|
Share prices fell Tuesday amid mounting selling pressure by investors, reportedly disturbed by the Monday's Jhalakathi bomb blast and political programme by the opposition political parties, market sources said
They said share prices dropped across the board.
However, Summit Power, the country's lone-listed power plant company gained significantly as it made its debut on the day.
Almost three-fourth of the total traded issues dipped in both the bourses -- Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) - after a lingering market rally over the past several days.
The DSE benchmark index dipped 3.29 points or 0.25 per cent to close at 1301.98, while the CSE benchmark index lost 34.84 points or 1.0 per cent to close at 3416.26.
The blue chip index at the DSE lost 6.95 points or 0.41 per cent to close at 1716.88, while the CSE blue chip index dipped 32.80 points or 1.02 per cent to close at 3172.05.
Summit Power Ltd shares were traded as high as Tk 449.50 per share at the CSE against its initial public offering (IPO) price of Tk 140, including Tk 40 as premium.
At the DSE the company share peaked at Tk 400.
Summit power's closing price was at Tk 359 per share, while the lowest price recorded was at Tk 321. The closing price at CSE was 373.75 and the lowest price was Tk 329.
"We are very much delighted to be listed on the bourses," Summit Power Ltd Chairman Muhammed Aziz Khan said at the inaugural function of its trading at the DSE.
DSE President Md. Shahiq Khan said: "The investors are more aware of the market today."
He hoped the company would hold AGMs, and issue attractive dividends regularly to the shareholders.
A total of 342,700 Summit Power shares worth Tk 119.86 million were traded at the DSE, while 55,200 shares worth Tk 19.57 million were traded at the CSE.
The company offered 2.0 million ordinary shares of Tk 140 each totalling Tk 280 million. Out of the total shares, 1.8 million were earmarked for general public and the remaining 200,000 for non-resident Bangladeshis (NRBs).
The company is currently operating three 11-MW power plants at Ashulia in Savar, Chandina in Comilla and Madhabdi in Narshingdi. The company management hoped to utilise the funds raised from the market for expansion programme of two of these plants.
The company was awarded an AA- credit rating by the Credit Rating Information Services Ltd earlier.
Commenting on Tuesday's overall fall in the stock markets a senior DSE member said it might be the outcome of the bomb blast incident of Jhalakathi in which two judges were killed.
He, however, said usually the stock markets remain upbeat during November and December as disclosures of listed companies come out during this period.
Chairman of the Securities and Exchange Commission (SEC) Mirza Azizul Islam, however, refused to term it a major setback and there is nothing to be panicked about.
"The fall of overall index by two-three points does not reflect a depressed market condition," he said.
Pointing to Monday's bomb blast incident, the SEC top brass said: "It is hard to say that the market dipped due to that incident."
|