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Bangladeshi-News-Views

Dhaka Stock Exchange Witnessed a Sharp Price Fall

Wednesday, 14 July 2010 16:00

July 14, Dhaka, Bangladesh (Tazakhobor.com): Dhaka Stock Exchange (DSE) Wednesday witnessed a sharp price fall prompted by rumors that the price-earning (PE) ratio of shares would be sector-based.

But according to market operators, Dhaka stocks plummeted because of a selling pressure as investors took profits after a two-day surge.
At the end of Wednesday trade Dhaka Stock Exchange general index shed 79.97 points, or 1.23 per cent to stand at 6304.49 points. The DSE all share price index lost 64.59 points, or 1.21 per cent, to finish at 5,241.97 points.
The rumors spread that market-regulator SEC would resume sector-based PE ratio and stop netting to prevent unexpected rises. But SEC spokesperson Farhad Ahmed denied the rumor and told, that the SEC did not take any decision regarding the netting or fixing sector-wise PE ratio.
A DSE stockbroker said institutional buying pulled the market on Monday and Tuesday after a sharp fall on Sunday. The Securities and Exchange Commission from Sunday lowered the margin loan ratio to 1:1 from 1:1.5 for brokerage houses and merchant banks.
Price correction pushed down the market today (Wednesday), said the stockbroker.
Shares of 245 companies were traded Wednesday and 49 of them saw a rise in price while 188 recorded fall while eight companies remained unchanged. Turnover at the DSE also dropped by Tk 20.27 crore to Tk 1,593.42 crore on Wednesday.
Banks, financial institutions, fuel and power, and insurance led to the day’s fall. The companies which suffered a decline were: National Life Insurance, United Airways, Shamata Leather, Meghna Petroleum, Kohinur Chemical, Aims First Mutual Fund, Midas Finance, Shyampur Super, Anwar Galvanizing and Mercantile Insurance. United Airways, the first aviation company listed with the bourses under travel and leisure industry, lost Tk 51.75 per share to close at Tk 292.25 on Wednesday. Another heavyweight company Grameenphone, lost Tk 1.70 per share to close at Tk 239 on the day.

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Source: Bdbangla-Report
Ker Words: how to invest stocks, stock news, stock market news, stock analysis, stock exchange news, Dhaka Stock market, DSE News, Latest Stock Market News, Bangladesh Stock Market News, Dhaka Share Market News

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Last Updated on Wednesday, 14 July 2010 23:07