Dhaka, Bangladesh (BBN) – Dhaka stocks ended the week on Thursday with slight fall amid volatile trading throughout the session with improving turnover value, as the investors were in cautious mood.
The market opened with a positive note gaining more than 60 points within first half-an-hour on resumption of trading. After that it witnessed fluctuations several times throughout the session and finally ended the day more than 30 points lower.
The benchmark general index of the DSE—DGEN, the yardstick of the market, went down by 30.66 points or 0.71 per cent to close at 4,259.05.
The broader All Shares Price Index (DSI) slipped 26.55 points or 0.73 per cent to close at 3,571.07. The DSE-20 Index comprising blue-chip shares also lost 29.22 points or 0.83 per cent to close at 3,459.16.
Turnover of the bourse increased to BDT 2.73 billion on Thursday from Tk 2.53 billion on the day before.
Market operators said many of the investors were dejected by the dividend announcement by four banks on Thursday as they expected and required more to recover the huge losses incurred in prolonged depression of the market.
Explaining the day’s fall, a stock broker commented, “Four more banks—Southeast Bank, Bank Asia, Prime Bank and Eastern Bank—announced their corporate declaration on the day, which apparently failed to meet the investors’ expectation.”
The board of directors of Southeast Bank recommended 15 percent cash and 5.0 percent stock dividends, while Bank Asia recommended 20 percent stock dividend, Prime Bank recommended 10 percent cash and 20 percent stock dividends and Eastern Bank recommended 35 percent stock divided for the year that ended on December 31, 2011.
Of the 261 issues traded on Thursday, 112 advanced, 132 declined, and 17 remained unchanged.
Beximco topped among the turnover leaders with its shares worth BDT 172.90 million changing hands. The other turnover leaders were GrameenPhone, National Bank, Southeast Bank, United Commercial Bank, Mercantile Bank, Social Islami Bank, United Airways, RN spinning Mills and One Bank.
BBN/SSR/AD-17Feb12-2:05 pm (BST)
