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Rumours pull down DSE benchmark through sharp price falls

Staff Correspondent |
Update: 2010-07-13 23:40:14

DHAKA: Dhaka Stock Exchange (DSE) Wednesday witnessed a sharp price fall prompted by rumours that the price-earning (PE) ratio of shares would be sector-based.  

The free fall of share prices, with most of the companies losing out in the day’s trading, pulled down the DSE indexes, market capitalization and volume of transactions.

The general index of DSE shed 76.17 points to stand at 6304.49.

Meanwhile, the share market had shown an upturn in the last two days when the margin-loan ratio was fixed at 1:1 Sunday.

The rumours spread that market-regulator SEC would resume sector-based PE ratio and stop netting to prevent unexpected rises.

Farhad Ahmed, the SEC spokesperson, told banglanews24.com.bd that the SEC did not take any decision regarding the netting or fixing sector-wise PE ratio.

"We can do nothing if rumours spread on the market," he said.   

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.

The premier bourse Wednesday traded 5 crore 93 lakh 31 thousand and 51 portfolios involving Tk 1593.42 crore which was Tk 20.87 crore lower than the previous day.

The top-ten companies based on transactions were: Titas Gas, AB Bank Ltd, Brac Bank Ltd, Lanka Bangla Finance, Pubali Bank Ltd, BSRM Steel, National Bank Ltd, Al Arafah Islami Bank and One Bank.

Besides, Gemini Sea Food, Square Textiles, Uttara Bank, Fourth ICB, BD COM, Eighth ICB, Fine Foods, Hakkni Pump, Marico Ltd and Information System Network ltd saw raise in their prices.    

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.

 

BDST: 2010 HRS, JULY 14, 2010

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