Stocks corner down, MJL as well as GP browbeat trading

Dhaka bonds edged down Sunday, violation 5 days rally, as most investors strong upon dual complicated weights — Mobil Jamuna Ltd (MJL) as well as Grameenphone (GP). The DSE General Index (DGEN), a categorical index of a market, was somewhat down by 6 points or 0.10 per cent to tighten during 5841.25 after attack tip 5900 in a morning.
Rise in batch prices of Grameenphone (GP), a most weighted issue, equivalent a market’s tumble as well as an additional complicated weight Mobil Jamuna Ltd (MJL), which has done entrance upon a day, dominated a trading.
“MJL’s entrance will be reflected in a index from a second trade day (today) though not initial trade day as per a index calculation method,” pronounced a DSE official.
The MJL, which had to cut a suggest cost to Tk 115 from Tk 152.40 a share as inventory condition, rose 26.26 per cent to tighten during Tk 145.20, creation it tip gainer. GP soared third tip during 3.86 per cent to Tk 150.50 a share.
Subscription of a MJL, a corner try agreement in in between state-owned Jamuna Oil Company Limited as well as tellurian appetite hulk Mobil South Middle East Investment Limited, was carried out behind in January, 2011 though a inventory procession was delayed.
The supervision dangling a book-building routine following a marketplace pile-up as well as MJL inventory was halted as a demonstrative cost was claimed to be as well high. After months of negotiation, Securities as well as Exchange Commission (SEC) eventually authorized a inventory of a stock.
Investors strong upon MJL as well as GP as both a association have up some-more than twelve per cent of a sum trading, heading to lift all sectors down.
The MJL surfaced a turnover personality with shares worth Tk 366.55 million becoming different hands as well as GP came in second as a share worth Tk 231.69 million traded. They were followed by One Bank, United Commercial Bank, Beximco Ltd, Lanka Bangla Finance, City Bank, MI Cement as well as AB Bank.
Losers outpaced a gainers as out of 256 issues traded, 91 gained, 149 mislaid as well as sixteen remained unchanged. Turnover forsaken to Tk 5.0 b billion from prior session’s Tk 6.60 billion.
“Some investors requisitioned distinction after five-day climb as well as a little strong upon debutant MJL, creation a marketplace prosaic out,” pronounced a account manager.
After MJL alternative tip gainers were Samorita Hospital, GP, National Life Insurance, One Bank, ICB, IFIC Bank, Aramit as well as 8th ICB.
The heading losers enclosed Popular Life Insurance, Savar Refractories, Chittagong Vegetable, Monno Jutex, Safko Spinning, Rahim Textile as well as Progressive Life Insurance.
In an additional development, shares trade of Lafarge Surma Cement Ltd were halted during trade hour for surprising cost travel of shares though any reason. Its share prices rose some-more than 10 per cent in a final 3 sessions.

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