Stock index stops short of 7,000 points
The Bangladesh stock market index continued its climb in tune with the rise of some key companies yesterday but stopped short of the 7,000 points landmark.
The DSEX, the benchmark index of Dhaka Stock Exchange (DSE), climbed 57 points, or 0.83 per cent, to 6,987.
Turnover, an important indicator of the stock market, rose 19 per cent, to Tk 1,683 crore. This is the highest turnover at the DSE in around one and a half months since November 21, when it was Tk 1,786 crore.
Some companies with large paid-up capitals and good performance records made advances, so the index rose, said a stockbroker. United Power Generation Distribution Company had the highest influence. Its contribution was 5 points to the DSEX, according to data of amarstock.com.
LafargeHolcim Bangladesh, Titas Gas Transmission and Distribution Company and Bangladesh Submarine Cable Company jointly contributed 12 points, showed the data.
Some big eligible investors invested funds in recent times and they chose these stocks, he said.
However, some manipulators are investing funds in low paid-up capital-based companies whose performances are substandard, just to dupe others and make a quick buck, he said.
So investors should be careful, he added.
Western Marine Shipyard topped the gainers' list, rising 10 per cent, followed by Bangladesh Shipping Corporation, Dhaka Electric supply Company (Desco), Titas Gas Transmission and Distribution Company, and Mir Akhter Hossain.
Delta Life Insurance Company was traded the most, worth Tk 118 crore, followed by Beximco, Bangladesh Shipping Corporation, Power Grid Company of Bangladesh and LafargeHolcim Bangladesh.
Prime Insurance Company shed the most, dropping 5.75 per cent, followed by National Life Insurance Company, Popular Life Insurance Company, Sonali Paper and Board Mills and Sonali Life Insurance Company. At the DSE, 164 stocks advanced, 179 fell and 35 remained the same.
Chittagong Stock Exchange (CSE) also rose yesterday. The CASPI, the main index of the CSE, edged up 168 points, or 0.82 per cent, to 20,495.
Among 308 stocks to undergo trade, 136 advanced, 135 declined and 37 remained unchanged.
Comments