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Dhaka stocks rising extremly

Dhaka stocks perked up Wednesday as investors went for bargain hunting in a market that saw prices attractive following recent fall.

The prime bourse’s benchmark general index or DGEN rose 59.26 points or 1.36 percent to close at 4415.27. The DSI or all-share price index ended on 3676.44, up 45.75 points or 1.26 percent.

Blue chip DSE-20 index edged up 9.81 points or 0.39 percent to finish at 2514.30.

The market bellwether, banks, ended the day mixed with quite a few of them gaining significantly, maintaining a trend of recovery from the recent losses.

Most of the non-bank financial institutions and insurers gained while mutual funds shared a mixed trend of rise and fall.

All power issues edged up, but the day turned out to be a great one for oil stocks.

Sate-owned entities Padma Oil, Meghna Petroleum and Jamuna Oil rose almost 15 percent, 10 percent and 2 percent respectively. All of them made places at the list of top 20 shares.

The day’s trading left 173 issues out of 234 traded gainers while 55 losers and six held steady.

Meghna Petroleum came out as the turnover leader with shares worth Tk 392.205 million changing hands followed by Lanka Bangla Finance, Jamuna Oil, Beximco and City Bank.

Market operators found the trend as “healthy”.

“Today’s [Wednesday] trading seems to be a healthy one with a balance in buying and selling,” DSE senior vice-president Saiful Islam told

Investors went for buying those shares that were lucrative following their recent falls, especially the banks while other sectors moved rationally, he added.

Meanwhile, the Chittagong Stock Exchange also ended up with about 65 percent of the scrips gaining in value.

The benchmark Selective Categories Index or the CSCX ended at 8265.18, surging 89.18 points or 1.09 percent.

AIMS 1st mutual fund topped the turnover list with shares of Tk 692,500 traded followed by Dacca Dyeing, Bex Tex, Metro Spinning and Grameenphone.

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This entry was posted on Friday, December 11th, 2009 at 6:40 am and is filed under Bangladesh, economy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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