FE Report-January 27,2012 Friday
Dhaka stocks slipped again Thursday amid volatile trading throughout the session with turnover value declined substantially and DGEN came down below 4,500-point level, as most of the investors took policy to observe market situation.
The market analysts said the market sentiment has turned into negative in the last few sessions amid lack of confidence and liquidity crisis, besides the investors were more cautious on the day centring announcement of central bank's monetary policy.
"Many investors are observing the market situation while a section of them are not willing to sell shares at such lower prices which played a major role behind the lower turnover value," one of the market analysts said.
The market opened with a positive note, gaining more than 50 points within five minutes. After that it went to negative and fluctuated several times throughout the session and finally ended more than 77 points lower.
The benchmark general index of the Dhaka Stock Exchange-DGEN, the yardstick of the market, went down by 77.90 points or 1.70 per cent to close at 4,486.98 and came down to 25 months low since December 27, 2009.
The broader DSE All Shares Price Index (DSI) slipped 62.87 points or 1.64 per cent to close at 3,761.91. The DSE-20 blue-chip index also dropped 22.10 points or 0.63 per cent to close at 3,485.57.
"The confused investors did not want to take any chance to buy shares before the half yearly monetary policy," commented LankaBangla Securities in its daily market analysis.
"For the first two hours the market movement was sideways, but in the later half of the trading session, the investors started to sell off shares as most of the market participants didn't see any positive step in the upcoming monetary policy," it said.
The market fell, as the investors sold their shares out in late hour, fearing further fall in share prices in the coming days, amid no sign of institutional participation, commented a stock broker.
On the other hand, the institutional and the big investors are still sitting on the sideline, adopting a "wait-and-see" policy, he added.
Meanwhile, five more sponsors/directors expressed their willingness to buy their respective companies' shares at prevailing market price through stock exchange within next 30 working days.
The Turnover declined to Tk 1.90 billion in value term, down by 28 per cent compared to Tk 2.62 billion in the previous session.
Thursday's turnover value was almost three months lowest since November 3, last year. On November 3, 2011, the turnover value was only Tk 1.82 billion as trading of most of the companies was suspended following their record date to change face vale at Tk 10.
The losers took a strong lead over the gainers, as out of 256 issues traded, only 44 advanced, 203 declined and seven remained unchanged.
A total of 43.06 million shares changed hands on the day against 58.79 million in the previous session. The trade deals also decreased to 71,512 against Wednesday's 97,648.
Total market capitalisation of the DSE stood at Tk 2,347.18 billion against Tk 2,375.50 billion in the previous session.
Among the major sectors, NBFIs and fuel and power lost 2.77 per cent and 2.37 per cent respectively, while banks and pharmaceuticals lost more than 1.0 per cent each.
Grameenphone (GP), the lone listed company in the telecommunications sector, lost 0.76 per cent on the day.
GP continued to top the turnover chart with shares worth Tk 71.47 million changed hands.
The other turnover leaders were RN Spinning, Beximco Limited, United Airways, SIBL, Maksons Spinning, National Bank, CVO Petrochemical Refinery, UCBL and Fu-Wang Ceramics.
Dhaka stocks slipped again Thursday amid volatile trading throughout the session with turnover value declined substantially and DGEN came down below 4,500-point level, as most of the investors took policy to observe market situation.
The market analysts said the market sentiment has turned into negative in the last few sessions amid lack of confidence and liquidity crisis, besides the investors were more cautious on the day centring announcement of central bank's monetary policy.
"Many investors are observing the market situation while a section of them are not willing to sell shares at such lower prices which played a major role behind the lower turnover value," one of the market analysts said.
The market opened with a positive note, gaining more than 50 points within five minutes. After that it went to negative and fluctuated several times throughout the session and finally ended more than 77 points lower.
The benchmark general index of the Dhaka Stock Exchange-DGEN, the yardstick of the market, went down by 77.90 points or 1.70 per cent to close at 4,486.98 and came down to 25 months low since December 27, 2009.
The broader DSE All Shares Price Index (DSI) slipped 62.87 points or 1.64 per cent to close at 3,761.91. The DSE-20 blue-chip index also dropped 22.10 points or 0.63 per cent to close at 3,485.57.
"The confused investors did not want to take any chance to buy shares before the half yearly monetary policy," commented LankaBangla Securities in its daily market analysis.
"For the first two hours the market movement was sideways, but in the later half of the trading session, the investors started to sell off shares as most of the market participants didn't see any positive step in the upcoming monetary policy," it said.
The market fell, as the investors sold their shares out in late hour, fearing further fall in share prices in the coming days, amid no sign of institutional participation, commented a stock broker.
On the other hand, the institutional and the big investors are still sitting on the sideline, adopting a "wait-and-see" policy, he added.
Meanwhile, five more sponsors/directors expressed their willingness to buy their respective companies' shares at prevailing market price through stock exchange within next 30 working days.
The Turnover declined to Tk 1.90 billion in value term, down by 28 per cent compared to Tk 2.62 billion in the previous session.
Thursday's turnover value was almost three months lowest since November 3, last year. On November 3, 2011, the turnover value was only Tk 1.82 billion as trading of most of the companies was suspended following their record date to change face vale at Tk 10.
The losers took a strong lead over the gainers, as out of 256 issues traded, only 44 advanced, 203 declined and seven remained unchanged.
A total of 43.06 million shares changed hands on the day against 58.79 million in the previous session. The trade deals also decreased to 71,512 against Wednesday's 97,648.
Total market capitalisation of the DSE stood at Tk 2,347.18 billion against Tk 2,375.50 billion in the previous session.
Among the major sectors, NBFIs and fuel and power lost 2.77 per cent and 2.37 per cent respectively, while banks and pharmaceuticals lost more than 1.0 per cent each.
Grameenphone (GP), the lone listed company in the telecommunications sector, lost 0.76 per cent on the day.
GP continued to top the turnover chart with shares worth Tk 71.47 million changed hands.
The other turnover leaders were RN Spinning, Beximco Limited, United Airways, SIBL, Maksons Spinning, National Bank, CVO Petrochemical Refinery, UCBL and Fu-Wang Ceramics.
0 comments:
Post a Comment