Markets Take Downturn
Friday, 24 April 2009

Markets entered into negative territory on the last trading day of the week due to profit taking mainly on bank shares.

More than seventy percent of the traded issues witnessed losses on Thursday.

A heavy fall in blue chip shares also influenced market movements.

Brokerage house officials said the hype over profit taking in banks caused other sectors to fall as well.

Some banks maintained an upward price on reports of attractive dividend declarations.

Standard Bank rose 10.37 percent while Premier Bank and Social Investment Bank gained 7.94 percent and 6.12 percent respectively.

Meanwhile, mutual funds, insurers and non bank financial institutes lost.

Power shares shrugged off losses while most of the energy shares fell.

Textile and pharmaceuticals continued to slip.

Turnover on the twin exchanges was little changed from the previous day's.

Dhaka stocks saw shares worth Tk 4.77 billion changing hands, slightly higher from Wednesday's Tk 4.56 billion.

Turnover on Chittagong Stock Exchange reached Tk 623.577 million, edging down from Tk 644.344 million the previous day.

Dhaka Stock Exchange

DSE's benchmark general index lost 14.88 points or 0.57 percent to close at 2596.66.

The DSI or all share price index ended on 2150.65, plunging 14.61 points or 0.6 percent.

The blue-chip DSE-20 fell 27.12 points or 1.32 percent to finish on 2014.04.

Losers outnumbered gainers 174 to 64 while four issues held steady.

Summit Power remained turnover leader with shares worth Tk 521.492 million changing hands. It rose 7.9 percent to Tk 1214.75.

Social Investment Bank followed with a turnover of Tk 300.406 million to gain 6.12 percent on Tk 247.

Beximco ended on Tk 238.50, slipping 0.50 percent. It saw shares worth Tk 268.961 million traded.

AB Bank's turnover reached to Tk 221.940 million, it lost 2.79 percent to 764.50.

Market major Uttara Bank saw turnover worth Tk 194.648 million. It crept down 1.36 percent to finish at Tk 2236.25.

Among the other scrips on the turnover board—Titas Gas, Summit Alliance Port Ltd and Southeast Bank—closed upbeat.

Aftab Automobiles as investors locked in profits.

Chittagong Stock Exchange

The CSCX or selective categories index fell 12.41 points or 0.22 percent to close at 5464.04.

The CASPI or all share price index ended on 8378.84, down by 12.41 points or 0.22 percent.

The CSE-30 blue-chip slumped 82.35 points or 1.22 percent to finish at 6623.56.

Of the traded issues, 103 declined, 36 advanced with three scrips unchanged.

Source: bdnews24.com

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