Dhaka stocks rebound riding on GP earning report

Staff Correspondent | Published: 23:11, Jul 13,2017 | Updated: 00:36, Jul 14,2017


Dhaka stocks rebounded on Thursday with the DSE’s key index hitting fresh high as some large capitalised scrips especially Grameenphone shone amid investors’ optimistic purchasing.
DSEX, the key index of the Dhaka Stock Exchange, gained 0.76 per cent, or 44.07 points, to close at 5,834.86 points on Thursday after losing 39.98 points in the previous session.
The DSEX continued to hit all-time high record on Thursday after setting the record on Tuesday.
Stockbrokers said the market came back to the positive zone as share prices of two-thirds of the traded scrips increased while a surge in the share prices of Grameenphone contributed most to the recovery on the day.
The mobile operator declared its half-yearly performance with a 35.4-per cent increase in its earnings per share year-on-year compared with that in the same period in the previous year that pulled many investors to the company’s shares, they said.
As a result, the company surged by 4.9 per cent and led the turnover chart on the day.
On the other hand, the recent surge in the share prices instigated a section of investors to inject fresh fund into the market, stockbrokers said.
Ridding on the investors’ optimistic share purchasing, the average share prices of all the sectors except two (pharmaceuticals and life insurance) increased.
‘The early part of the session again experienced downward vibe mainly due to selling pressures on small cap stocks before taking off towards higher points,’ said EBL Securities in its daily market report.
On the other hand, the share prices of food and allied sector increased on the day as food inflation surged in the fourth quarter of last fiscal year, it observed.
Besides Grameenphone, the share prices of British American Tobacco and United Power Generation increased most on the day.
The turnover on the DSE increased to Tk 1,009.32 crore from that of Tk 914.28 crore in the previous trading session.
DS30, the blue-chip index of the DSE, added 0.70 per cent, or 14.84 points, to close at 2,131.16 points.
The Shariah index, DSES, gained 0.78 per cent, or 10.30 points, to finish at 1,326.99 points.
Of the 330 companies and mutual funds traded, 210 advanced, 70 declined and 50 remained unchanged.
Grameenphone led the turnover chart with its shares worth Tk 65.60 crore changing hands.
Keya Cosmetics, IFAD Autos, United Power Generation Company, Generation Next Fashions, Doreen Power, Daffodil Computers, Agni Systems, Fu Wang Foods and Bangladesh Export Import Company were the other turnover leaders.
Fu Wang Foods gained the most with a 9.73-per cent increase in its share price, while Agrani Insurance was the worst loser, shedding 4.24 per cent. 

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