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in history at 3 ,215. 79 points yesterday, as the market was on a
steady gaining streak for a third day. Operators said a gradual
increase in investors' confidence helped the market set the new
record. "As subscription of the largest-ever initial public offering,
Grameenphone IPO, is going on, the market is on the rise. It proves
that the strength of the market is increasing and confidence of the
existing and new investors is on an upward climb," DSE President
Rakibur Rahman said. He said it was predicted earlier that the
market would experience a downward trend during the Grameenphone IPO
subscription period. "But instead, the market is going up that
proves it is ready to absorb big issues like Grameenphone," said
Rahman, also the managing director of Midway Securities. The
government should now offload its stakes in different entities like
hotel, motel, telecom companies and airlines, he said. The government
should also raise funds for financing big power plants and
infrastructure projects. The benchmark DSE General Index (DGEN) went
up by 28.08 points, or 0.88 percent, yesterday. Earlier, the index
hit an all time high when it closed at 3 , 207.89 points on June 1
last year. The DSE introduced the general index on November 27 , 2001
with a base of 817.62 points. The index, which excludes 'Z'
category companies, is calculated on the basis of individual stock
price movement under 'A', 'B' , 'G' and 'N' categories. Previously,
there was only one index that included all securities of the stock
exchange. Starting with a base of 350 points, the index rose as
high as 3 , 648.75 points on November 5 , 1996 , when the market
witnessed a 'bubble and bust'. The broader DSE All Share Price Index
was reintroduced on March 28 , 2005 , and the DSE- 20 was introduced
on January 1 , 2001. The advancers beat losers 133 to 105 yesterday
with four securities remaining unchanged. A total of 4 ,90 ,38 ,259
shares and mutual fund units worth Tk 924.12 crore were traded on
the DSE. Jamuna Oil topped the list of turnover leaders with 11 ,43
,500 shares worth Tk 38.91 crore being traded on the premier
bourse. Reckitt Benckiser (BD) was the largest gainer of the day with
a 14.78 percent rise, while Alpha Tobacco was the biggest loser,
declining by 17.2 percent. Chittagong stocks also posted rise
yesterday. The CSE Selective Categories Index gained 36.49 points,
or 0.52 percent, to reach 6 , 935.74. The CSE All Share Price Index
increased by 77.09 points, or 0.7 percent, to reach 10 , 071.58. A
total of 74 ,33 ,540 shares and mutual fund units worth Tk 92.92
crore changed hands on the Chittagong Stock Exchange. Of the traded
securities, 94 advanced, 75 declined and one remained unchanged.
