Stocks Edge Down Again
Thursday, 27 August 2009

Dhaka stocks edged down again on Wednesday, with almost 60 percent of scrips declining on previous day's close, as investors sought to shield themselves from heightened market volatility experienced over the last few sessions.

"Index movements have been fluctuating, which is making many investors apprehensive," Bashir Ahmed, a brokerage firm investment consultant, told bdnews24.com.

Dhaka Stock Exchange's benchmark index shed almost 3 points, while turnover crawled up to Tk 6.16 billion from the previous day's Tk 5.96 billion.

Trading opened upbeat, but started to show its volatility shortly after the opening bell, before falling sharply in the final hour of trading.

DSE's benchmark general index, or DGEN, shed 3.15 points, or 0.10 percent, to close at 3001.60.

The all-share index or DSI lost 3.15 points, or 0.12 percent, to close at 2521.82.

The DSE-20 blue chip index fell 13.85 points, or 0.64 percent, to finish at 2122.31.

Losers outnumbered gainers 138 to 89, while six issues held steady.

Mutual funds, however, bounced back after Tuesday's mixed trend, although most banks fell.

Non-banking financial institutions (NBFI) rose on news of regulatory moves to double its capital base, although NBFIs Lanka Bangla Finance and Midas Finance edged down at the close.

Insurers eroded previous day's gains, with fuel and energy shares also declining, except Titas Gas, while power shares continued their rise.

Summit Power, the turnover leader, saw shares worth Tk 473.106 million change hands, surging 5.17 percent to close at Tk 1311.75.

Off-dock service provider Summit Alliance Port Ltd followed with a turnover of Tk 320.564 million, falling 2.39 percent to Tk 2251.50 on profit taking.

Bex Tex's turnover reached Tk 223.103 million, closing at Tk 64.90, down 2.98 percent.

ICB 2nd NRB Mutual Fund rose 4.91 percent to Tk 219, with a turnover of Tk 202.979 million.

Beximco Ltd lost 1.10 percent to close at Tk 286, seeing Tk 198.058 million worth of shares change hands.

Among other scrips on the turnover board—Jamuna Oil, Aftab Automobiles and AB Bank lost.

AIMS 1st Mutual Fund and Grameen Mutual Fund One: Scheme 2 also fell.

Source: bdnews24.com

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