 | Dhaka stocks bounce back
21 December, 2010
After the steepest ever fall on the previous day, Dhaka stocks bounced back Monday with the DGEN witnessing the second highest single-day gain in recent months.
However, increase in margin lending by the regulatory body is yet to make any impact on the turnover, because of the liquidity crisis in the banking system, as reflected in the abnormally high call money rate, analysts said.
The market made a flying start in the morning, and the DSE General Index (DGEN) - the main market barometer - increased 429 points within five minutes of trading, and finally it ended at 7959.28, up by 304.87 points or 3.98 per cent.
Monday's 304.87 points gain was the second highest single-day gain. In November 16, 2009, the DGEN gained the highest 764.88 points, following the listing of Grameenphone.
The broader All Shares Price Index (DSI) rose 3.92 per cent or 248.95 points to 6605.49. The DSE-20 Index comprising blue chips was up by 3.71 per cent or 169.89 points to 4745.46.
Although the market bounced back, the day's low turnover indicated that the investors were not fully confident about the market, dealers said.
Release link:http://www.thefinancialexpress-bd.com/more.php?news_id=120558&date=2010-12-21
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