Dhaka stocks close up after busy trading week
Friday, 06 June 2008


Dhaka stocks continued to creep up Thursday, after witnessing almost a week of total transactions over the Tk 3 billion mark.

Banks fell on profit taking while mutual funds, non-bank financial institutes and insurers enjoyed a buying spree.

Market analysts termed the day's trading healthy.

Investors continued the previous day's trend of buying and selling for mixed portfolios, an official of brokerage house Latif Securities told bdnews24.com.

Market observer Yaweer Sayeed told bdnews24.com: "The turnover board consisted of a mixed bag which is a sign of investors' maturity."

But the problem was prices were still irrational and overvalued, added Sayeed, CEO of AIMS of Bangladesh.

The country's twin bourses witnessed a fall in turnover and trading volume.

The DGEN or general index rose on the opening bell and remained more or less stable across the day to end 15.55 points, or 0.49 percent up, at 3154.19.

The DSI or all-share price index ended on 2674.81, up by 10.74 points or 0.40 percent, while the bourse's blue chip DSE-20 index crept up 5.12 points or 0.19 percent to 2580.07.

Turnover on the country's prime bourse edged down to Tk 4.46 billion from Tk 4.98 billion through 28,167,307 shares changing hands.

Of the traded issues, 133 advanced, 103 declined and six remained unchanged.

AIMS 1st Mutual Fund continued to top the turnover board, advancing 5.79 percent to close at Tk 28.28.

Grameen Mutual Fund One also maintained gains, after the publishing of its prospectus for a second scheme; it finished at Tk 191.50, up by 7.82 percent.

Lanka Bangla Finance gained 10.36 percent to end on Tk 210.90.

Buying pressure also drove Beximco Pharmaceuticals to advance 5.74 percent to Tk 88.40.

Market major Square Pharmaceuticals lost 0.34 percent to end on Tk 5273.75.

Other scrips on the turnover board—Union Capital, Prime Finance and S Alam Cold Rolled Steel Mills—advanced.

AB Bank and IPDC lost after investors locked in profits.

All indices on the Chittagong Stock Exchange slipped, influenced by huge losses in blue chip stocks.

The CSCX or selective categories index crept down 1.78 points or 0.02 percent to 6032.59, while the CASPI or all-share price index ended down on 9334.90, slipping 7.59 points or 0.08 percent.

The CSE-30 blue-chip index fell 78.09 points or 0.95 percent to finish at 8097.47.

Turnover on the port city's bourse fell to Tk 696.51 million from Wednesday's Tk 734.36 million, with 5,703,776 shares traded.

Gainers beat losers 85 to 66 and four issues held steady.

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