Dhaka stocks mixed

NHFIL, Maksons Spinning make debut
Dhaka stocks closed mixed on Thursday, the first trading day of the new year, as profit-taking sales dominated the market during the closing hours of the day’s trading, market operators said.
The general index of Dhaka Stock Exchange gained 12.28 points, or 0.44 per cent, to close at 2807.61, while its blue chips index, DSE20, lost 12.17 points, or 0.52 per cent, to finish at 2316.54.
A DSE stockbroker said at the later trading the market witnessed a selling pressure from investors who offloaded their holdings to cash in on the previous four days’ rise of share prices.
Starting with an upbeat mood, trading at the DSE seesawed throughout the day, he said.
Of the total 234 issues traded, 97 advanced, 131 declined and six remained unchanged.
Turnover at the DSE decreased slightly to Tk 430.66 crore from the Tuesday’s Tk 430.95 crore. On Tuesday, the market indicator crossed Tk 400-crore mark for the first time since October 21.
The DSE and Chittagong Stock Exchange remained closed on Wednesday due to a bank holiday.
The DSE market capitalisation, however, increased to Tk 1,04,678 crore, its highest ever mark, due to the debut of the National Housing Finance and Investment Limited and the Maksons Spinning Mills Limited. The market indicator’s previous highest was at Tk 1,04,380 crore on December 30, the last trading day of 2008.
Through an initial public offering in October, the National Housing Finance and Investment raised Tk 5 crore from public, issuing five lakh shares of Tk 100 each.
The Maksons Spinning Mills raised Tk 8 crore, issuing 80 lakh shares of Tk 10 each through an initial public offering floated in October.
On its debut at the secondary market, share price of National Housing Finance and Investment gained 829 per cent to close at Tk 929 on Thursday on the DSE. Maksons Spinning Mills gained 320 per cent to close at Tk 42.
Chittagong stocks finished lower on Thursday after a four-day bull run.
The CSE selective categories index lost 31.20 points, or 0.55 per cent, to close at 5649.39, while its blue chips index, CSE30, shed 64.69 points, or 0.85 per cent, to finish at 7502.26.
Of the total 143 issues traded on the CSE floor, 65 posted gains, 70 dropped and eight remained unchanged.
Turnover at the CSE increased to Tk 68.83 crore from the Tuesday’s Tk 59.94 crore.
The DSE officials said on Thursday that introduction of the book-building method of IPO pricing and setting up a central clearing house were required to sustain the current growth of the country’s capital market.
‘There is also a requirement of introducing derivatives in the market by 2011,’ said DSE acting chief executive officer AFM Shariful Islam at a briefing at the bourse’s board room in Dhaka.
The DSE organised the press briefing to review the market performance in 2008.
Shariful Islam said the book-building method of IPO pricing was required to attract good-fundamental companies including those in the telecom sector to the market. ‘The market maintained its growth in last year.’
DSE directors and officials also attended the briefing.