11:00 PM, October 06, 2009 / LAST MODIFIED: 11:00 PM, October 06, 2009

DGEN hits all-time high

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Star Business Report

The benchmark index of Dhaka Stock Exchange hit its highest-ever level in history at 3,215.79 points yesterday, as the market was on a steady gaining streak for a third day.
Operators said a gradual increase in investors' confidence helped the market set the new record.
“As subscription of the largest-ever initial public offering, Grameenphone IPO, is going on, the market is on the rise. It proves that the strength of the market is increasing and confidence of the existing and new investors is on an upward climb,” DSE President Rakibur Rahman said.
He said it was predicted earlier that the market would experience a downward trend during the Grameenphone IPO subscription period. “But instead, the market is going up that proves it is ready to absorb big issues like Grameenphone,” said Rahman, also the managing director of Midway Securities.
The government should now offload its stakes in different entities like hotel, motel, telecom companies and airlines, he said.
The government should also raise funds for financing big power plants and infrastructure projects.
The benchmark DSE General Index (DGEN) went up by 28.08 points, or 0.88 percent, yesterday. Earlier, the index hit an all time high when it closed at 3,207.89 points on June 1 last year.
The DSE introduced the general index on November 27, 2001 with a base of 817.62 points. The index, which excludes 'Z' category companies, is calculated on the basis of individual stock price movement under 'A', 'B', 'G' and 'N' categories.
Previously, there was only one index that included all securities of the stock exchange. Starting with a base of 350 points, the index rose as high as 3,648.75 points on November 5, 1996, when the market witnessed a 'bubble and bust'.
The broader DSE All Share Price Index was reintroduced on March 28, 2005, and the DSE-20 was introduced on January 1, 2001.
The advancers beat losers 133 to 105 yesterday with four securities remaining unchanged. A total of 4,90,38,259 shares and mutual fund units worth Tk 924.12 crore were traded on the DSE.
Jamuna Oil topped the list of turnover leaders with 11,43,500 shares worth Tk 38.91 crore being traded on the premier bourse.
Reckitt Benckiser (BD) was the largest gainer of the day with a 14.78 percent rise, while Alpha Tobacco was the biggest loser, declining by 17.2 percent.
Chittagong stocks also posted rise yesterday. The CSE Selective Categories Index gained 36.49 points, or 0.52 percent, to reach 6,935.74. The CSE All Share Price Index increased by 77.09 points, or 0.7 percent, to reach 10,071.58.
A total of 74,33,540 shares and mutual fund units worth Tk 92.92 crore changed hands on the Chittagong Stock Exchange. Of the traded securities, 94 advanced, 75 declined and one remained unchanged.

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