DSE turnover touches Tk 1500cr Index rises 10 points

DSE turnover touches Tk 1500cr Index rises 10 points
ECONOMIC REPORTER

DSE turnover touched Tk 1500 crore due to banking sectors positive mode, after two and half months. Dhaka Stocks’ turnover stood at Tk 1510 crore yesterday. On February 16 this year total turnover was TK. 1469 crore.

The benchmark DSE General Index (DGEN) rose 10 points or 0.19 per cent to close at 5626 points while most of the issues gained.

The broader DSE all share price index (DSI) was up by 13 points or 0.29 per cents to close at 4629 points.

All the banks went up except Premium Bank which lost Tk 0.50, a very insignificant proportion.

The reason behind the straight upward trend in the banking sector was that all the banking share will be readjusted in case of the face value.

The recommendation from the SEC to the Finance Ministry was to reset the face value of banking share from Tk 100 to Tk 10.

Based on this information this sector started moving rapidly. Retail investors’ perception about it was the adjustment that would increase the number of shares.

Stock brokers also assured that the movement of the investors in banking sector, but they also raised question about the implementation or the approval of the proposal.

Mutual funds, insurance, pharmaceuticals were also in the positive territory.

The telecom giant GP lost Tk 9.60 to close at Tk 326.90. Financial Institutions were also in the negative territory as the up trend of banks did not affect other sectors.

Experts commented that worldwide readjusting decision over the face value is taken when market base is increasing, but in our country such situation had not yet come.

Yesterday out of 242 issues traded, 133 gained, 112 lost and five remaining unchanged.

The fund flow had been increased and the investors became encouraged to invest in the market. Meanwhile profit booking was going on from the banking sector.

Following the previous trend Beximco led the turnover trading at Tk 101 crore.

The followers were Summit Power, Exim Bank, DESCO, Social Islami Bank, Beximco Pharmaceuticals, GP, Premier Bank, Bextex and Southeast Bank.

PrimeBank, Rahima Food, Popular Life Insurance, Standard bank, Southeast Bank, Mercantile Bank, Summit Alliance Port Ltd, National Life Insurance, Shaha Jalal Bank and Bank Asia were the major gainers yesterday.

source:http://www.theindependent-bd.com/details.php?nid=171070