Dhaka stocks down
DSE stocks were down yesterday as a result of falling prices, primarily, of share of banking, investment, pharmaceutical and cement companies.
The DSE General Index declined by 13.77 points, or 0.45 percent, to 3022.25 points, while the DSE All Share Price Index fell by 6.15 points, or 0.23 percent, to 2591.12 points.
Yesterday the Dhaka stock market started with some prospect for something better as it gained 24 points in first 15 minutes of trading. But in the next 45 minutes market lost about 28 points. After regaining 13 points in next half an hour, market started to lose points at a steady rate for the rest of the day and ended with a flat mood.
Most of the banks and mutual funds lost few points over the previous day, while companies in pharmaceuticals, tannery and cement sectors lost few points.
The power and insurance sector, however, was up and non-banking financial institution sector was mixed.
A total of 1,38,73,446 shares, worth Tk 251.26 crore, changed hands on the Dhaka Stock Exchange (DSE). Of the issues traded, 81 advanced, 129 declined and 16 remained unchanged.
According to several market insiders, Titas Gas, a state-run Company that is scheduled to make its debut on the stock exchange on Sunday, might be one reason for the downtrend of the stock market, as the investors are on wait to buy stakes in the company.
Titas will join the stock market through offloading of shares worth Tk 215 crore.
Like the premier bourse, share prices on the Chittagong Stock Exchange (CSE) also fell yesterday with the losers dominating the gainers.
The CSE Selective Categories Index fell by 21.67 points, or 0.36 percent, to 5880.51 points, while the CSE All Share Price Index declined by 31.04 points, 0.34 percent, to 9090.36 points.
A total of 29,07,702 shares, worth Tk 34.92 crore, changed hands on the port city bourse.
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