Dhaka Stocks Rally on Financials
Sunday, 27 December 2009

Dhaka stocks opened the week in an upbeat mood as the bourse's benchmark index gained by one percent.

The general index or the DGEN ended on 4475.44, rising by 46.25 points or 1.04 percent from previous day's closing.

The broader all share price index or the DSI increased 29.55 points or 0.80 percent to 3695.41.

Moderate gains in banking and insurance shares led Sunday's gains.

All banking shares except for a few saw a rise in prices. The sector, on an average, gained by 1.67 percent.

AB Bank, Brac Bank, Dhaka Bank, Eastern Bank, Exim Bank, Mercantile Bank, Prime Bank and Shahjalal Islami Bank rose by over 2 percent.

Meanwhile, most of the insurers' prices increased. The price rose by 1.78 percent on an average.

Pragati Insurance, Purabi General Insurance and Agrani Insurance were the top gainers of the industry gaining by 7.31percent, 6.12 percent and 3.43 percent respectively.

Non-bank financial institutions ended the day mixed.

In the power and energy sector, DESCO and Titas gas managed to gain while Power Grid Company of Bangladesh and Summit power edged down.

The day was a bad one for oil company shares as state-owned entities, Padma Oil, Meghna Petroleum and Jamuna Oil suffered losses with IT shares following.

Most of the pharmaceutical shares fell excepting multinationals like, ACI, Glaxo SmithKline, Reckitt Benckiser along with local company Ibn Sina gained.

Among the traded 232 issues, 115 lost, 113 gained and four held steady while the total turnover reached to Tk 7.54 billion.

Prime Bank was the turnover leader with shares worth Tk 414.932 million trading.

Lanka Bangla Finance, AB Bank, Grameenphone and Beximco were the other top turnover-makers.

The Chittagong Stock Exchange also closed higher.

The CSCX or selective categories index rose 82.93 points or 0.99 percent to close at 8434.18.

The CASPI or all share price index ended on 12982.98, up by 99.16 points or 0.76 percent.

Of the traded issues, 74 declined, 77 advanced with six scrips holding steady.

Turnover amounted to Tk 549.508 million through 4,611,265 shares changing hands.

Grameenphone topped the turnover board, with shares worth Tk 65.72 million changing hands.

AIMS 1st Mutual Fund, AB Bank, National Life Insurance and Lanka Bangla Finance were the other turnover leaders.

Source: bdnews24.com

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