Moderate gains in stocks

Dhaka stocks gained moderately yesterday, as the market reacted positively to the proposed budget for fiscal 2009-10 announced by the finance minister on Thursday.
The benchmark index of Dhaka Stock Exchange, DSE General Index, rose by 27.12 points, or 0.98 percent, to 2,774.39. The DSE All Share Price also increased by 29.99 points, or 1.31 percent, to 2,318.23.
The market started off in a positive manner, said Equity Partners Limited (EPL), an investment bank, in its regular market analysis.
“The market reacted quite positively to the budget,” the EPL analysis said.
The sectors more likely to be impacted positively by the proposed budget gained noticeably, it said.
In the first 15 minutes the benchmark index leaped about 43 points. The initial boost was caused by the combined gain in all sectors across the board.
Although the index fluctuated slightly after this, it remained quite close to this level losing only a few points.
In the following 60 minutes the index came down slightly. However, the index became more stable in the final hour of the session.
The advancers beat the losers 136 to 101. Two securities remained unchanged. A total of 3,28,06,034 shares worth Tk 696.91 crore were traded on the premier bourse.
Titas Gas topped the turnover leaders with 11,43,500 shares being traded worth Tk 66.03 crore, followed by Beximco Pharma, Summit Power, Beximco, Powergrid, Bextex, Desco, Atlas Bangladesh, Shinepukur Ceramics and Summit Alliance Port.
Chittagong stocks also posted a rise yesterday. The CSE Selective Categories Index gained 30.78 points, or 0.50 percent, to 6,155.18. The CSE All Share Price Index also increased by 85.29 points, or 0.9 percent, to 9,529.94.