Dhaka stocks Market july 31 2011 Fall, DSE General Index (DGEN) Down

Indonesia stock info - Dhaka stocks Market july 31 2011 Fall, DSE General Index (DGEN) Down ; Dhaka stocks recorded a sharp fall on the first day of the week Sunday. All the three indices plummeted more than 1.0 per cent with significant fall in turnover, in value terms, as investors went for panic selling.

Market insiders said that investors sell-off shares, fearing further fall of the market. However, they advised the investors not to pay heed to any rumour during buy-sell of shares.

More than 85 per cent of total traded issues declined in prices on the day, as out of 260 issues traded, only 37 advanced, 221 declined and two remained unchanged.

Turnover value declined to Tk 13.41 billion in value terms, down by 25.70 per cent from Tk 18.05 billion in the previous trading session.

The market opened with a negative note and the downtrend continued throughout the session amid moderate ups and downs and finally closed 128 points lower.

The benchmark DSE General Index (DGEN), the yardstick of the market, went down by 128.18 points or 1.94 per cent to close at 6,459.62.

The broader All Shares Price Index (DSI) shed 108.15 points or 1.97 per cent to close at 5,380.09. The DSE-20 Index comprising blue-chip shares also lost 50.68 points or 1.17 per cent to close at 4,264.63.

Capital Market Analyst Akter H Sannamat said panic selling of shares by the investors dragged the market down. He also identified some reasons behind the market fall. "The investors' selling off shares, fearing further fall, contributed to the market fall," commented Mr Sannamat.

Selling pressure of banking and NBFIs stocks affected the market sentiment, as most of the banks' and NBFIs' half-yearly disclosure apparently fell short of investors' expectation and affected the index, said Mr Sannamat. (source /www.thefinancialexpress-bd.com )


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