Stocks return from losses
Dhaka stocks returned to the black yesterday, as shares of small-cap sectors offset losses in two major sectors: banking and telecom.
The benchmark index of Dhaka Stock Exchange, DSE General Index, rose 6.95 points, or 0.15 percent to 4,410.47.
Insiders said shares in small-cap sectors rose on rumours that the denomination in Tk 10 face-value shares would not come into effect.
It was rumoured in the market that the existing face value of shares, whatever it is, would not be changed as per a decision taken by the finance ministry.
“The investors took the rumour positively and bet on small-cap securities with Tk 10 in face value,” said a broker.
On November 25, a parliamentary standing committee on finance ministry recommended uniform face value of shares. The committee also suggested the Securities and Exchange Commission set the common face value in consultation with the Dhaka and Chittagong stock exchanges.
Meanwhile, the SEC has directed the bourses not to allow companies other than state-owned enterprises to be listed under direct listing regulations.
The banking sector declined in back-to-back sessions as most banks traded in the red yesterday.
The telecommunication sector, which comprises only Grameenphone, fell for a third session with the share price of the cellphone operator sliding 0.63 percent on the DSE.
The broader DSE All Share Price Index gained 12.06 points, or 0.32 percent to 3,671.41.
Advancers beat losers 138 to 90 with three securities remained unchanged. A total of 3,15,20,593 shares and mutual fund units worth Tk 1,016.07 crore were traded on the premier bourse.
AB Bank topped the turnover leaders with 3,15,625 shares worth Tk 34.33 crore being traded.
ISN was the largest gainer that rose 10.87 percent, while IPDC was the biggest loser declining 4.56 percent on the DSE.
Chittagong stocks also marked a slight rise yesterday. The CSE Selective Categories Index gained 13.55 points, or 0.16 percent to 8,290.99. The CSE All Share Price Index increased 43.82 points, or 0.34 percent, to 12,897.42.
A total of 38,13,892 shares and mutual fund units worth Tk 72.49 crore changed hands on the port city bourse. Of the traded securities, 88 advanced, 72 declined and four remained unchanged.
Pubali Bank topped the turnover leaders with 60,520 shares worth Tk 3.96 crore trading on the Chittagong Stock Exchange.
Quasem Drycells, which advanced 19.77 percent, was the biggest gainer, while IPDC, which declined 5.35 percent, was the biggest loser.