Bangla Securities told bdnews24.com.

Heavy fall of the blue chip shares on the two bourses also paced the downfall in indices.

Meanwhile, turnover on the country's twin bourses registered a slight increase while trading volume witnessed a significant fall from the previous day.

Dhaka Stock Exchange saw 27, 807,484 shares worth Tk 4.68 billion changing hands, slightly up from Tuesday's Tk 4.10 billion.

Turnover on port city Chittagong's bourse reached Tk 532.228 million from trading of 4,772,741 shares—up from Tk 450.978 million the previous day.

Indices down across the board

Dhaka stocks maintained a downward trend across the day with a rise in the midday sessions.

The DGEN or general index fell 14.61 points or 0.59 percent, closing on 2428.63.

The DSI or all share price index ended on 2019.52, down 9.37 points or 0.46 percent.

The blue-chip DSE-20 lost 22.66 points or 1.20 percent to finish on 1853.28.

Losers beat gainers 137 to 113 while four issues held steady.

Indices on the Chittagong Stock Exchange fell due to fall in banks, mutual funds, insurance and leather shares.

The CSCX or selective categories index lost 29.57 points or 0.60 percent to close at 4867.83.

The CASPI or all share price index ended on 7555.01, falling 32.89 points or 0.43 percent.

The CSE-30 blue-chip index slumped 119.27 points or 2.07 percent to finish at 5635.79.

Of the traded issues, 90 declined, 66 advanced with four scrips unchanged.

DSE's top ten by turnover

Summit Power topped the board with a turnover of Tk 511.267 million. It rose 3.50 percent to Tk 1181.50.

Beximco followed, with turnover of Tk 463.483 million, to end 8.10 percent up at Tk 224.10.

Power Grid Company of Bangladesh ended on Tk 589, edging up 1.81 percent. It saw shares worth Tk 206.487 million changing hands.

S Alam Cold Rolled Steels lost 1.13 percent to Tk 694.50 with a turnover of Tk 194.218 million.
DESCO had shares worth Tk 180.880 million traded and gained 7.45 percent to end on Tk 1177.75.

Among the other scrips on the turnover board— Beximco Synthetic, Eastern Housing Ltd and Beximco Pharmaceuticals—rose on buying pressure.

Summit Alliance Port Ltd and Titas Gas fell.

Source: bdnews24.com

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