Portfolio Event Studies- ZR 09, 10, 26, 70 (Consolidated)

7/30/2019 Portfolio Event Studies- ZR 09, 10, 26, 70 (Consolidated)

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Event Studies

Effect of Cricket World Cup 2011 on DSE Listed Companies

Prepared For

Professor Dr. Md. Jahangir Alam

Course Instructor,

Portfolio Management

Prepared By

Isham Ul Haque, ZR 09

Mohammad Masudur Rahman, ZR 10

Walid Uz Zaman Khan ZR 26


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Walid Uz Zaman Khan ZR 26

Letter of transmittal

January 5, 2013

Professor Dr. Md. Jahangir Alam

Course Instructor,

Portfolio Management

Institute of Business Administration (IBA)

University of Dhaka

Dear Sir:

Following you will find our final report on Event Studies: Effect of Cricket World Cup 2011 on DSE Listed Companies

due January 5, 2013. This paper was created with an aim to quantify and analyze the potential impact the Cricket WorldCup 2011 on the stock prices of listed companies at the DSE.

Creating this report was interesting to say the least especially because it gave us the opportunity to see how the stock

returns might have been affected by the news of the world cup organization. We sincerely hope that this report will meet

your standards of judgment.

Sincerely,

Isham Ul Haque ZR 09


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Table of Contents

1. Introduction ............................................................................................................................................................................. 4

1.1 Background .......................................................................................................................... 4

1.2 Objective .............................................................................................................................. 5

1.3 Scope ................................................................................................................................... 51.4 Limitations ............................................................................................................................ 5

1.5 Methodology ........................................................................................................................ 5

2. Data Analysis ........................................................................................................................................................................... 7

2.1 Abnormal Returns for each sector ........................................................................................ 7

2.2 Event Significance for each Sector ...................................................................................... 15

3. Conclusion............................................................................................................................................................................... 17

4. Appendix .................................................................................................................................................................................. 18


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1. IntroductionThe capital market in Bangladesh has a relatively short history. But that has not prevented an outpour ofinvestment from the public in the listed companies, which prompted a steady growth over time. Several

studies have been conducted so far to test the capital market of Bangladesh. Bangladesh capital market is

one of the smallest in Asia but the third largest in the South Asia region. It has two full-fledged automated

stock exchanges namely - Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE). It also

consists of a dedicated regulator, the Securities and Exchange Commission (SEC), since, it implements rules

and regulations, monitors their implications to operate and develop the capita market.

The capital market can be assumed to be Strong, Semi Strong or weak and hypothesis can be developedaccordingly. For our study we are assuming Bangladesh capital market to be a Semi Strong Efficient market

and test the hypothesis accordingly. Semi-strong form efficiency tests are concerned with whether security

prices reflect all publicly available information. For example, how much time is required for a given type of

information to be reflected in security prices? What types of publicly available information might an investor

use to generate higher than normal returns? The vast majority of studies of semi-strong form market

efficiency suggest that the typical investor to secure significantly higher than normal returns cannot use

publicly available information and announcements. Three hypotheses can be developed to test the efficiency

of the capital market.

1.1 Background

Our study is to find out whether the Cricket World Cup 2011 any effect on the Stock Market prices or not.

The Cricket World Cup 2011 was carried out from February 19th to April 2nd of 2011. Being a Nationally

significant event, the event had considerable effect on the National economy. This is a significant event in the

capital market of Bangladesh since the economic impact is a strong component of the stock market to the

investors


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1.2 Objective

The broad objective of this study is to determine the effects of a particular event, Stock Exchange

Commission Annual Report Publishing on the stock prices.

The specific objectives are:

To develop a hypothesis to run the study on To test the hypothesis for semi-strong efficient market To determine the relationship of the event with stock prices of each industry and the index To develop stratified sampling of the industries in the stock market.

1.3 Scope

The Scope of the study is limited to the Dhaka Stock Exchange not excluding the Chittagong Stock

Exchange. The study will be conducted on the following companies from every industry which is based on

stratified random sampling. The 17 companies listed under Dhaka Stock Exchange are:

Unique Hotel & Resorts Shomorita Hospital

Jamuna Oil Lafarge Shurma Cement Limited

Square Textiles GPH IspatGlaxo Pharma United Leasing

Grameen Phone Daffodil Computers

Berger Paints Dhaka Insurance Limited

Islami Bank Limited Fu Wang Ceramics

Bata Jute Spinners

BATBC


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We will be conducting a t test with a confidence interval of 95% (t-value is 1.64) to test the null hypothesis

mentioned above. Data for testing the hypothesis will be the market index for the time period June 1st to

September 28th 2011 (1 month prior to event to 3 months after). The formulas used will be:

1. Abnormal Returns= Stock Returns Market Return2. t-value = Abnormal return/standard error


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2. Data Analysis

In this section the data collected were analyzed using several statistical tests. The data collected were the

daily average stock prices for every firm, which is representative of its sector and the market index for the

time period June 1st to September 28th 2011 (1 month prior to event to 3 months after). Firstly, the data

was used to calculate the returns for every stock and the return from the market.

Although stock return generating processes may be modeled as a random walk if capital markets are

efficient, one might expect a general drift in returns; that is, one might expect that investors will earn a

"normal" return on their securities. Thus, excess or abnormal return randomness is observed when marketsare efficient, except for a very short period after relevant new information is available. The abnormal return in

a given period for security i, i,t, for a security is the difference between its total, actual or ex-post return Ri,t

and its expected, normal or ex-ante return E[Ri,t]: i,t = Ri,t-E[Ri,t]. To measure the impact of an event on

security returns, one must have a consistent means of measuring normal returns.

Abnormal Returns= Stock Returns Market Return

2.1 Abnormal Returns for each sectorThe abnormal returns from the stocks were converted to cumulative abnormal returns (CAR) for each stock.

Graphical representation and description of the CAR of each stock in its sector is shown below:

0 012

0.014%

Glaxo&Pharma&


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!0.002%

0%

0.002%

0.004%

0.006%

0.008%

0.01%

0.012%

0.014%

!21% !18% !15%!12% !9% !6% !3% 0% 3% 6% 9% 12% 15% 18% 21% 24% 27% 30% 33% 36% 39% 42% 45% 48% 51% 54%

Islami&Bank&Limited&

0.004%

0.006%

0.008%

0.01%

0.012%

Fu&Wang&Ceramics&


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These graphs show similar results. A large spike in abnormal returns during the period: t+18 till t+24 followed

by a period of normal returns (abnormal returns almost zero) for almost 18 days till time t+48 after which

these stocks continuously earn lower return than the market.

!0.002%

0%

0.002%

0.004%

0.006%

0.008%

0.01%

0.012%

!21%!18%!15%!12% !9% !6% !3% 0% 3% 6% 9% 12% 15% 18% 21% 24% 27% 30% 33% 36% 39% 42% 45% 48% 51% 54%

Dhaka&Insurance&Limited&

0 007

0.008%

0.009%

Shomorita&Hospital&


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!0.001%

0%

0.001%

0.002%

0.003%

0.004%

0.005%

0.006%

0.007%

0.008%

!21%!18%!15%!12% !9% !6% !3% 0% 3% 6% 9% 12% 15% 18% 21% 24% 27% 30% 33% 36% 39% 42% 45% 48% 51% 54%

GPH&Ispat&

0

0.002%

0.004%

0.006%

0.008%

Jute&Spinners&


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!0.002%

0%

0.002%

0.004%

0.006%

0.008%

!21%!18%!15%!12% !9% !6% !3% 0% 3% 6% 9% 12% 15% 18% 21% 24% 27% 30% 33% 36% 39% 42% 45% 48% 51% 54%

Square&Texles&

0.004%

0.006%

0.008%

0.01%

0.012%

Daffodil&Computers&


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!0.002%

0%

0.002%

0.004%

0.006%

0.008%

0.01%

0.012%

0.014%

!21%!18% !15%!12% !9% !6% !3% 0% 3% 6% 9% 12% 15% 18% 21% 24% 27% 30% 33% 36% 39% 42% 45% 48% 51% 54%

Grameen&Phone&

0 002

0.004%

0.006%

0.008%

0.01%

0.012%

0.014%

Unique&Hotel&&Resort&


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!0.0005%

0%

0.0005%

0.001%

0.0015%

0.002%

0.0025%

0.003%

0.0035%

0.004%

0.0045%

!21%!18%!15%!12% !9% !6% !3% 0% 3% 6% 9% 12% 15% 18% 21% 24% 27% 30% 33% 36% 39% 42% 45% 48% 51% 54%

Lafarge&Shurma&Cement&Limited&

0.006%

0.008%

0.01%

0.012%

0.014%

Jamuna&Oil&


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!0.002%

0%

0.002%

0.004%

0.006%

0.008%

0.01%

0.012%

0.014%

0.016%

!21% !18% !15% !12% !9% !6% !3% 0% 3% 6% 9% 12% 15% 18% 21% 24% 27% 30% 33% 36% 39% 42% 45% 48% 51% 54%

United&Leasing&

0 006

0.008%

0.01%

0.012%

0.014%

BATBC&


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The t-value for each day was calculated from the data set using the formula:

t-value = Abnormal return/standard error

This obtained t-value was compared with the t-values for the confidence interval (-1.64 to +1.64) to get the

statistical significance.

2.2 Event Significance for each Sector

This section provides a sector-wise analysis of any potential impact of the Cricket World Cup 2011 on stock

returns. Comparing the t-values obtained using abnormal returns with the significance level t-values from 30

trading days before and 60 trading days after the event does this. The date of the Cricket World Cup wasbetween February 19th, 2011 to April 2nd, 2011 and the findings are focused around that time. If the t-values

around that time lie within +1.64 and -1.64 then the null hypothesis cannot be rejected and we can say that

the abnormal returns is equals to zero and so the event was not very significant statistically to impact the

stock returns. It should be noted that in each sector, one company was taken as the sample representative

of that sector, chosen according the process described earlier in the methodology section. The results of the

analysis are summarized in the table below:

Travel & Leisure Unique Hotel &

Resorts

For many days before and after the event

the t-values were outside the confidence

interval range so we can say that the

abnormal returns were greater than zero

and the event did not had significant

impact on returns in the travel and leisure

sector.

Statistically

significant

Fuel & Power J Oil Th t l h ithi th N t t ti ti ll


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Banking Islami Bank Limited For the banking sector too, the event was

not prominent since the t-values here

were within the confidence interval range

so we can say that the abnormal returns

were zero.

Not statistically

significant

Tannery Bata The t-values here were within the

confidence interval range so we can say

that the abnormal returns were zero and

the event did not have much impact on

stock returns in the tannery industry.

Not statistically

significant

Real Estate Shomorita Hospital For many days before and after the event

the t-values were within the confidence

interval range so we can say that theabnormal returns were zero and the event

did not have much impact on returns in

the real estate sector.

Not statistically

significant

Cement Lafarge Shurma

Cement Limited

Once again we find that the t-values

calculated are between the acceptable

ranges and so the event did not impact

the cement industry significantly.

Not statistically

significant

Engineering GPH Ispat In the engineering industry, the returns

were also not affected by the event sincethe t-values were the within the range and

we can say that abnormal returns were

zero.

Not statistically

significant

Financial United Leasing The t-values for this representative

company of the financial sector were

within the confidence interval range so we

can say that the abnormal returns were

zero and the event did not impact stock

returns.

Not statistically

significant


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3. ConclusionFrom the above analysis we can see that the Cricket World Cup 2011 did not have any statistically significant

effect on all but one of the sectors and that was the Travel & Leisuresector. The statistical analysis shows that

the t-value of the sample company was significantly different from the expected range thereby rejecting the

null hypothesis. From that we can deduce that abnormal return is not equal to zero, which implies that the

event was statistically significant for the Travel & Leisure Sector.


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4.Appendix


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COMPANY(SELECTION( !!!!!!!!!!!!!!!!!!!!!!!!

!!!!

!! !!#!!! !! !! !Name!of!the!Industry!!! ! Company!

1! !!Travel!&!Leisure!!

Unique!Hotel!and!Resorts!

Ltd!2! !!Fuel!&!Power! Jamuna!Oil!Company!Ltd!

3! !!Textile!!! Square!Textile!

4! !Pharmaceuticals!&!Chemicals! Glaxosmith!Kline!

5! !!Telecommunication!!! Grameenphone!

6! !!Miscellaneous!!! Berger!PaintsBangladesh!Ltd!

7! !!Bank!!! Islami!Bank!

8! !!Tannery!Industries! Bata!Shoe!

9! !!Services!&!Real!Estate! Samorita!Hospital!

10! !!Cement!!! Lafarge!Surma!Cement!

11! !!Engineering!!! GPH!Ispat!

12! !!Financial!Institutions! United!Leasing!

13! !!IT!Sector! Daffodil!Computers!

14! !!Insurance!!! Dhaka!Insurance!Ltd!

15! !!Ceramics!Sector! Fu!Wang!Ceramics!

16! !!Jute!!! Jute!Spinners!

17! !!Food!&!Allied! BATBC!


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INDEX(

! ! !

DGEN!Index!

Index!Unique!Hotel!

and!Resorts!!

Jamuna!Oil!

Company!

Square!

Textiles!

Glaxo!Smith!

Kline!

Grameen!

Phone!Berger!Paints! I sl ami!Bank ! Bata! Shoe!

Samorita!

Hospital!

!

09/02/11& 5,668.68! ! ! ! ! ! ! ! ! !

10/02/11& 5,762.71 0.016586561 0.014605203! [0.013331672! [0.001685178! [0.009409969! [0.0016948! 0.002629017! [0.000845672! [0.000269326! 0.028379504!

Before!Event!

11/02/11& 5,762.89 3.07911E-05 0.045209177! 0.008460664! [0.004220057! 0.000256739! 0.002852098! 0! 0.009458757! [0.001915722! 0.08608199!

12/02/11& 5,844.73 0.014201637 0.035076393! 0.03756574! [0.009785791! 0.002053388! [0.007109967! 0.004411826! 0.00853167! [0.000589815! [0.014812017!

13/02/11& 5,941.78 0.016604214 [0.002286902! 0.009172098! 0.006380826! 0.001408811! 0.011389211! 0.012251889! 0.028353899! [0.000633509! [0.047576284!

14/02/11& 5,949.13 0.001237029 [0.021046051! [0.011121741! 0.001391788! 0.006906254! [0.008226568! [0.008132744! [0.019239497! [0.001401275! 0.012925235!

15/02/11& 5,989.81 0.006839248 0.001064283! [0.000241867! 0.001853139! 0.014606884! 0.001427794! 0.005956967! 0.007209018! 0.002422262! [0.013220513!

16/02/11& 5,676.29 -0.052343372 [ 0.020199872 ! [0 .030603605 ! [0 .027591522 ! [ 0.030420631 ! [ 0.030280399 ! [ 0.030251227 ! [ 0.035887606 ! [ 0.014795089 ! [ 0.048693624 !

17/02/11& 5,904.73 0.04024535 0.020399306! 0.002370851! 0.016247919! 0.005422853! 0.005601064! 0.02102695! 0.011764969! 0.012503679! [0.006930285!

18/02/11& 5,817.30 -0.014807238 0.00701829! [0.009834433! [0.007643113! [0.002568383! [0.002367193! [0.004364641! 0.010855406! 0.000798559! 0.00473471!

19/02/11& 5,812.82 -0.000769087 [ 0.032101373 ! [0 .006663314 ! [0 .008880855 ! [ 0.008754989 ! [ 0.014167074 ! [ 0.007380279 ! [ 0.015791543 ! [ 0.000954836 ! [ 0.020178446 !

During!Event!

20/02/11& 5,776.18 -0.006304311 [0.015273838! [0.011390963! 0.005233526! [0.012469152! [0.004459861! [0.000377348! 0.002374559! [0.010285989! [0.012433899!

21/02/11& 5,686.72 -0.015487388 [0.011079105! [0.010754065! [0.025952512! [0.019729054! [0.005617578! [0.01329605! [0.015586256! [0.015393498! [0.015625541!

22/02/11& 5,695.78 0.00159234 [0.009858839! [0.013200466! 0.001457726! [0.006708708! [0.003718535! [0.001020206! [0.003133621! 0.021073027! [0.01200483!

23/02/11& 5,745.09 0.008658249 0.026476578! 0.019016393! 0.001455604! 0.035796299! 0.01744186! [0.001460951! 0.016446824! [0.001491184! 0.029380006!

24/02/11& 5,808.20 0.010984946 [0.003527337! [0.001544402! [0.008397933! 0.001434533! 0.002257496! 0.00619327! 0.003455139! 0.008842741! 0.002328503!

25/02/11& 5,847.26 0.006724756 [0.00619469! 0.003480278! [0.003420195! [0.001041802! 0.012810586! 0.001863486! 0.008950954! [0.004417624! [5.75023E[05!

26/02/11& 5,841.26 -0.001026467 [0.012911843! [0.003082852! [0.001389116! [0.001955417! 0.040656057! [0.001705018! 0.000818462! [0.000100465! [0.008234807!

27/02/11& 5,934.18 0.015907624 [0.00202977! [0.001159644! 0.02340234! 0.00862069! 0.005542941! [0.003190018! 0.016049184! 0.004065912! [0.004174784!

28/02/11& 5,970.48 0.006117827 0.026440678! 0.015350877! 0.020228672! 0.011266511! 0.024241217! 0.017218918! 0.004182477! 0.007601887! 0.028519191!

01/03/11& 6,038.66 0.011420035 0.024878908! 0.024520391! 0.0669279! 0.024458958! 0.011541953! 0.001740075! 0.019665937! 0.000635608! 0.018579953!

02/03/11& 6,117.23 0.013011002 [0.007303974! 0.005084325! 0.013442045! [0.002! 0.031538462! 0.009949834! [0.003067054! 0.003907168! [0.013361197!

03/03/11& 6,157.52 0.006585239 0.002596841! 0.011227637! 0.042110604! 0.023421844! 0.03734775! 0.005503805! 0.02485832! 0.009771096! 0.017575484!


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04/03/11& 6,124.45 -0.005370487 0.021368444! 0.000610054! [0.015301155! 0.003304369! [0.018211226! [0.002422103! 0.005193164! [0.01248976! [0.00659876!

05/03/11& 6,165.26 0.006664004 [0.010143702! [0.005365199! [0.016457127! 0.023664308! [0.012691439! 0.013223594! 0.015560506! [0.003242075! [0.0086376!

06/03/11& 6,243.33 0.012663034 [0.011101623! 0.019369866! [0.011418312! 0.041825548! 0.01551202! 0.003750135! 0.06480765! 0.001677702! 0.008353101!

07/03/11&6,311.80 0.010967061

0.015112263! 0.018400481! 0.028185384! 0.036715086! 0.022638754! 0.000485561! 0.043061173! 0.010671645! 0.017615841!

08/03/11& 6,437.50 0.019915208 [0.001063377! 0.014170997! [0.00148368! 0.04435128! 0.03469412! [0.010272726! 0.062518933! 0.005865727! 0.010737137!

09/03/11& 6,458.10 0.003198753 0.023632106! 0.020610154! 0.017335315! 0.018170294! 0.008512107! 0.003963768! 0.00326162! 0.035500319! 0.032172744!

10/03/11& 6,514.10 0.008671333 0.020174709! 0.001711352! 0.005564056! 0.051462959! [0.007927003! 0.010067023! [0.0039842! 0.005178806! [0.010060912!

11/03/11& 6,562.92 0.007494853 0.029969419! [0.004100228! 0.01002905! 0.006611407! 0.01873994! 0.027106168! [0.009535277! 0.025622978! [0.013483694!

12/03/11& 6,578.28 0.002340167 0.028305622! 0.019327539! 0.016503458! [0.012743849! 0.028495655! 0.010566788! [0.00195883! 0.006951032! 0.014496026!

13/03/11& 6,486.58 -0.013939176 [0.032916266! [0.023336699! [0.03300997! [0.00834078! [0.029242333! [0.037438207! [0.031246933! [0.014012067! [0.023002152!

14/03/11& 6,587.58 0.015570339 [0.00736465! 0.068581275! 0.013306395! 0.057074196! 0.09941223! 0.003347629! 0.002037898! 0.056104424! 0.004990832!

15/03/11& 6,619.10 0.00478405 0.070583517! 0.025370888! [0.007287728! 0.006914843! 0.011926181! 0.004716602! 0.020480251! 0.018011467! [0.003692148!

16/03/11& 6,660.98 0.006327602 0.056752201! 0.003774376! 0.007895284! 0.031608655! 0.075438151! 0.006654931! [0.011427339! [0.008392076! [0.012103547!

17/03/11& 6,710.53 0.007439742 [0.003190358! [0.005222478! 0.039648183! [0.010669342! 0.014170997! 0.043481141! 0.01685284! 0.006512293! 0.055983328!

18/03/11& 6,696.39 -0.002107425 [0.003733997! 0.027719446! 0.030931923! 0.007650475! [0.034140661! 0.022167769! [0.009570793! [0.009490518! 0.029914619!

19/03/11& 6,642.04 -0.008117035 0.015884348! 0.041888026! 0.032440056! [0.010793999! [0.001350244! [0.01355128! [0.014252018! [0.017113657! [0.024235028!

20/03/11& 6,627.75 -0.002150625 [0.009662684! 0.042753481! 0.013909588! 0.021546144! [0.004973683! [0.013825581! [0.018335332! 0.001132153! 0.002832012!

21/03/11& 6,587.81 -0.006026222 [0.036544261! [0.0262366! [0.010350318! 0.046800036! [0.057119286! [0.004583759! [0.013010343! 0.000229112! 0.019056944!

22/03/11& 6,459.62 -0.019458562 [ 0.032038299 ! [0 .034089812 ! [0 .032118324 ! [ 0.039000346 ! [ 0.035668331 ! [ 0.022062313 ! [ 0.015345112 ! [ 0.008921571 ! 0 .019641159 !

23/03/11& 6,367.60 -0.014246343 [ 0.007608902 ! [0 .041991602 ! 0 .001086957 ! [ 0.034014218 ! [ 0.041364219 ! [ 0.042116447 ! [ 0.021826669 ! [ 0.020466095 ! [ 0.034895255 !

24/03/11& 6,192.95 -0.027427983 [0.021659958! 0.029743269! 0.021523919! [0.028877503! 0.018651523! [0.029795974! [0.030890512! [0.008687813! [0.034574195!

25/03/11& 6,389.34 0.031711859 0.021551724! [0.00243235! 0.016631237! 0.016306954! [0.006777438! 0.011149688! 0.00674926! 0.014024766! 0.015564119!

26/03/11& 6,259.90 -0.020257555 [0.007288071! [0.046225744! 0.016666667! [0.014912695! [0.04457407! [0.014697672! [0.010642946! [0.006105892! [0.01308231!

27/03/11& 6,120.16 -0.022323331 [0.038060278! 0.022475501! [0.022563668! [0.044840471! 0.029144108! [0.010497089! [0.045455444! [0.01335259! [0.03190721!

28/03/11& 6,223.94 0.01695718 0.019481824! [0.016147515! 0.015348434! 0.015748821! [0.011305126! 0.027587688! 0.053096062! 0.003799143! 0.027560783!

29/03/11& 6,177.81 -0.007411483 [0.018321513! [0.013235917! [0.027428989! [0.015603397! 0.027793502! [0.019463059! 0.012052301! 0.003891764! [0.014884257!

30/03/11& 6,162.68 -0.002449772 [0.021272326! 0.00686769! [0.017360241! [0.014245586! 0.031888528! 0.004035237! [0.014260723! [0.009087199! [0.001278966!


22/53

31/03/11& 6,212.86 0.008142801 0.001640353! [0.007460301! 0.000574016! 0.024628537! [0.010407771! [0.002533114! 0.025167774! 0.001665693! 0.013739364!

01/04/11& 6,172.30 -0.006528811 [0.040122825! [0.005154086! [0.023584906! [0.007647994! [0.017474786! [0.003745478! 0.003321194! 0.008977333! [0.001477358!

02/04/11& 6,112.27 -0.009724904 [ 0.018980593 ! [0 .027091203 ! [0 .027484006 ! [ 0.013412071 ! [ 0.020146017 ! [ 0.018256647 ! [ 0.017982439 ! [ 0.007243248 ! [ 0.021356892 !

03/04/11&6,043.92 -0.011182428

[0.015! 0.01519858! [0.015976371! [0.021406107! 0.016078431! [0.005323547! [0.0264134! [0.015759198! [0.013299737!

After!Event!

04/04/11& 6,057.40 0.002229037 [0.306996248! [0.01737515! 0.021693158! 0.017001866! [0.01455588! 0.014247798! 0.020940694! [0.002887988! 0.010325761!

05/04/11& 6,045.63 -0.001942955 0 .014012739 ! [0 .013345196 ! [0 .017359952 ! [ 0.022324159 ! [ 0.001230907 ! [ 0.006815339 ! [ 0.006573004 ! [ 0.009372571 ! [ 0.024023034 !

06/04/11& 6,131.49 0.014202153 [0.027638191! [0.013525699! 0.01834613! [0.000104264! [0.009019103! [0.009771987! 0.002135203! [0.013727158! [0.028803063!

07/04/11& 6,212.00 0.013130465 0.03003876! 0.030964351! [0.016214052! [0.015224192! 0.01401922! [0.006871345! 0.038154486! 0.023329063! 0.042480174!

08/04/11& 6,193.08 -0.00304517 [0.002508623! 0.003103181! 0.025230602! 0.011329945! [0.002285651! 0.006241719! 0.0230319! 0.025925093! 0.028426531!

09/04/11& 6,141.80 -0.008281069 [0.015089594! [0.020108275! 0.00026462! [0.001361114! [0.013968822! [0.00576411! [0.005393055! [0.020127734! [0.01210096!

10/04/11& 6,065.60 -0.012406359 [0.02872646! [0.018942384! [0.010515873! [0.012686098! [0.018530062! [0.005444379! 0.008329546! 0.011222348! [0.020108809!

11/04/11& 6,095.54 0.004936385 [0.01183043! [0.008045052! [0.022792594! [0.02049485! [0.007274827! [0.001331558! [0.010452488! [0.01528635! [0.009730104!

12/04/11& 6,077.32 -0.00298992 0.009976721! 0.018885413! [0.017031464! 0.01528621! 0.007386298! 0.017451852! [0.008647475! [0.002937581! 0.003485814!

13/04/11& 6,017.96 -0.009766937 [0.006256174! [0.017170798! 0.007793473! 0.024239188! [0.011777611! [0.008619937! 0.006809657! 0.000844463! 0.00554219!

14/04/11& 5,920.84 -0.016137252 [0.023525514! [0.020479! [0.016640199! 0.002189324! [0.026757025! [0.009018007! [0.012689562! 0.00335625! [0.017585833!

15/04/11& 6,055.17 0.022687145 0.020699016! 0.009331443! [0.031526471! [0.020597108! 0.010264722! [0.016243775! [0.018177329! [0.017534898! [0.02116667!

16/04/11& !5,960.74!! -0.015595314 0.016954787! 0.007723815! 0.033422751! 0.010302708! 0.011764706! [0.010817163! 0.014302941! 0.006495606! 0.011544632!

4/17/11& 5,966.51 0.000968516 [0.016672115! [0.007083962! 0.008629157! 0.025862069! [0.013742072! [0.000548296! [0.008557387! [0.004796956! [0.001666533!

4/18/11& 5,800.42 -0.027836903 [0.023603723! [0.024327485! [0.004312443! 0.015576962! [0.025068477! [0.013349182! [0.009330213! 0.000468399! [0.004605006!

4/19/11& 5,841.20 0.00702993 [0.007490637! 0.002157756! [0.020607754! 0.015136226! [0.009039272! [0.013066444! [0.015127193! [0.014263661! [0.023478522!

4/20/11& 5,809.56 -0.005416606 0.015437393! 0.01722488! [0.011412268! [0.000795229! 0.008936826! 0.00258216! [0.021800425! 0.0044543! [0.022621755!

4/21/11& !5,649.44!! -0.027561217 [0.042567568! [0.041862653! 0.018470418! 0.010246717! [0.029810629! [0.000998985! 0.017428579! [0.002044748! 0.016007852!

4/22/11& 5,652.32 0.000509767 [ 0.008115737 ! 0 .000736377 ! [0 .042504959 ! [ 0.040866568 ! [ 0.010703942 ! [ 0.002484336 ! [ 0.030152546 ! [ 0.007734739 ! [ 0.035876579 !

4/23/11& !5,784.97!! 0.023467345 0.017431519! 0.044518028! [0.004809115! [0.001950719! 0.020557536! [0.032627424! [0.017614936! 0.007924089! [0.020498546!

4/24/11& 5,991.37 0.035679355 0.037412587! 0.066572737! 0.033752137! 0.029317971! 0.043217961! 0.018556! 0.017882268! 0.00521772! 0.01270555!

4/25/11& 5,879.15 -0.018730663 [0.007077856! 0.010017613! 0.036677454! 0.038476914! [0.005081301! 0.025610047! 0.05885317! 0.021116019! 0.052890851!

5,851.02 -0.004785008 [0.019348269! [0.002724796! [0.012903226! [9.62371E[05! [0.015441928! [0.004541509! 0.005286174! [0.011086578! 0.001314776! !!


23/53

(!! ! !

DGEN!Index!

Index!Lafarge!Surma!

Cement! GPH! Ispa t! Un it ed! Leasing!Daffodil!

Computers!

Dhaka!Insurance!

Ltd! Fu!Wang!Ceramics! Jute!Spinners! BATBC!

!

09/02/11& 5,668.68

! ! ! ! ! ! ! ! !

10/02/11& 5,762.71 0.016586561 [0.003291271! 0.001315724! [0.000883392! [0.008662696! [0.013103523! [0.001177741! 0.00212011! 0.002637677!

Before!Event!

11/02/11& 5,762.89 3.07911E-05 0.002612826! [0.016537975! 0.007073386! 0.002184599! 0.013112225! 0.002849563! 0.004838099! [0.001778677!

12/02/11& 5,844.73 0.014201637 0.000559835! [0.006220728! [0.007901668! [0.005722071! [0.007286965! [0.001175779! [0.009984209! 0.008717177!

13/02/11& 5,941.78 0.016604214 [0.00356! 0.015952756! 0.023893805! 0.03672239! 0.000109559! 0.026878556! [0.008747335! 0.003363656!

14/02/11& 5,949.13 0.001237029 [0.000426887! 0.011967016! 0.018150389! 0.024848004! 0.008216027! 0.023977837! 0.012612918! [0.003057201!

15/02/11& 5,989.81 0.006839248 0.002375164! [0.001602981! [0.002546689! [0.028372453! [0.002281741! [0.018005411! [0.013771647! [0.009231452!

16/02/11&5,676.29 -0.052343372

[0.018290984! [0.02390023! [0.031489362! [0.04433236! [0.035284509! [0.041706251! [0.036995997! [0.029756124!

17/02/11& 5,904.73 0.04024535 0.014932797! 0.003794738! [0.006151142! 0.0175! 0.001693289! 0.006245663! [0.001761184! 0.015972367!

18/02/11& 5,817.30 -0.014807238 [0.002457116! [0.004024752! [0.00530504! 0.022932023! [0.001577731! [0.008571429! [0.013508586! [0.020225425!

19/02/11& 5,812.82 -0.000769087 [0.008645818! [0.01321268! 0! [0.002668802! 0.002539647! [0.008645533! [0.011976655! 0.001027727!

During!Event!

20/02/11& 5,776.18 -0.006304311 [0.005827452! [0.012892327! 0! [0.01177415! [0.013510471! [0.010825982! [0.00246781! 0.008853661!

21/02/11& 5,686.72 -0.015487388 [0.005667561! [0.016905582! [0.014222222! [0.032223125! [0.014665601! [0.017632752! [0.023106003! [0.018416388!

22/02/11& 5,695.78 0.00159234 [0.001722746! 0.000406924! [0.001803427! [0.008673755! [0.015636764! [0.013410357! [0.001968979! [0.00769205!

23/02/11& 5,745.09 0.008658249 0.00074152! 0.020707006! 0.006323397! 0.018628281! 0.013825969! 0.009514847! 0.035071067! 0.025288441!

24/02/11& 5,808.20 0.010984946 [0.00300093! [0.00263457! 0.00448833! [0.003879191! 0.00777623! 0.006835836! 0.012293215! [0.000547861!

25/02/11& 5,847.26 0.006724756 0.007638075! 0.001731422! 0.000893655! [0.008623088! 0.009674076! 0.004732023! 0.009035413! 0.02495231!

26/02/11& 5,841.26 -0.001026467 0.002410503! [0.00526654! [0.003571429! [0.011503928! [0.000684385! 0.003276339! [0.006202433! [0.00562627!

27/02/11& 5,934.18 0.015907624 0.003344515! 0.005962724! 0.003584229! 0.004257735! 0.008389453! 0.034289213! 0.000135805! [0.004216686!

28/02/11& 5,970.48 0.006117827 0.00862342! 0.014209473! 0.024107143! 0.00763143! 0.031071368! 0.012826838! 0.007598165! 0.02239338!


24/53

01/03/11& 6,038.66 0.011420035 0.005386934! 0.013544593! 0.023539669! 0.029453015! 0.018059062! 0.017145641! 0.014056366! 0.018807121!

02/03/11& 6,117.23 0.013011002 [0.005953046! 0.007654801! 0.002555366! [0.010081744! [0.005122122! 0.002681735! [0.002837019! [0.003764584!

03/03/11& 6,157.52 0.006585239 0.003769804! 0.008074114! 0.038232795! 0.017065786! 0.02043139! 0.051485338! 0.014399286! 0.024848535!

04/03/11& 6,124.45 -0.005370487 0.001601091! [0.010702823! [0.006546645! 0.002435724! 0.023527537! [0.006540698! [0.006677596! 0.017399872!

05/03/11& 6,165.26 0.006664004 [0.002654352! [0.002379523! 0.011532125! [0.010259179! [0.012193856! [0.011613021! [0.005008798! 0.020716439!

06/03/11& 6,243.33 0.012663034 0.000656285! 0.017083181! 0.054560261! [0.003546099! [0.002521406! 0.005273383! [0.000791802! [0.001349805!

07/03/11& 6,311.80 0.010967061 0.005408327! 0.017035691! 0.020849421! 0.011223652! 0.02675233! 0.033314927! 0.006593941! [0.004270365!

08/03/11& 6,437.50 0.019915208 0.021333368! 0.024942007! 0.004538578! [0.000270709! 0.074626866! 0.019861062! 0.006838059! 0.001947611!

09/03/11& 6,458.10 0.003198753 0.018628238! 0.024166143! [0.005271084! 0.034389385! 0.004438717! [0.005501703! 0.030841932! 0.010406338!

10/03/11& 6,514.10 0.008671333 0.005882649! [0.008252306! 0.048448145! [0.00026178! 0.008743169! [0.010010537! 0.050359872! [0.010483769!

11/03/11& 6,562.92 0.007494853 0.017284747! 0.002434433! 0.046209386! [0.002094789! 0.012153187! 0.012151854! [0.003515781! [0.006706467!

12/03/11& 6,578.28 0.002340167 [0.005283918! 0.01070938! 0.015873016! 0.019155077! 0.013775771! 0.038121111! [0.018418505! 0.015332299!

13/03/11& 6,486.58 -0.013939176 [0.025253604! [0.025262107! [0.036005435! [0.024201854! [0.035073222! [0.018402836! [0.008805445! [0.017213514!

14/03/11& 6,587.58 0.015570339 0.012544262! 0.008250547! 0.024665257! 0.012664908! 0.012227033! 0.050137599! [0.000728526! 0.008222544!

15/03/11& 6,619.10 0.00478405 [0.00349397! 0.007060788! [0.014442916! 0.008337676! 0.001128032! [0.001637867! 0.008590906! [0.004500255!

16/03/11& 6,660.98 0.006327602 [0.008356388! [0.009604861! 0.011863224! 0.065374677! [0.009765258! [0.004183414! [0.003792252! [0.008300926!

17/03/11& 6,710.53 0.007439742 [0.023947363! 0.00067645! 0.013103448! 0.015037594! 0.01521904! 0.01383855! [0.006162177! [0.000617081!

18/03/11& 6,696.39 -0.002107425 [0.000904003! [0.013961582! [0.021783526! [0.005734767! [0.009480222! [0.051754956! 0.00195056! [0.005746382!

19/03/11& 6,642.04 -0.008117035 [0.001672943! [0.013826668! [0.011134308! [0.016101899! [0.00678925! [0.017993317! [0.005057234! [0.011479055!

20/03/11& 6,627.75 -0.002150625 [0.001307343! [0.008080558! [0.00070373! 0.009037616! [0.017516377! [0.006892941! [0.017691908! 0.001793531!

21/03/11& 6,587.81 -0.006026222 0.004684521! 0.034861532! 0.008450704! 0.056402808! 0.00531478! 0.005095765! [0.001552346! 0.001416072!

22/03/11& 6,459.62 -0.019458562 [0.014940068! [0.009689078! [0.032122905! [0.046287809! [0.054260585! [0.028059441! 0.000585124! [0.00323216!

23/03/11& 6,367.60 -0.014246343 [0.002661917! [0.018464101! [0.032467532! [0.02931283! [0.048683809! [0.019965824! [0.021497711! [0.015068146!

24/03/11& 6,192.95 -0.027427983 0.000763995! [0.024219639! [0.030574198! [0.036881188! [0.009668803! [0.026704598! [0.023899507! [0.02735653!

25/03/11& 6,389.34 0.031711859 [0.000723754! 0.0047648! 0.01! 0.027242354! 0.022924645! 0.015651518! 0.024933672! 0.003881996!


25/53

26/03/11& 6,259.90 -0.020257555 0.002566392! [0.01586598! [0.000761615! [0.006254691! 0.004323982! 0.003341998! [0.015730695! [0.029502877!

27/03/11& 6,120.16 -0.022323331 [0.00688777! [0.021190652! [0.016006098! [0.048841893! [0.043368686! [0.037934863! [0.013161393! [0.025351226!

28/03/11& 6,223.94 0.01695718 0.003128965! 0.008867204! 0.047250194! 0.035733192! 0.021734358! 0.011444509! 0.006138383! 0.027068875!

29/03/11& 6,177.81 -0.007411483 [0.003129139! [0.009585659! [0.019970414! [0.013800153! [0.017619252! [0.013692118! 0.003516187! [0.006258067!

30/03/11& 6,162.68 -0.002449772 [0.004171995! [0.006469346! [0.016603774! [0.008810573! [0.008584864! [0.006844693! [0.007396407! [0.012976949!

31/03/11& 6,212.86 0.008142801 0.003865924! 0.007195727! 0.003837299! 0.013594771! [0.004577795! 0.011745292! 0.009900296! 0.010173052!

01/04/11& 6,172.30 -0.006528811 [0.003103423! [0.001504836! [0.017584098! [0.053391798! 0.008699025! [0.007867217! 0.002390046! [0.019911335!

02/04/11& 6,112.27 -0.009724904 [0.002733115! [0.019680143! 0.004669261! [0.041416894! [0.010491623! [0.021081133! [0.011633076! [0.017802895!

03/04/11& 6,043.92 -0.011182428 [0.002934453! [0.019045345! 0! [0.013928368! [0.003386255! [0.013533537! [0.01119172! [0.050385481!

After!Event!

04/04/11& 6,057.40 0.002229037 0.000479341! 0.009471714! 0.03718048! 0.029691554! 0.011140199! 0.019427198! 0.008110726! 0.021206787!

05/04/11& 6,045.63 -0.001942955 0.000331693! [0.012955106! [0.015683346! [0.011478163! [0.012835344! [0.014047151! [0.007143066! 0.011972046!

06/04/11& 6,131.49 0.014202153 0.001115324! [0.013995572! [0.019726859! [0.009062589! 0.009263393! [0.011756501! 0.004402842! [0.006836379!

07/04/11& 6,212.00 0.013130465 0.008076253! 0.035295849! [0.007739938! [0.00914547! [0.009399536! [0.010283295! 0.041984464! 0.038325575!

08/04/11& 6,193.08 -0.00304517 0.009246138! 0.017659598! [0.095163807! 0.037496395! 0.019982139! 0.033207701! 0.016664129! 0.033304119!

09/04/11& 6,141.80 -0.008281069 [0.004722115! [0.008489152! [0.073275862! [0.018626633! 0.009302835! [0.003450656! [0.003788509! [0.007535721!

10/04/11& 6,065.60 -0.012406359 [0.00618836! [0.008435816! [0.017674419! [0.01388102! [0.016265452! [0.016323704! [0.005306266! [0.006519191!

11/04/11& 6,095.54 0.004936385 0.00371353! [0.000964392! [0.017045455! [0.014076415! [0.001212522! [0.000704013! [0.01930074! [0.023799546!

12/04/11& 6,077.32 -0.00298992 [0.001222223! [0.003636799! 0.003853565! [0.011655012! 0.005187065! [0.008856683! [0.006369936! [0.003875006!

13/04/11& 6,017.96 -0.009766937 0.002706109! 0.00119416! [0.013435701! 0.020636792! [0.0171278! 0.005381803! 0.004647235! [0.010581471!

14/04/11& 5,920.84 -0.016137252 [0.004994113! [0.007981576! [0.026264591! [0.017331023! [0.012622878! [0.009493991! [0.009565958! [0.018523613!

15/04/11& 6,055.17 0.022687145 [0.002891845! [0.019668338! 0.013986014! [0.026161082! [0.013689331! [0.01417355! [0.023727326! 0.019328693!

16/04/11& !5,960.74!! -0.015595314 0.004610369! 0.011554897! [0.004926108! 0.009960761! 0.000286763! 0.020273066! 0.026302718! [0.005728755!

4/17/11& 5,966.51 0.000968516 [0.000915851! 0.002882416! 0.001980198! 0.015540944! 0.005790952! 0.004156529! [0.01152942! [0.007444197!

4/18/11& 5,800.42 -0.027836903 [0.005895384! [0.010530878! [0.02173913! [0.010888758! [0.004560483! [0.018576477! 0.017965084! [0.028003204!

4/19/11& 5,841.20 0.00702993 [0.003073757! [0.018773101! [0.01010101! [0.02975305! [0.027602795! [0.014504681! 0.037168527! [0.004777774!


26/53

4/20/11& 5,809.56 -0.005416606 0.00359934! [0.006366983! 0.008163265! [0.015946029! [0.013074205! [0.017327766! [0.021349543! 0.02148318!

4/21/11& !5,649.44!! -0.027561217 0.001996914! 0.013375159! [0.032388664! 0.017450919! 0.014739229! 0.012322074! 0.035896221! [0.035107095!

4/22/11& 5,652.32 0.000509767 [0.001303073! [0.028520541! [0.019874477! [0.053292496! [0.01623052! [0.026862539! [0.044694593! 0.000864557!

4/23/11& !5,784.97!! 0.023467345 0.005669589! [0.008918635! [0.001067236! [0.020381753! [0.027198278! [0.013370714! [0.003996192! 0.025013991!

4/24/11& 5,991.37 0.035679355 0.006211675! 0.008061845! 0.043803419! 0.035006605! 0.01849576! 0.011584699! 0.029390554! 0.043477745!

4/25/11& 5,879.15 -0.018730663 0.004573935! 0.034225225! [0.009211873! 0.063178047! 0.054781297! 0.048076923! 0.034172732! [0.007541547!

5,851.02 -0.004785008 [0.003975353! [0.001774341! [0.020661157! 0.006002401! 0.005891437! 0.008658901! [0.021220772! [0.018510029! !!!STOCK(RETURNS(

(

Date!United!

Airways!Return!

Summit!

Power!Return!

Square!

Textiles!Return!

Beximco!

Pharma!Return!

Grameen!

Phone!Return!

Berger!!

Paints!Return!

!09/02/11& 43.82! !! 80.26! !! 130.55! !! 78.64! !! 147.51! !! 718.90! !!

Before!

Event!

10/02/11& 44.46! 0.01! 79.19! [0.01! 130.33! 0.00! 77.90! [0.01! 147.26! [0.0017! 720.79! 0.0026!11/02/11& 46.47! 0.05! 79.86! 0.01! 129.78! 0.00! 77.92! 0.00! 147.68! 0.0029! 720.79! 0.0000!

12/02/11& 48.10! 0.04! 82.86! 0.04! 128.51! [0.01! 78.08! 0.00! 146.63! [0.0071! 723.97! 0.0044!

13/02/11& 47.99! 0.00! 83.62! 0.01! 129.33! 0.01! 78.19! 0.00! 148.30! 0.0114! 732.84! 0.0123!

14/02/11& 46.98! [0.02! 82.69! [0.01! 129.51! 0.00! 78.73! 0.01! 147.08! [0.0082! 726.88! [0.0081!

15/02/11& 47.03! 0.00! 82.67! 0.00! 129.75! 0.00! 79.88! 0.01! 147.29! 0.0014! 731.21! 0.0060!

16/02/11& 46.08! [0.02! 80.14! [0.03! 126.17! [0.03! 77.45! [0.03! 142.83! [0.0303! 709.09! [0.0303!

17/02/11& 47.02! 0.02! 80.33! 0.00! 128.22! 0.02! 77.87! 0.01! 143.63! 0.0056! 724.00! 0.0210!

18/02/11& 47.35! 0.01! 79.54! [0.01! 127.24! [0.01! 77.67! 0.00! 143.29! [0.0024! 720.84! [0.0044!

19/02/11& 45.83! [0.03! 79.01! [0.01! 126.11! [0.01! 76.99! [0.01! 141.26! [0.0142! 715.52! [0.0074!

During!Event!

20/02/11& 45.13! [0.02! 78.11! [0.01! 126.77! 0.01! 76.03! [0.01! 140.63! [0.0045! 715.25! [0.0004!

21/02/11& 44.63! [0.01! 77.27! [0.01! 123.48! [0.03! 74.53! [0.02! 139.84! [0.0056! 705.74! [0.0133!22/02/11& 44.19! [0.01! 76.25! [0.01! 123.66! 0.00! 74.03! [0.01! 139.32! [0.0037! 705.02! [0.0010!

23/02/11& 45.36! 0.03! 77.70! 0.02! 123.84! 0.00! 76.68! 0.04! 141.75! 0.0174! 703.99! [0.0015!

24/02/11& 45.20! 0.00! 77.58! 0.00! 122.80! [0.01! 76.79! 0.00! 142.07! 0.0023! 708.35! 0.0062!


27/53

25/02/11& 44.92! [0.01! 77.85! 0.00! 122.38! 0.00! 76.71! 0.00! 143.89! 0.0128! 709.67! 0.0019!

26/02/11& 44.34! [0.01! 77.61! 0.00! 122.21! 0.00! 76.56! 0.00! 149.74! 0.0407! 708.46! [0.0017!

27/02/11& 44.25! 0.00! 77.52! 0.00! 125.07! 0.02! 77.22! 0.01! 150.57! 0.0055! 706.20! [0.0032!

28/02/11& 45.42! 0.03! 78.71! 0.02! 127.60! 0.02! 78.09! 0.01! 154.22! 0.0242! 718.36! 0.0172!

01/03/11& 46.55! 0.02! 80.64! 0.02! 136.14! 0.07! 80.00! 0.02! 156.00! 0.0115! 719.61! 0.0017!02/03/11& 46.21! [0.01! 81.05! 0.01! 137.97! 0.01! 79.84! 0.00! 160.92! 0.0315! 726.77! 0.0099!

03/03/11& 46.33! 0.00! 81.96! 0.01! 143.78! 0.04! 81.71! 0.02! 166.93! 0.0373! 730.77! 0.0055!

04/03/11& 47.32! 0.02! 82.01! 0.00! 141.58! [0.02! 81.98! 0.00! 163.89! [0.0182! 729.00! [0.0024!

05/03/11& 46.84! [0.01! 81.57! [0.01! 139.25! [0.02! 83.92! 0.02! 161.81! [0.0127! 738.64! 0.0132!

06/03/11& 46.32! [0.01! 83.15! 0.02! 137.66! [0.01! 87.43! 0.04! 164.32! 0.0155! 741.41! 0.0038!

07/03/11& 47.02! 0.02! 84.68! 0.02! 141.54! 0.03! 90.64! 0.04! 168.04! 0.0226! 741.77! 0.0005!

08/03/11& 46.97! 0.00! 85.88! 0.01! 141.33! 0.00! 94.66! 0.04! 173.87! 0.0347! 734.15! [0.0103!

09/03/11& 48.08! 0.02! 87.65! 0.02! 143.78! 0.02! 96.38! 0.02! 175.35! 0.0085! 737.06! 0.0040!

10/03/11& 49.05! 0.02! 87.80! 0.00! 144.58! 0.01! 101.34! 0.05! 173.96! [0.0079! 744.48! 0.0101!

11/03/11& 50.52! 0.03! 87.44! 0.00! 146.03! 0.01! 102.01! 0.01! 177.22! 0.0187! 764.66! 0.0271!

12/03/11& 51.95! 0.03! 89.13! 0.02! 148.44! 0.02! 100.71! [0.01! 182.27! 0.0285! 772.74! 0.0106!

13/03/11& 50.24! [0.03! 87.05! [0.02! 143.54! [0.03! 99.87! [0.01! 176.94! [0.0292! 743.81! [0.0374!

14/03/11& 49.87! [0.01! 93.02! 0.07! 145.45! 0.01! 105.57! 0.06! 194.53! 0.0994! 746.30! 0.0033!

15/03/11& 53.39! 0.07! 95.38! 0.03! 144.39! [0.01! 106.30! 0.01! 196.85! 0.0119! 749.82! 0.0047!

16/03/11& 56.42! 0.06! 95.74! 0.00! 145.53! 0.01! 109.66! 0.03! 211.70! 0.0754! 754.81! 0.0067!

17/03/11& 56.24! 0.00! 95.24! [0.01! 151.30! 0.04! 108.49! [0.01! 214.70! 0.0142! 787.63! 0.0435!

18/03/11& 56.03! 0.00! 97.88! 0.03! 155.98! 0.03! 109.32! 0.01! 207.37! [0.0341! 805.09! 0.0222!

19/03/11& 56.92! 0.02! 101.98! 0.04! 161.04! 0.03! 108.14! [0.01! 207.09! [0.0014! 794.18! [0.0136!

20/03/11& 56.37! [0.01! 106.34! 0.04! 163.28! 0.01! 110.47! 0.02! 206.06! [0.0050! 783.20! [0.0138!

21/03/11& 54.31! [0.04! 103.55! [0.03! 161.59! [0.01! 115.64! 0.05! 194.29! [0.0571! 779.61! [0.0046!

22/03/11& 52.57! [0.03! 100.02! [0.03! 156.40! [0.03! 111.13! [0.04! 187.36! [0.0357! 762.41! [0.0221!23/03/11& 52.17! [0.01! 95.82! [0.04! 156.57! 0.00! 107.35! [0.03! 179.61! [0.0414! 730.30! [0.0421!

24/03/11& 51.04! [0.02! 98.67! 0.03! 159.94! 0.02! 104.25! [0.03! 182.96! 0.0187! 708.54! [0.0298!

25/03/11& 52.14! 0.02! 98.43! 0.00! 162.60! 0.02! 105.95! 0.02! 181.72! [0.0068! 716.44! 0.0111!


28/53

26/03/11& 51.76! [0.01! 93.88! [0.05! 165.31! 0.02! 104.37! [0.01! 173.62! [0.0446! 705.91! [0.0147!

27/03/11& 49.79! [0.04! 95.99! 0.02! 161.58! [0.02! 99.69! [0.04! 178.68! 0.0291! 698.50! [0.0105!

28/03/11& 50.76! 0.02! 94.44! [0.02! 164.06! 0.02! 101.26! 0.02! 176.66! [0.0113! 717.77! 0.0276!

29/03/11& 49.83! [0.02! 93.19! [0.01! 159.56! [0.03! 99.68! [0.02! 181.57! 0.0278! 703.80! [0.0195!

30/03/11& 48.77! [0.02! 93.83! 0.01! 156.79! [0.02! 98.26! [0.01! 187.36! 0.0319! 706.64! 0.0040!31/03/11& 48.85! 0.00! 93.13! [0.01! 156.88! 0.00! 100.68! 0.02! 185.41! [0.0104! 704.85! [0.0025!

01/04/11& 46.89! [0.04! 92.65! [0.01! 153.18! [0.02! 99.91! [0.01! 182.17! [0.0175! 702.21! [0.0037!

02/04/11& 46.00! [0.02! 90.14! [0.03! 148.97! [0.03! 98.57! [0.01! 178.50! [0.0201! 689.39! [0.0183!

03/04/11& 45.31! [0.02! 91.51! 0.02! 146.59! [0.02! 96.46! [0.02! 181.37! 0.0161! 685.72! [0.0053!

After!

Event!

04/04/11& 31.40! [0.31! 89.92! [0.02! 149.77! 0.02! 98.10! 0.02! 178.73! [0.0146! 695.49! 0.0142!

05/04/11& 31.84! 0.01! 88.72! [0.01! 147.17! [0.02! 95.91! [0.02! 178.51! [0.0012! 690.75! [0.0068!

06/04/11& 30.96! [0.03! 87.52! [0.01! 149.87! 0.02! 95.90! 0.00! 176.90! [0.0090! 684.00! [0.0098!

07/04/11& 31.89! 0.03! 90.23! 0.03! 147.44! [0.02! 94.44! [0.02! 179.38! 0.0140! 679.30! [0.0069!

08/04/11& 31.81! 0.00! 90.51! 0.00! 151.16! 0.03! 95.51! 0.01! 178.97! [0.0023! 683.54! 0.0062!

09/04/11& 31.33! [0.02! 88.69! [0.02! 151.20! 0.00! 95.38! 0.00! 176.47! [0.0140! 679.60! [0.0058!

10/04/11& 30.43! [0.03! 87.01! [0.02! 149.61! [0.01! 94.17! [0.01! 173.20! [0.0185! 675.90! [0.0054!

11/04/11& 30.07! [0.01! 86.31! [0.01! 146.20! [0.02! 92.24! [0.02! 171.94! [0.0073! 675.00! [0.0013!

12/04/11& 30.37! 0.01! 87.94! 0.02! 143.71! [0.02! 93.65! 0.02! 173.21! 0.0074! 686.78! 0.0175!

13/04/11& 30.18! [0.01! 86.43! [0.02! 144.83! 0.01! 95.92! 0.02! 171.17! [0.0118! 680.86! [0.0086!

14/04/11& 29.47! [0.02! 84.66! [0.02! 142.42! [0.02! 96.13! 0.00! 166.59! [0.0268! 674.72! [0.0090!

15/04/11& 30.08! 0.02! 85.45! 0.01! 137.93! [0.03! 94.15! [0.02! 168.30! 0.0103! 663.76! [0.0162!

16/04/11& 30.59! 0.02! 86.11! 0.01! 142.54! 0.03! 95.12! 0.01! 170.28! 0.0118! 656.58! [0.0108!

17/04/11& 30.08! [0.02! 85.50! [0.01! 143.77! 0.01! 97.58! 0.03! 167.94! [0.0137! 656.22! [0.0005!

18/04/11& 29.37! [0.02! 83.42! [0.02! 143.15! 0.00! 99.10! 0.02! 163.73! [0.0251! 647.46! [0.0133!

19/04/11& 29.15! [0.01! 83.60! 0.00! 140.20! [0.02! 100.60! 0.02! 162.25! [0.0090! 639.00! [0.0131!

20/04/11& 29.60! 0.02! 85.04! 0.02! 138.60! [0.01! 100.52! 0.00! 163.70! 0.0089! 640.65! 0.0026!21/04/11& 28.34! [0.04! 81.48! [0.04! 141.16! 0.02! 101.55! 0.01! 158.82! [0.0298! 640.01! [0.0010!

22/04/11& 28.11! [0.01! 81.54! 0.00! 135.16! [0.04! 97.40! [0.04! 157.12! [0.0107! 638.42! [0.0025!

23/04/11& 28.60! 0.02! 85.17! 0.04! 134.51! 0.00! 97.21! 0.00! 160.35! 0.0206! 617.59! [0.0326!


29/53

24/04/11& 29.67! 0.04! 90.84! 0.07! 139.05! 0.03! 100.06! 0.03! 167.28! 0.0432! 629.05! 0.0186!

25/04/11& 29.46! [0.01! 91.75! 0.01! 144.15! 0.04! 103.91! 0.04! 166.43! [0.0051! 645.16! 0.0256!

26/04/11& 28.89! [0.02! 91.50! 0.00! 142.29! [0.01! 103.90! 0.00! 163.86! [0.0154! 642.23! [0.0045!

27/04/11&

!

[1.00! 93.46! 0.02! 139.37! [0.02! 104.06! 0.00! 164.29! 0.0026! 637.30! [0.0077!

!! !! !! !! !! 140.73! !! 106.84! !! !! !! 649.94! !!

(

Date! Islami!Bank! Return! Bata!Shoe! Return!Samorita!

Hospital!Return!

Lafarge!Surma!

Cement!Return! GPH!Ispat! Return!

!09/02/11& 1,348.04! !! 3,007.51! !! 900.65! !! 3,056.57! !! 1,413.67! !!

Before!

Event!

10/02/11& 1,346.90! 0.00! 3,006.70! 0.00! 926.21! 0.03! 3,046.51! 0.00! 1,415.53! 0.00!

11/02/11& 1,359.64! 0.01! 3,000.94! 0.00! 1,005.94! 0.09! 3,054.47! 0.00! 1,392.12! [0.02!

12/02/11& 1,371.24! 0.01! 2,999.17! 0.00! 991.04! [0.01! 3,056.18! 0.00! 1,383.46! [0.01!

13/02/11& 1,410.12! 0.03! 2,997.27! 0.00! 943.89! [0.05! 3,045.30! 0.00! 1,405.53! 0.02!

14/02/11& 1,382.99! [0.02! 2,993.07! 0.00! 956.09! 0.01! 3,044.00! 0.00! 1,422.35! 0.01!

15/02/11& 1,392.96! 0.01! 3,000.32! 0.00! 943.45! [0.01! 3,051.23! 0.00! 1,420.07! 0.00!

16/02/11& 1,342.97! [0.04! 2,955.93! [0.01! 897.51! [0.05! 2,995.42! [0.02! 1,386.13! [0.02!

17/02/11& 1,358.77! 0.01! 2,992.89! 0.01! 891.29! [0.01! 3,040.15! 0.01! 1,391.39! 0.00!

18/02/11& 1,373.52! 0.01! 2,995.28! 0.00! 895.51! 0.00! 3,032.68! 0.00! 1,385.79! 0.00!

19/02/11& 1,351.83! [0.02! 2,992.42! 0.00! 877.44! [0.02! 3,006.46! [0.01! 1,367.48! [0.01!

During!

Event!

20/02/11& 1,355.04! 0.00! 2,961.64! [0.01! 866.53! [0.01! 2,988.94! [0.01! 1,349.85! [0.01!

21/02/11& 1,333.92! [0.02! 2,916.05! [0.02! 852.99! [0.02! 2,972.00! [0.01! 1,327.03! [0.02!

22/02/11& 1,329.74! 0.00! 2,977.50! 0.02! 842.75! [0.01! 2,966.88! 0.00! 1,327.57! 0.00!

23/02/11& 1,351.61! 0.02! 2,973.06! 0.00! 867.51! 0.03! 2,969.08! 0.00! 1,355.06! 0.02!

24/02/11& 1,356.28! 0.00! 2,999.35! 0.01! 869.53! 0.00! 2,960.17! 0.00! 1,351.49! 0.00!

25/02/11& 1,368.42! 0.01! 2,986.10! 0.00! 869.48! 0.00! 2,982.78! 0.01! 1,353.83! 0.00!

26/02/11& 1,369.54! 0.00! 2,985.80! 0.00! 862.32! [0.01! 2,989.97! 0.00! 1,346.70! [0.01!27/02/11& 1,391.52! 0.02! 2,997.94! 0.00! 858.72! 0.00! 2,999.97! 0.00! 1,354.73! 0.01!

28/02/11& 1,397.34! 0.00! 3,020.73! 0.01! 883.21! 0.03! 3,025.84! 0.01! 1,373.98! 0.01!

01/03/11& 1,424.82! 0.02! 3,022.65! 0.00! 899.62! 0.02! 3,042.14! 0.01! 1,392.59! 0.01!


30/53

02/03/11& 1,420.45! 0.00! 3,034.46! 0.00! 887.60! [0.01! 3,024.03! [0.01! 1,403.25! 0.01!

03/03/11& 1,455.76! 0.02! 3,064.11! 0.01! 903.20! 0.02! 3,035.43! 0.00! 1,414.58! 0.01!

04/03/11& 1,463.32! 0.01! 3,025.84! [0.01! 897.24! [0.01! 3,040.29! 0.00! 1,399.44! [0.01!

05/03/11& 1,486.09! 0.02! 3,016.03! 0.00! 889.49! [0.01! 3,032.22! 0.00! 1,396.11! 0.00!

06/03/11& 1,582.40! 0.06! 3,021.09! 0.00! 896.92! 0.01! 3,034.21! 0.00! 1,419.96! 0.02!07/03/11& 1,650.54! 0.04! 3,053.33! 0.01! 912.72! 0.02! 3,050.62! 0.01! 1,444.15! 0.02!

08/03/11& 1,753.73! 0.06! 3,071.24! 0.01! 922.52! 0.01! 3,115.70! 0.02! 1,480.17! 0.02!

09/03/11& 1,759.45! 0.00! 3,180.27! 0.04! 952.20! 0.03! 3,173.74! 0.02! 1,515.94! 0.02!

10/03/11& 1,752.44! 0.00! 3,196.74! 0.01! 942.62! [0.01! 3,192.41! 0.01! 1,503.43! [0.01!

11/03/11& 1,735.73! [0.01! 3,278.65! 0.03! 929.91! [0.01! 3,247.59! 0.02! 1,507.09! 0.00!

12/03/11& 1,732.33! 0.00! 3,301.44! 0.01! 943.39! 0.01! 3,230.43! [0.01! 1,523.23! 0.01!

13/03/11& 1,678.20! [0.03! 3,255.18! [0.01! 921.69! [0.02! 3,148.85! [0.03! 1,484.75! [0.03!

14/03/11& 1,681.62! 0.00! 3,437.81! 0.06! 926.29! 0.00! 3,188.35! 0.01! 1,497.00! 0.01!

15/03/11& 1,716.06! 0.02! 3,499.73! 0.02! 922.87! 0.00! 3,177.21! 0.00! 1,507.57! 0.01!

16/03/11& 1,696.45! [0.01! 3,470.36! [0.01! 911.70! [0.01! 3,150.66! [0.01! 1,493.09! [0.01!

17/03/11& 1,725.04! 0.02! 3,492.96! 0.01! 962.74! 0.06! 3,075.21! [0.02! 1,494.10! 0.00!

18/03/11& 1,708.53! [0.01! 3,459.81! [0.01! 991.54! 0.03! 3,072.43! 0.00! 1,473.24! [0.01!

19/03/11& 1,684.18! [0.01! 3,400.60! [0.02! 967.51! [0.02! 3,067.29! 0.00! 1,452.87! [0.01!

20/03/11& 1,653.30! [0.02! 3,404.45! 0.00! 970.25! 0.00! 3,063.28! 0.00! 1,441.13! [0.01!

21/03/11& 1,631.79! [0.01! 3,405.23! 0.00! 988.74! 0.02! 3,077.63! 0.00! 1,491.37! 0.03!

22/03/11& 1,606.75! [0.02! 3,374.85! [0.01! 1,008.16! 0.02! 3,031.65! [0.01! 1,476.92! [0.01!

23/03/11& 1,571.68! [0.02! 3,305.78! [0.02! 972.98! [0.03! 3,023.58! 0.00! 1,449.65! [0.02!

24/03/11& 1,523.13! [0.03! 3,277.06! [0.01! 939.34! [0.03! 3,025.89! 0.00! 1,414.54! [0.02!

25/03/11& 1,533.41! 0.01! 3,323.02! 0.01! 953.96! 0.02! 3,023.70! 0.00! 1,421.28! 0.00!

26/03/11& 1,517.09! [0.01! 3,302.73! [0.01! 941.48! [0.01! 3,031.46! 0.00! 1,398.73! [0.02!

27/03/11& 1,448.13! [0.05! 3,258.63! [0.01! 911.44! [0.03! 3,010.58! [0.01! 1,369.09! [0.02!28/03/11& 1,525.02! 0.05! 3,271.01! 0.00! 936.56! 0.03! 3,020.00! 0.00! 1,381.23! 0.01!

29/03/11& 1,543.40! 0.01! 3,283.74! 0.00! 922.62! [0.01! 3,010.55! 0.00! 1,367.99! [0.01!

30/03/11& 1,521.39! [0.01! 3,253.90! [0.01! 921.44! 0.00! 2,997.99! 0.00! 1,359.14! [0.01!


31/53

31/03/11& 1,559.68! 0.03! 3,259.32! 0.00! 934.10! 0.01! 3,009.58! 0.00! 1,368.92! 0.01!

01/04/11& 1,564.86! 0.00! 3,288.58! 0.01! 932.72! 0.00! 3,000.24! 0.00! 1,366.86! 0.00!

02/04/11& 1,536.72! [0.02! 3,264.76! [0.01! 912.80! [0.02! 2,992.04! 0.00! 1,339.96! [0.02!

03/04/11& 1,496.13! [0.03! 3,213.31! [0.02! 900.66! [0.01! 2,983.26! 0.00! 1,314.44! [0.02!

After!

Event!

04/04/11& 1,527.46! 0.02! 3,204.03! 0.00! 909.96! 0.01! 2,984.69! 0.00! 1,326.89! 0.01!05/04/11& 1,517.42! [0.01! 3,174.00! [0.01! 888.10! [0.02! 2,985.68! 0.00! 1,309.70! [0.01!

06/04/11& 1,520.66! 0.00! 3,130.43! [0.01! 862.52! [0.03! 2,989.01! 0.00! 1,291.37! [0.01!

07/04/11& 1,578.68! 0.04! 3,203.46! 0.02! 899.16! 0.04! 3,013.15! 0.01! 1,336.95! 0.04!

08/04/11& 1,615.04! 0.02! 3,286.51! 0.03! 924.72! 0.03! 3,041.01! 0.01! 1,360.56! 0.02!

09/04/11& 1,606.33! [0.01! 3,220.36! [0.02! 913.53! [0.01! 3,026.65! 0.00! 1,349.01! [0.01!

10/04/11& 1,619.71! 0.01! 3,256.50! 0.01! 895.16! [0.02! 3,007.92! [0.01! 1,337.63! [0.01!

11/04/11& 1,602.78! [0.01! 3,206.72! [0.02! 886.45! [0.01! 3,019.09! 0.00! 1,336.34! 0.00!

12/04/11& 1,588.92! [0.01! 3,197.30! 0.00! 889.54! 0.00! 3,015.40! 0.00! 1,331.48! 0.00!

13/04/11& 1,599.74! 0.01! 3,200.00! 0.00! 894.47! 0.01! 3,023.56! 0.00! 1,333.07! 0.00!

14/04/11& 1,579.44! [0.01! 3,210.74! 0.00! 878.74! [0.02! 3,008.46! 0.00! 1,322.43! [0.01!

15/04/11& 1,550.73! [0.02! 3,154.44! [0.02! 860.14! [0.02! 2,999.76! 0.00! 1,296.42! [0.02!

16/04/11& 1,572.91! 0.01! 3,174.93! 0.01! 870.07! 0.01! 3,013.59! 0.00! 1,311.40! 0.01!

17/04/11& 1,559.45! [0.01! 3,159.70! 0.00! 868.62! 0.00! 3,010.83! 0.00! 1,315.18! 0.00!

18/04/11& 1,544.90! [0.01! 3,161.18! 0.00! 864.62! 0.00! 2,993.08! [0.01! 1,301.33! [0.01!

19/04/11& 1,521.53! [0.02! 3,116.09! [0.01! 844.32! [0.02! 2,983.88! 0.00! 1,276.90! [0.02!

20/04/11& 1,488.36! [0.02! 3,129.97! 0.00! 825.22! [0.02! 2,994.62! 0.00! 1,268.77! [0.01!

21/04/11& 1,514.30! 0.02! 3,123.57! 0.00! 838.43! 0.02! 3,000.60! 0.00! 1,285.74! 0.01!

22/04/11& 1,468.64! [0.03! 3,099.41! [0.01! 808.35! [0.04! 2,996.69! 0.00! 1,249.07! [0.03!

23/04/11& 1,442.77! [0.02! 3,123.97! 0.01! 791.78! [0.02! 3,013.68! 0.01! 1,237.93! [0.01!

24/04/11& 1,468.57! 0.02! 3,140.27! 0.01! 801.84! 0.01! 3,032.40! 0.01! 1,247.91! 0.01!

25/04/11& 1,555.00! 0.06! 3,206.58! 0.02! 844.25! 0.05! 3,046.27! 0.00! 1,290.62! 0.03!26/04/11& 1,563.22! 0.01! 3,171.03! [0.01! 845.36! 0.00! 3,034.16! 0.00! 1,288.33! 0.00!

27/04/11& 1,542.58! [0.01! 3,157.56! 0.00! 831.07! [0.02! 2,998.99! [0.01! 1,261.29! [0.02!

!! 1,564.05! !! 3,165.21! !! 835.85! !! 3,000.80! !! 1,273.32! !!


32/53

(

(

(

(

Date! United!Leasing!

Return! Daffodil!Computers!

Return! Dhaka!Insurance!

Return! Fu!Wang!Ceramics!

Return! BATBC! Return! Jute!Spinners!

Return!

!09/02/11& 11.32! !! 36.94! !! 183.92! !! 101.89! !! 936.43! !! 1,792.36! !!

Before!

Event!

10/02/11& 11.31! 0.00! 36.62! [0.01! 181.51! [0.01! 101.77! 0.00! 938.90! 0.00! 1,796.16! 0.00212011!

11/02/11& 11.39! 0.01! 36.70! 0.00! 183.89! 0.01! 102.06! 0.00! 937.23! 0.00! 1,804.85! 0.004838099!

12/02/11& 11.30! [0.01! 36.49! [0.01! 182.55! [0.01! 101.94! 0.00! 945.40! 0.01! 1,786.83! [0.009984209!

13/02/11& 11.57! 0.02! 37.83! 0.04! 182.57! 0.00! 104.68! 0.03! 948.58! 0.00! 1,771.20! [0.008747335!

14/02/11& 11.78! 0.02! 38.77! 0.02! 184.07! 0.01! 107.19! 0.02! 945.68! 0.00! 1,793.54! 0.012612918!

15/02/11& 11.75! 0.00! 37.67! [0.03! 183.65! 0.00! 105.26! [0.02! 936.95! [0.01! 1,768.84! [0.013771647!

16/02/11& 11.38! [0.03! 36.00! [0.04! 177.17! [0.04! 100.87! [0.04! 909.07! [0.03! 1,703.40! [0.036995997!

17/02/11& 11.31! [0.01! 36.63! 0.02! 177.47! 0.00! 101.50! 0.01! 923.59! 0.02! 1,700.40! [0.001761184!18/02/11& 11.25! [0.01! 37.47! 0.02! 177.19! 0.00! 100.63! [0.01! 904.91! [0.02! 1,677.43! [0.013508586!

19/02/11& 11.25! 0.00! 37.37! 0.00! 177.64! 0.00! 99.76! [0.01! 905.84! 0.00! 1,657.34! [0.011976655!

During!

Event!

20/02/11& 11.25! 0.00! 36.93! [0.01! 175.24! [0.01! 98.68! [0.01! 913.86! 0.01! 1,653.25! [0.00246781!

21/02/11& 11.09! [0.01! 35.74! [0.03! 172.67! [0.01! 96.94! [0.02! 897.03! [0.02! 1,615.05! [0.023106003!

22/02/11& 11.07! 0.00! 35.43! [0.01! 169.97! [0.02! 95.64! [0.01! 890.13! [0.01! 1,611.87! [0.001968979!

23/02/11& 11.14! 0.01! 36.09! 0.02! 172.32! 0.01! 96.55! 0.01! 912.64! 0.03! 1,668.40! 0.035071067!

24/02/11& 11.19! 0.00! 35.95! 0.00! 173.66! 0.01! 97.21! 0.01! 912.14! 0.00! 1,688.91! 0.012293215!

25/02/11& 11.20! 0.00! 35.64! [0.01! 175.34! 0.01! 97.67! 0.00! 934.90! 0.02! 1,704.17! 0.009035413!

26/02/11& 11.16! 0.00! 35.23! [0.01! 175.22! 0.00! 97.99! 0.00! 929.64! [0.01! 1,693.60! [0.006202433!

27/02/11& 11.20! 0.00! 35.38! 0.00! 176.69! 0.01! 101.35! 0.03! 925.72! 0.00! 1,693.83! 0.000135805!

28/02/11& 11.47! 0.02! 35.65! 0.01! 182.18! 0.03! 102.65! 0.01! 946.45! 0.02! 1,706.70! 0.007598165!

01/03/11& 11.74! 0.02! 36.70! 0.03! 185.47! 0.02! 104.41! 0.02! 964.25! 0.02! 1,730.69! 0.014056366!

02/03/11& 11.77! 0.00! 36.33! [0.01! 184.52! [0.01! 104.69! 0.00! 960.62! 0.00! 1,725.78! [0.002837019!


33/53

03/03/11& 12.22! 0.04! 36.95! 0.02! 188.29! 0.02! 110.08! 0.05! 984.49! 0.02! 1,750.63! 0.014399286!

04/03/11& 12.14! [0.01! 37.04! 0.00! 192.72! 0.02! 109.36! [0.01! 1,001.62! 0.02! 1,738.94! [0.006677596!

05/03/11& 12.28! 0.01! 36.66! [0.01! 190.37! [0.01! 108.09! [0.01! 1,022.37! 0.02! 1,730.23! [0.005008798!

06/03/11& 12.95! 0.05! 36.53! 0.00! 189.89! 0.00! 108.66! 0.01! 1,020.99! 0.00! 1,728.86! [0.000791802!

07/03/11& 13.22! 0.02! 36.94! 0.01! 194.97! 0.03! 112.28! 0.03! 1,016.63! 0.00! 1,740.26! 0.006593941!

08/03/11& 13.28! 0.00! 36.93! 0.00! 209.52! 0.07! 114.51! 0.02! 1,018.61! 0.00! 1,752.16! 0.006838059!

09/03/11& 13.21! [0.01! 38.20! 0.03! 210.45! 0.00! 113.88! [0.01! 1,029.21! 0.01! 1,806.20! 0.030841932!

10/03/11& 13.85! 0.05! 38.19! 0.00! 212.29! 0.01! 112.74! [0.01! 1,018.42! [0.01! 1,897.16! 0.050359872!

11/03/11& 14.49! 0.05! 38.11! 0.00! 214.87! 0.01! 114.11! 0.01! 1,011.59! [0.01! 1,890.49! [0.003515781!

12/03/11& 14.72! 0.02! 38.84! 0.02! 217.83! 0.01! 118.46! 0.04! 1,027.10! 0.02! 1,855.67! [0.018418505!

13/03/11& 14.19! [0.04! 37.90! [0.02! 210.19! [0.04! 116.28! [0.02! 1,009.42! [0.02! 1,839.33! [0.008805445!

14/03/11& 14.54! 0.02! 38.38! 0.01! 212.76! 0.01! 122.11! 0.05! 1,017.72! 0.01! 1,837.99! [0.000728526!

15/03/11& 14.33! [0.01! 38.70! 0.01! 213.00! 0.00! 121.91! 0.00! 1,013.14! 0.00! 1,853.78! 0.008590906!

16/03/11&14.50! 0.01! 41.23! 0.07! 210.92! [0.01! 121.40! 0.00! 1,004.73! [0.01! 1,846.75! [0.003792252!

17/03/11& 14.69! 0.01! 41.85! 0.02! 214.13! 0.02! 123.08! 0.01! 1,004.11! 0.00! 1,835.37! [0.006162177!

18/03/11& 14.37! [0.02! 41.61! [0.01! 212.10! [0.01! 116.71! [0.05! 998.34! [0.01! 1,838.95! 0.00195056!

19/03/11& 14.21! [0.01! 40.94! [0.02! 210.66! [0.01! 114.61! [0.02! 986.88! [0.01! 1,829.65! [0.005057234!

20/03/11& 14.20! 0.00! 41.31! 0.01! 206.97! [0.02! 113.82! [0.01! 988.65! 0.00! 1,797.28! [0.017691908!

21/03/11& 14.32! 0.01! 43.64! 0.06! 208.07! 0.01! 114.40! 0.01! 990.05! 0.00! 1,794.49! [0.001552346!

22/03/11& 13.86! [0.03! 41.62! [0.05! 196.78! [0.05! 111.19! [0.03! 986.85! 0.00! 1,795.54! 0.000585124!

23/03/11& 13.41! [0.03! 40.40! [0.03! 187.20! [0.05! 108.97! [0.02! 971.98! [0.02! 1,756.94! [0.021497711!

24/03/11& 13.00! [0.03! 38.91! [0.04! 185.39! [0.01! 106.06! [0.03! 945.39! [0.03! 1,714.95! [0.023899507!

25/03/11& 13.13! 0.01! 39.97! 0.03! 189.64! 0.02! 107.72! 0.02! 949.06! 0.00! 1,757.71! 0.024933672!

26/03/11& 13.12! 0.00! 39.72! [0.01! 190.46! 0.00! 108.08! 0.00! 921.06! [0.03! 1,730.06! [0.015730695!27/03/11& 12.91! [0.02! 37.78! [0.05! 182.20! [0.04! 103.98! [0.04! 897.71! [0.03! 1,707.29! [0.013161393!

28/03/11& 13.52! 0.05! 39.13! 0.04! 186.16! 0.02! 105.17! 0.01! 922.01! 0.03! 1,717.77! 0.006138383!

29/03/11& 13.25! [0.02! 38.59! [0.01! 182.88! [0.02! 103.73! [0.01! 916.24! [0.01! 1,723.81! 0.003516187!


34/53

30/03/11& 13.03! [0.02! 38.25! [0.01! 181.31! [0.01! 103.02! [0.01! 904.35! [0.01! 1,711.06! [0.007396407!

31/03/11& 13.08! 0.00! 38.77! 0.01! 180.48! 0.00! 104.23! 0.01! 913.55! 0.01! 1,728.00! 0.009900296!

01/04/11& 12.85! [0.02! 36.70! [0.05! 182.05! 0.01! 103.41! [0.01! 895.36! [0.02! 1,732.13! 0.002390046!

02/04/11& 12.91! 0.00! 35.18! [0.04! 180.14! [0.01! 101.23! [0.02! 879.42! [0.02! 1,711.98! [0.011633076!

03/04/11& 12.91! 0.00! 34.69! [0.01! 179.53! 0.00! 99.86! [0.01! 835.11! [0.05! 1,692.82! [0.01119172!

After!

Event!

04/04/11& 13.39! 0.04! 35.72! 0.03! 181.53! 0.01! 101.80! 0.02! 852.82! 0.02! 1,706.55! 0.008110726!

05/04/11& 13.18! [0.02! 35.31! [0.01! 179.20! [0.01! 100.37! [0.01! 863.03! 0.01! 1,694.36! [0.007143066!

06/04/11& 12.92! [0.02! 34.99! [0.01! 180.86! 0.01! 99.19! [0.01! 857.13! [0.01! 1,701.82! 0.004402842!

07/04/11& 12.82! [0.01! 34.67! [0.01! 179.16! [0.01! 98.17! [0.01! 889.98! 0.04! 1,773.27! 0.041984464!

08/04/11& 11.60! [0.10! 35.97! 0.04! 182.74! 0.02! 101.43! 0.03! 919.62! 0.03! 1,802.82! 0.016664129!

09/04/11& 10.75! [0.07! 35.30! [0.02! 184.44! 0.01! 101.08! 0.00! 912.69! [0.01! 1,795.99! [0.003788509!

10/04/11& 10.56! [0.02! 34.81! [0.01! 181.44! [0.02! 99.43! [0.02! 906.74! [0.01! 1,786.46! [0.005306266!

11/04/11& 10.38! [0.02! 34.32! [0.01! 181.22! 0.00! 99.36! 0.00! 885.16! [0.02! 1,751.98! [0.01930074!

12/04/11& 10.42! 0.00! 33.92! [0.01! 182.16! 0.01! 98.48! [0.01! 881.73! 0.00! 1,740.82![0.006369936!

13/04/11& 10.28! [0.01! 34.62! 0.02! 179.04! [0.02! 99.01! 0.01! 872.40! [0.01! 1,748.91! 0.004647235!

14/04/11& 10.01! [0.03! 34.02! [0.02! 176.78! [0.01! 98.07! [0.01! 856.24! [0.02! 1,732.18! [0.009565958!

15/04/11& 10.15! 0.01! 33.13! [0.03! 174.36! [0.01! 96.68! [0.01! 872.79! 0.02! 1,691.08! [0.023727326!

16/04/11& 10.10! 0.00! 33.46! 0.01! 174.41! 0.00! 98.64! 0.02! 867.79! [0.01! 1,735.56! 0.026302718!

17/04/11& 10.12! 0.00! 33.98! 0.02! 175.42! 0.01! 99.05! 0.00! 861.33! [0.01! 1,715.55! [0.01152942!

18/04/11& 9.90! [0.02! 33.61! [0.01! 174.62! 0.00! 97.21! [0.02! 837.21! [0.03! 1,746.37! 0.017965084!

19/04/11& 9.80! [0.01! 32.61! [0.03! 169.80! [0.03! 95.80! [0.01! 833.21! 0.00! 1,811.28! 0.037168527!

20/04/11& 9.88! 0.01! 32.09! [0.02! 167.58! [0.01! 94.14! [0.02! 851.11! 0.02! 1,772.61! [0.021349543!

21/04/11& 9.56! [0.03! 32.65! 0.02! 170.05! 0.01! 95.30! 0.01! 821.23! [0.04! 1,836.24! 0.035896221!

22/04/11& 9.37! [0.02! 30.91! [0.05! 167.29! [0.02! 92.74! [0.03! 821.94! 0.00! 1,754.17! [0.044694593!23/04/11& 9.36! 0.00! 30.28! [0.02! 162.74! [0.03! 91.50! [0.01! 842.50! 0.03! 1,747.16! [0.003996192!

24/04/11& 9.77! 0.04! 31.34! 0.04! 165.75! 0.02! 92.56! 0.01! 879.13! 0.04! 1,798.51! 0.029390554!

25/04/11& 9.68! [0.01! 33.32! 0.06! 174.83! 0.05! 97.01! 0.05! 872.50! [0.01! 1,859.97! 0.034172732!


35/53

26/04/11& 9.48! [0.02! 33.52! 0.01! 175.86! 0.01! 97.85! 0.01! 856.35! [0.02! 1,820.50! [0.021220772!

27/04/11& 9.53! 0.01! 32.69! [0.02! 174.47! [0.01! 95.97! [0.02! 882.28! 0.03! 1,818.57! [0.001060148!

!! !! !! 32.49! !! 175.53! 0.01! 96.31! 0.00! !! [1.00! 1,912.45! 0.051622978!

(

ABNORMAL(RETURNS(

(

!

!!

!Date&

Unique!Hotel!

and!Resorts!

Jamuna!Oil!

Company!Ltd!

Square!

Textiles!

Glaxosmith!

Kline!

Grameen!

Phone!Berger!Paints! Islami!bank! Bata!Shoe!

!09/02/11& 0.000242250! [0.000221127! [0.000027951! [0.000156079! [0.000028111! 0 .000043606 ! [0.000014027! [0.000004467!

Before!

Event!

10/02/11& 0.000001392! 0.000000261! [0.000000130! 0.000000008! 0.000000088! 0.000000000! 0.000000291! [0.000000059!

11/02/11& 0.000498142! 0.000533495! [0.000138974! 0.000029161! [0.000100973! 0.000062655! 0.000121164! [0.000008376!

12/02/11& [0.000037972! 0.000152295! 0.000105949! 0.000023392! 0.000189109! 0.000203433! 0.000470794! [0.000010519!

13/02/11& [0.000026035! [0.000013758! 0.000001722! 0.000008543! [0.000010177! [0 .000010060 ! [0.000023800! [0.000001733!

14/02/11& 0.000007279! [0.000001654! 0.000012674! 0.000099900! 0.000009765! 0.000040741! 0.000049304! 0.000016566!

15/02/11& 0.001057329! 0.001601896! 0.001444233! 0.001592318! 0.001584978! 0.001583451! 0.001878478! 0.000774425!16/02/11& 0.000820977! 0.000095416! 0.000653903! 0.000218245! 0.000225417! 0.000846237! 0.000473485! 0.000503215!

17/02/11& [0.000103921! 0.000145621! 0.000113173! 0.000038031! 0.000035052! 0.000064628! [0.000160739! [0.000011824!

18/02/11& 0.000024689! 0.000005125! 0.000006830! 0.000006733! 0.000010896! 0.000005676! 0.000012145! 0.000000734!

19/02/11& 0.000096291! 0.000071812! [0.000032994! 0.000078609! 0.000028116! 0.000002379! [0.000014970! 0.000064846!

During!

Event!

20/02/11& 0.000171586! 0.000166552! 0.000401937! 0.000305552! 0.000087002! 0.000205921! 0.000241390! 0.000238405!

21/02/11& [0.000015699! [0.000021020! 0.000002321! [0.000010683! [0.000005921! [0 .000001625 ! [0.000004990! 0.000033555!

22/02/11& 0.000229241! 0.000164649! 0.000012603! 0.000309933! 0.000151016! [0.000012649! 0.000142401! [0.000012911!

23/02/11& [0.000038748! [0.000016965! [0.000092251! 0.000015758! 0.000024798! 0.000068033! 0.000037955! 0.000097137!

24/02/11& [0.000041658! 0.000023404! [0.000023000! [0.000007006! 0.000086148! 0.000012531! 0.000060193! [0.000029707!

25/02/11& 0.000013254! 0.000003164! 0.000001426! 0.000002007! [0.000041732! 0.000001750! [0.000000840! 0.000000103!

26/02/11& [0.000032289! [0.000018447! 0.000372276! 0.000137135! 0.000088175! [0.000050746! 0.000255304! 0.000064679!

27/02/11& 0.000161759! 0.000093914! 0.000123756! 0.000068927! 0.000148304! 0.000105342! 0.000025588! 0.000046507!

28/02/11& 0.000284118! 0.000280024! 0.000764319! 0.000279322! 0.000131810! 0.000019872! 0.000224586! 0.000007259!

01/03/11& [0.000095032! 0.000066152! 0.000174894! [0.000026022! 0.000410347! 0.000129457! [0.000039905! 0.000050836!

02/03/11& 0.000017101! 0.000073937! 0.000277308! 0.000154238! 0.000245944! 0.000036244! 0.000163698! 0.000064345!


36/53

03/03/11& [0.000114759! [0.000003276! 0.000082175! [0.000017746! 0.000097803! 0.000013008! [0.000027890! 0.000067076!

04/03/11& [0.000067598! [0.000035754! [0.000109670! 0.000157699! [0.000084576! 0.000088122! 0.000103695! [0.000021605!

05/03/11& [0.000140580! 0.000245281! [0.000144590! 0.000529638! 0.000196429! 0.000047488! 0.000820661! 0.000021245!

06/03/11& 0.000165737! 0.000201799! 0.000309111! 0.000402657! 0.000248281! 0.000005325! 0.000472254! 0.000117037!

07/03/11& [0.000021177! 0.000282218! [0.000029548! 0.000883265! 0.000690941! [0.000204583! 0.001245078! 0.000116817!

08/03/11& 0.000075593! 0.000065927! 0.000055451! 0.000058122! 0.000027228! 0.000012679! 0.000010433! 0.000113557!

09/03/11& 0.000174942! 0.000014840! 0.000048248! 0.000446252! [0.000068738! 0.000087295! [0.000034548! 0.000044907!

10/03/11& 0.000224616! [0.000030731! 0.000075166! 0.000049552! 0.000140453! 0.000203157! [0.000071465! 0.000192040!

11/03/11& 0.000066240! 0.000045230! 0.000038621! [0.000029823! 0.000066685! 0.000024728! [0.000004584! 0.000016267!

12/03/11& 0.000458826! 0.000325294! 0.000460132! 0.000116264! 0.000407614! 0.000521858! 0.000435557! 0.000195317!

13/03/11& [0.000114670! 0.001067834! 0.000207185! 0.000888665! 0.001547882! 0.000052124! 0.000031731! 0.000873565!

14/03/11& 0.000337675! 0.000121376! [0.000034865! 0.000033081! 0.000057055! 0.000022564! 0.000097979! 0.000086168!

15/03/11& 0.000359105! 0.000023883! 0.000049958! 0.000200007! 0.000477343! 0.000042110! [0.000072308! [0.000053102!

16/03/11& [0.000023735! [0.000038854! 0.000294972! [0.000079377! 0.000105429! 0.000323488! 0.000125381! 0.000048450!

17/03/11& 0.000007869! [0.000058417! [0.000065187! [0.000016123! 0.000071949! [0.000046717! 0.000020170! 0.000020001!

18/03/11& [0.000128934! [0.000340007! [0.000263317! 0.000087615! 0.000010960! 0.000109996! 0.000115684! 0.000138912!

19/03/11& 0.000020781! [0.000091947! [0.000029914! [0.000046338! 0.000010697! 0.000029734! 0.000039432! [0.000002435!20/03/11& 0.000220224! 0.000158108! 0.000062373! [0.000282027! 0.000344213! 0.000027623! 0.000078403! [0.000001381!

21/03/11& 0.000623419! 0.000663339! 0.000624976! 0.000758891! 0.000694054! 0.000429301! 0.000298594! 0.000173601!

22/03/11& 0.000108399! 0.000598227! [0.000015485! 0.000484578! 0.000589289! 0.000600005! 0.000310950! 0.000291567!

23/03/11& 0.000594089! [0.000815798! [0.000590358! 0.000792052! [0.000511574! 0.000817243! 0.000847264! 0.000238289!

24/03/11& 0.000683445! [0.000077134! 0.000527407! 0.000517124! [0.000214925! 0.000353577! 0.000214032! 0.000444751!

25/03/11& 0.000147638! 0.000936421! [0.000337626! 0.000302095! 0.000902962! 0.000297739! 0.000215600! 0.000123690!

26/03/11& 0.000849632! [0.000501728! 0.000503696! 0.001000989! [0.000650594! 0.000234330! 0.001014717! 0.000298074!

27/03/11& 0.000330357! [0.000273816! 0.000260266! 0.000267056! [0.000191703! 0.000467809! 0.000900359! 0.000064423!

28/03/11& 0.000135790! 0.000098098! 0.000203289! 0.000115644! [0.000205991! 0.000144250! [0.000089325! [0.000028844!

29/03/11& 0.000052112! [0.000016824! 0.000042529! 0.000034898! [0.000078120! [0.000009885! 0.000034936! 0.000022262!

30/03/11& 0.000013357! [0.000060748! 0.000004674! 0.000200545! [0.000084748! [0.000020627! 0.000204936! 0.000013563!

31/03/11& 0.000261954! 0.000033650! 0.000153981! 0.000049932! 0.000114090! 0.000024454! [0.000021683! [0.000058611!

01/04/11& 0.000184584! 0.000263459! 0.000267279! 0.000130431! 0.000195918! 0.000177544! 0.000174878! 0.000070440!

02/04/11& 0.000167736! [0.000169957! 0.000178655! 0.000239372! [0.000179796! 0.000059530! 0.000295366! 0.000176226!

03/04/11& [0.000684306! [0.000038730! 0.000048355! 0.000037898! [0.000032446! 0.000031759! 0.000046678! [0.000006437! After!Event!


37/53

04/04/11& [0.000027226! 0.000025929! 0.000033730! 0.000043375! 0.000002392! 0.000013242! 0.000012771! 0.000018210!

05/04/11& [0.000392522! [0.000192094! 0.000260555! [0.000001481! [0.000128091! [0 .000138783 ! 0.000030324! [0.000194955!

06/04/11& 0.000394423! 0.000406576! [0.000212898! [0.000199901! 0.000184079! [0.000090224! 0.000500986! 0.000306321!

07/04/11& 0.000007639! [0.000009450! [0.000076831! [0.000034502! 0.000006960! [0 .000019007 ! [0.000070136! [0.000078946!

08/04/11& 0.000124958! 0.000166518! [0.000002191! 0.000011271! 0.000115677! 0.000047733! 0.000044660! 0.000166679!

09/04/11& 0.000356391! 0.000235006! 0.000130464! 0.000157388! 0.000229891! 0.000067545! [0.000103339! [0.000139228!

10/04/11& [0.000058400! [0.000039713! [0.000112513! [0.000101170! [0.000035911! [0 .000006573 ! [0.000051598! [0.000075459!

11/04/11& [0.000029830! [0.000056466! 0.000050923! [0.000045705! [0.000022084! [0.000052180! 0.000025855! 0.000008783!

12/04/11& 0.000061104! 0.000167706! [0.000076118! [0.000236743! 0.000115031! 0.000084190! [0.000066509! [0.000008248!

13/04/11& 0.000379637! 0.000330475! 0.000268527! [0.000035330! 0.000431785! 0.000145526! 0.000204775! [0.000054161!

14/04/11& 0.000469602! 0.000211704! [0.000715246! [0.000467290! 0.000232877! [0 .000368525 ! [0.000412392! [0.000397817!

15/04/11& [0.000264415! [0.000120455! [0.000521238! [0.000160674! [0.000183474! 0 .000168697 ! [0.000223059! [0.000101301!

16/04/11& [0.000016147! [0.000006861! 0.000008357! 0.000025048! [0.000013309! [0 .000000531 ! [0.000008288! [0.000004646!

17/04/11& 0.000657055! 0.000677202! 0.000120045! [0.000433614! 0.000697829! 0.000371600! 0.000259724! [0.000013039!

18/04/11& [0.000052659! 0.000015169! [0.000144871! 0.000106407! [0.000063545! [0 .000091856 ! [0.000106343! [0.000100273!

19/04/11& [0.000083618! [0.000093300! 0.000061816! 0.000004307! [0.000048407! [0.000013987! 0.000118084! [0.000024127!

20/04/11& 0.001173214! 0.001153786! [0.000509067! [0.000282412! 0.000821617! 0.000027533! [0.000480353! 0.000056356!21/04/11& [0.000004137! 0.000000375! [0.000021668! [0.000020832! [0.000005457! [0 .000001266 ! [0.000015371! [0.000003943!

22/04/11& 0.000409071! 0.001044720! [0.000112857! [0.000045778! 0.000482431! [0.000765679! [0.000413376! 0.000185957!

23/04/11& 0.001334857! 0.002375272! 0.001204254! 0.001046046! 0.001541989! 0.000662066! 0.000638028! 0.000186165!

24/04/11& 0.000132573! [0.000187637! [0.000686993! [0.000720698! 0.000095176! [0 .000479693 ! [0.001102359! [0.000395517!

25/04/11& 0.000092582! 0.000013038! 0.000061742! 0.000000460! 0.000073890! 0.000021731! [0.000025294! 0.000053049!

(

!

!!

!

Date& Samorita!Hospital!Lafarge!Surma!

Cement!GPH!Ispat!

United!

Leasing!

Daffodil!

Computers!

Dhaka!

Insurance!

Fu!Wang!

Ceramics!Jute!Spinners! BATBC!

!

09/02/11& 0.000470718! [0.000054591! 0.000021823! [0.000014652! [0.000143684! [0.000217342! [0.000019535! 0.000035165! 0.000043750!

Before!Event!10/02/11& 0.000002651! 0.000000080! [0.000000509! 0.000000218! 0.000000067! 0.000000404! 0.000000088! 0.000000149! [0.000000055!

11/02/11& [0.000210355! 0.000007951! [ 0.000088345! [0.000112217! [0.000081263! [0.000103487! [ 0.000016698! [0.000141792! 0.000123798!

12/02/11& [0.000789967! [0.000059111! 0.000264883! 0.000396738! 0.000609746! 0.000001819! 0.000446297! [0.000145243! 0.000055851!


38/53

13/02/11& 0.000015989! [0.000000528! 0.000014804! 0.000022453! 0.000030738! 0.000010163! 0.000029661! 0.000015603! [0.000003782!

14/02/11& [0.000090418! 0.000016244! [ 0.000010963! [0.000017417! [0.000194046! [0.000015605! [ 0.000123143! [0.000094188! [0.000063136!

15/02/11& 0.002548788! 0.000957412! 0.001251019! 0.001648259! 0.002320505! 0.001846910! 0.002183046! 0.001936495! 0.001557536!

16/02/11& [0.000278912! 0.000600976! 0.000152721! [0.000247555! 0.000704294! 0.000068147! 0.000251359! [0.000070879! 0.000642814!

17/02/11& [0.000070108! 0.000036383! 0.000059595! 0.000078553! [0.000339560! 0.000023362! 0.000126919! 0.000200025! 0.000299483!

18/02/11& 0.000015519! 0.000006649! 0.000010162! 0.000000000! 0.000002053! [0.000001953! 0.000006649! 0.000009211! [0.000000790!

19/02/11& 0.000078387! 0.000036738! 0.000081277! 0.000000000! 0.000074228! 0.000085174! 0.000068250! 0.000015558! [0.000055816!

During!Event!

20/02/11& 0.000241999! 0.000087776! 0.000261823! 0.000220265! 0.000499052! 0.000227132! 0.000273085! 0.000357852! 0.000285222!

21/02/11& [0.000019116! [0.000002743! 0.000000648! [0.000002872! [0.000013812! [0.000024899! [ 0.000021354! [0.000003135! [0.000012248!

22/02/11& 0.000254379! 0.000006420! 0.000179286! 0.000054750! 0.000161288! 0.000119709! 0.000082382! 0.000303654! 0.000218954!

23/02/11& 0.000025578! [0.000032965! [0.000028941! 0.000049304! [0.000042613! 0.000085421! 0.000075091! 0.000135040! [0.000006018!

24/02/11& [0.000000387! 0.000051364! 0.000011643! 0.000006010! [0.000057988! 0.000065056! 0.000031822! 0.000060761! 0.000167798!

25/02/11& 0.000008453! [0.000002474! 0.000005406! 0.000003666! 0.000011808! 0.000000702! [0.000003363! 0.000006367! 0.000005775!

26/02/11& [0.000066411! 0.000053203! 0.000094853! 0.000057017! 0.000067730! 0.000133456! 0.000545460! 0.000002160! [0.000067077!

27/02/11& 0.000174475! 0.000052757! 0.000086931! 0.000147483! 0.000046688! 0.000190089! 0.000078472! 0.000046484! 0.000136999!

28/02/11& 0.000212184! 0.000061519! 0.000154680! 0.000268824! 0.000336354! 0.000206235! 0.000195804! 0.000160524! 0.000214778!

01/03/11& [0.000173843! [0.000077455! 0.000099597! 0.000033248! [0.000131174! [0.000066644! 0.000034892! [0.000036912! [0.000048981!

02/03/11& 0.000115739! 0.000024825! 0.000053170! 0.000251772! 0.000112382! 0.000134546! 0.000339043! 0.000094823! 0.000163634!

03/03/11& 0.000035439! [0.000008599! 0.000057479! 0.000035159! [0.000013081! [0.000126354! 0.000035127! 0.000035862! [0.000093446!

04/03/11& [0.000057561! [0.000017689! [ 0.000015857! 0.000076850! [0.000068367! [0.000081260! [ 0.000077389! [0.000033379! 0.000138054!

05/03/11& 0.000105776! 0.000008311! 0.000216325! 0.000690898! [0.000044904! [0.000031929! 0.000066777! [0.000010027! [0.000017093!

06/03/11& 0.000193194! 0.000059313! 0.000186831! 0.000228657! 0.000123090! 0.000293394! 0.000365367! 0.000072316! [0.000046833!

07/03/11& 0.000213832! 0.000424858! 0.000496725! 0.000090387! [0.000005391! 0.001486210! 0.000395537! 0.000136181! 0.000038787!

08/03/11& 0.000102913! 0.000059587! 0.000077302! [0.000016861! 0.000110003! 0.000014198! [0.000017599! 0.000098656! 0.000033287!

09/03/11& [0.000087242! 0.000051010! [0.000071558! 0.000420110! [0.000002270! 0.000075815! [0.000086805! 0.000436687! [0.000090908!

10/03/11& [0.000101058! 0.000129547! 0.000018246! 0.000346333! [0.000015700! 0.000091086! 0.000091076! [0.000026350! [0.000050264!


39/53

11/03/11& 0.000033923! [0.000012365! 0.000025062! 0.000037146! 0.000044826! 0.000032238! 0.000089210! [0.000043102! 0.000035880!

12/03/11& 0.000320631! 0.000352014! 0.000352133! 0.000501886! 0.000337354! 0.000488892! 0.000256520! 0.000122741! 0.000239942!

13/03/11& 0.000077709! 0.000195318! 0.000128464! 0.000384046! 0.000197197! 0.000190379! 0.000780659! [0.000011343! 0.000128028!

14/03/11& [0.000017663! [0.000016715! 0.000033779! [0.000069096! 0.000039888! 0.000005397! [0.000007836! 0.000041099! [0.000021529!

15/03/11& [0.000076586! [0.000052876! [ 0.000060776! 0.000075066! 0.000413665! [0.000061791! [ 0.000026471! [0.000023996! [0.000052525!

16/03/11& 0.000416502! [0.000178162! 0.000005033! 0.000097486! 0.000111876! 0.000113226! 0.000102955! [0.000045845! [0.000004591!

17/03/11& [0.000063043! 0.000001905! 0.000029423! 0.000045907! 0.000012086! 0.000019979! 0.000109070! [0.000004111! 0.000012110!

18/03/11& 0.000196717! 0.000013579! 0.000112232! 0.000090378! 0.000130700! 0.000055109! 0.000146052! 0.000041050! 0.000093176!

19/03/11& [0.000006091! 0.000002812! 0.000017378! 0.000001513! [0.000019437! 0.000037671! 0.000014824! 0.000038049! [0.000003857!

20/03/11& [0.000114841! [0.000028230! [ 0.000210083! [0.000050926! [0.000339896! [0.000032028! [ 0.000030708! 0.000009355! [0.000008534!

21/03/11& [0.000382189! 0.000290712! 0.000188536! 0.000625066! 0.000900694! 0.001055833! 0.000545996! [0.000011386! 0.000062893!

22/03/11& 0.000497130! 0.000037923! 0.000263046! 0.000462544! 0.000417601! 0.000693566! 0.000284440! 0.000306264! 0.000214666!

23/03/11& 0.000948300! [0.000020955! 0.000664296! 0.000838589! 0.001011577! 0.000265196! 0.000732453! 0.000655515! 0.000750334!

24/03/11& 0.000493567! [0.000022952! 0.000151101! 0.000317119! 0.000863906! 0.000726983! 0.000496339! 0.000790693! 0.000123105!

25/03/11& 0.000265016! [0.000051989! 0.000321406! 0.000015428! 0.000126705! [0.000087593! [0.000067701! 0.000318665! 0.000597656!

26/03/11& 0.000712275! 0.000153758! 0.000473046! 0.000357309! 0.001090314! 0.000968134! 0.000846832! 0.000293806! 0.000565924!

27/03/11& 0.000467353! 0.000053058! 0.000150363! 0.000801230! 0.000605934! 0.000368553! 0.000194067! 0.000104090! 0.000459012!

28/03/11& 0.000110314! 0.000023192! 0.000071044! 0.000148010! 0.000102280! 0.000130585! 0.000101479! [0.000026060! 0.000046382!

29/03/11& 0.000003133! 0.000010220! 0.000015848! 0.000040675! 0.000021584! 0.000021031! 0.000016768! 0.000018120! 0.000031791!

30/03/11& 0.000111877! 0.000031479! 0.000058593! 0.000031246! 0.000110700! [0.000037276! 0.000095640! 0.000080616! 0.000082837!

31/03/11& 0.000009645! 0.000020262! 0.000009825! 0.000114803! 0.000348585! [0.000056794! 0.000051364! [0.000015604! 0.000129997!

01/04/11& 0.000207694! 0.000026579! 0.000191388! [0.000045408! 0.000402775! 0.000102030! 0.000205012! 0.000113131! 0.000173131!

02/04/11& 0.000148723! 0.000032814! 0.000212973! 0.000000000! 0.000155753! 0.000037867! 0.000151338! 0.000125151! 0.000563432!

03/04/11& 0.000023017! 0.000001068! 0.000021113! 0.000082877! 0.000066184! 0.000024832! 0.000043304! 0.000018079! 0.000047271!

After!Event!04/04/11& 0.000046676! [0.000000644! 0.000025171! 0.000030472! 0.000022302! 0.000024938! 0.000027293! 0.000013879! [0.000023261!

05/04/11& [0.000409065! 0.000015840! [0.000198767! [0.000280164! [0.000128708! 0.000131560! [0.000166968! 0.000062530! [0.000097091!


40/53

06/04/11& 0.000557784! 0.000106045! 0.000463451! [0.000101629! [0.000120084! [0.000123420! [0.000135024! 0.000551276! 0.000503233!

07/04/11& [0.000086564! [0.000028156! [ 0.000053776! 0.000289790! [0.000114183! [0.000060849! [ 0.000101123! [0.000050745! [0.000101417!

08/04/11& 0.000100209! 0.000039104! 0.000070299! 0.000606802! 0.000154248! [0.000077037! 0.000028575! 0.000031373! 0.000062404!

09/04/11& 0.000249477! 0.000076775! 0.000104658! 0.000219275! 0.000172213! 0.000201795! 0.000202518! 0.000065831! 0.000080879!

10/04/11& [0.000048032! 0.000018331! [ 0.000004761! [0.000084143! [0.000069487! [0.000005985! [ 0.000003475! [0.000095276! [0.000117484!

11/04/11& [0.000010422! 0.000003654! 0.000010874! [0.000011522! 0.000034848! [0.000015509! 0.000026481! 0.000019046! 0.000011586!

12/04/11& [0.000054130! [0.000026430! [0.000011663! 0.000131226! [0.000201558! 0.000167286! [0.000052564! [0.000045389! 0.000103349!

13/04/11& 0.000283787! 0.000080591! 0.000128801! 0.000423838! 0.000279675! 0.000203699! 0.000153207! 0.000154368! 0.000298920!

14/04/11& [0.000480211! [0.000065608! [ 0.000446218! 0.000317303! [0.000593520! [0.000310572! [ 0.000321557! [0.000538305! 0.000438513!

15/04/11& [0.000180042! [0.000071900! [ 0.000180202! 0.000076824! [0.000155341! [0.000004472! [ 0.000316165! [0.000410199! 0.000089342!

16/04/11& [0.000001614! [0.000000887! 0.000002792! 0.000001918! 0.000015052! 0.000005609! 0.000004026! [0.000011166! [0.000007210!

17/04/11& 0.000128189! 0.000164109! 0.000293147! 0.000605150! 0.000303109

Portfolio Event Studies- ZR 09, 10, 26, 70 (Consolidated)

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Transcript of Portfolio Event Studies- ZR 09, 10, 26, 70 (Consolidated)