Stocks Fall, Protests Continue at DSE
Monday, 13 July 2009

Stocks fell Monday, with over 60 percent of scrips on the country's twin-bourses losing value, as investors sought to lock in profits.

Dhaka Stock Exchange's benchmark index shed 14 points, while the Chittagong Stock Exchange's key index dropped more than 50 points.

Meanwhile, small investors continued the previous day's demonstrations in front of the DSE building protesting "conspiracies" against Beximco Group, which they say resulted in widespread investment losses.

A statement released by the group Sunday said there was a deep-rooted conspiracy and ongoing negative propaganda campaign being conducted against the company.

The group also termed a DSE letter sent on July 5 to brokerage firms and institutional investors that requested transaction details for shares in Beximco Ltd and Bex Tex Ltd a "biased step".

Brokerage house officials said the day's trading was dominated by sellers.

"Buying was very low today," an official of Latif Securities told bdnews24.com.

Some scrips nevertheless attracted investors, with large-scale ones winning on the basis of favourable prices, said investment consultant Bashir Ahmed.

"Issues such as Beximco and Titas gas increased, although marginally," said Ahmed, who works for a brokerage firm.

Turnover on the country's premier bourse fell to Tk 6.70 billion, from Sunday's Tk 7.30 billion.

The DSE general index or DGEN dropped 14.55 points, or 0.48 percent, to close at 2965.96.

The DSI or all share price index ended on 2483.81, slipping 10.34 points, or 0.41 percent.

The blue chip DSE-20 fell 17.89 points, or 0.75 percent, to end on 2359.16.

Of the scrips traded, 140 declined, 85 advanced and ten remained unchanged.

Beximco topped the turnover board, with shares worth Tk 563.105 million traded, edging up 0.75 percent to Tk 308.25.

Titas Gas followed with a turnover of Tk 559.655 million, gaining 0.47 percent to end on 690.

Bex Tex saw Tk 341.230 million worth of shares traded, rising 1.91 percent to close at Tk 63.80.

AB Bank had Tk 328.057 million in turnover, ending on Tk 1045, down by 2.03 percent on profit taking.

Beximco Pharma ended on Tk 183.70, crawling up 0.65 percent. Shares worth Tk 292.869 million changed hands.

Of other scrips on the turnover board—Summit Power, Lanka Bangla Finance, Bangladesh Online Ltd, Islami Bank and Grameen Mutual Fund One: Scheme 2 all fell on profit taking.

Chittagong Stocks

Indices on the port city bourse also ended downbeat due to the selling spree.

The CSCX or selective categories index lost 56.94 points, or 0.87 percent, to close at 6461.08.

The CASPI or all share price index ended on 10311.12, slumping 77.82 points, or 0.74 percent.

The CSE-30 blue chip ended on 8061.24, shedding 73.73 points, or 0.90 percent.

Losers beat gainers by 98 to 50 and five scrips held steady.

Turnover on the port city bourse rose to Tk 805.403 million from the previous day's total of Tk 758.900 million.

AB Bank closed as turnover leader, with shares of Tk 113.013 million changing hands.

Bex Tex, Beximco Ltd, Beximco Pharmaceuticals and Grameen Mutual Fund One: Scheme 2 were the other turnover leaders.

Source: bdnews24.com

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