Committed to PEOPLE'S RIGHT TO KNOW
Vol. 4 Num 313 Fri. April 16, 2004  
   
Business


Share prices fall on both bourses


After a bullish streak of seven trading days, share prices fell yesterday on the country's two stock exchanges.

Dhaka Stock Exchange (DSE) General Index lost 11.72 points or 1.11 percent to close at 1038.57 points from Tuesday's 1050.29 points. Of the 181 issues traded yesterday, 30 advanced, 114 declined and 37 remained unchanged.

The general index at the DSE, introduced on November 27, 2001 with the base point at 817.62, crossed the 1000-point mark for the first time on December 6 last year. Afterwards the index plunged to 940 points at one stage.

Boosted by corporate disclosures of 20 companies, including eight banks and financial institutions, the DSE general index hit 1050.29 point mark for the first time on Tuesday. The buoyancy in the secondary market started on April 4 when the index again crossed the 1000-point mark. During the buoyant run-up, the transaction was interrupted for four days due to two days of hartals and two holidays.

DSE sources said the Securities and Exchange Commission's (SEC) move to investigate the share transactions of two private banks might have led to the fall in share prices. SEC on Tuesday formed a committee to probe share transactions of Mercantile Bank and Mutual Trust Bank during the month of March.

Some 18,03,844 shares and debentures worth Tk 13.03 crore changed hands yesterday at DSE as against 23,42,973 shares valued at Tk 16.57 crore on the previous trading day.

The market capitalisation stood at Tk 107.00 billion which was Tk 108.12 billion on Tuesday.

At Chittagong Stock Exchange (CSE), all Share Price Index dropped by 12.19 points or 0.69 percent to close at 1743.32 points yesterday from Tuesday's 1755.51 points.

Of the 53 issues traded yesterday at CSE, 10 gained, 31 declined and 12 remained unchanged.

Some 9,36,843 shares and debentures worth Tk 3.64 crore changed hands yesterday as against 10,32,211 shares valued at Tk 4.23 crore on the previous trading day.

Market capitalisation stood at Tk 96.14 billion as against Tk 96.72 billion on Tuesday.