Dhaka stocks mostly steady at close

Sphere: Related Content FE ReportDhaka stocks were mostly steady at close on Wednesday in a market that saw prices fluctuating amid low turnover.The Dhaka Stock Exchange (DSE) will remain closed for consecutive three days from today (Thursday) through Saturday for public holiday on account of holy Ashura and weekends.The benchmark DSE General Index (DGEN) slightly rose 4.01 points to close at 2760.66. Out of 244 issues traded on the day, 93 advanced, 135 declined and 16 remained unchanged. The total turnover came down to Tk 3.40 billion from Tuesday's Tk 3.79 billion.The DGEN climbed more than 50 points in the first one hour of the trade, but it later failed to hold on the rising trend because of selling pressure.Fall of share prices of the Beximco group also affected the market on the day."The volatility indicates that nervousness is yet to settle down," said Yawer Sayeed, a capital market analyst. A stockbroker said the market is mainly dominated by the speculators leading to fluctuation of share prices."Most of the institutional investors, the major market players, remained on the sideline watching the price movement. But their absence has depressed the market," he added.The market capitalisation remained steady at Tk 1.05 trillion.All Shares Price Index (DSI) ended 1.20 per cent up to finish at 2279.49 while DSE 20 comprising blue chip fell 2.67 per cent to close at 2271.20.Stock prices of the Summit Power continued to shine posting 6.73 per cent rise to close at Tk 1079.50 per share, making it top turnover leader with shares worth Tk 417.70 million traded. Beximco Pharma was the second turnover leader with shares worth Tk 306.84 million traded.Other next turnover leaders were Beximco Limited, Titas Gas, Shinepukur Ceramics Limited, Maksons Spinning Mills Limited, Golden Son, ACI Formulations Limited, Summit Alliance Port Limited and Quasem Dry Cell.Maksons Spinning had the biggest gainer with 17.35 per cent rise in its share prices to close at Tk 54.10 per share on the news that the company's board of directors recommended 15 per cent stock dividend for the year ended September 30, 2008.The day's other next top gainers were Maqpaper, Delta Spinning, BD Wielding, Quasem Dry Cell, AMCL (Pran), Savar Refractories and Summit Power.The main losers are: Shyampur Sugar Mills Limited, Samata Leather, Purabi General Insurance, Wata Chemical, Zeal Bangla, Aramit Cement, Modern Dyeing, BD Luggage, BD Online Limited and Confidence Cement.
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