BRAC Bank, MNCs help stocks end losing streak

Staff Correspondent | Published: 00:00, Mar 15,2019

 
 

Dhaka stocks edged up on Thursday despite a fall in share prices of more than two-thirds of the traded scrips as investors went for buying shares of sector-specific large capitalised companies including BRAC Bank and multinational companies.
DSEX, the key index of Dhaka Stock Exchange, added 0.04 per cent, or 2.60 points, to close at 5,655.81 points on Thursday after losing 57 points in the previous three sessions.
The market opened with bullish vive gaining 40 points within half an hour of the day’s session, but failed to keep the momentum and finished the session with a slight gain, market operators said.
They said investors increased buying shares of a number of multinational companies and BRAC Bank that lifted the market on the day.
The share prices of British American Tobacco soared by 4.65 per cent on the day as the company declared 500 per cent cash and 200 per cent stock dividend for 2018.
A surge in share prices of Grameenphone, Berger Paints Bangladesh and LafargeHolcim Bangladesh contributed most to the index.
The average share prices of food, bank, pharmaceutical and telecommunication sectors advanced by 3.06 per cent, 0.58 per cent, 0.57 per cent and 0.22 per cent respectively. A surge in share prices of BRAC Bank (5 per cent) lifted the bank sector on the day.
The overall scenario at the market was dull with a decline in share prices of more than two-thirds of the traded scrips and poor particiipation of investors as most the investors remained confused over the recent market trend, market operators said.
They said many investors remained on the sidelines to see the next move of the market.
The financial companies will soon declare dividends and earnings.
Besides, a section of investors were cautious as the financial sector had been going through a tough time due to fund shortage.
Therefore, the turnover on the bourse plunged to Tk 585 crore on Thursday from Tk 708.12 crore in the previous trading session.
The average share prices of general insurance, textile and engineering sectors dropped by 3.12 per cent, 1.35 per cent and 1.00 per cent respectively.
Out of the 345 issues traded on the day, 231 declined, 77 advanced and 39 remained unchanged.
DSE blue-chip index DS30 advanced by 0.90 per cent, or 18.17 points, to close at 2,023.66 points.
Shariah index DSES increased by 0.04 per cent, or 0.63 points, to finish at 1,292.83 points.
BATBC led the turnover leaders with its shares worth Tk 53.69 crore changing hands on the day.
BRAC Bank, United Power Generation Company, Dutch-Bangla Bank, Monno Ceramics, Square Pharmaceutical, Singer Bangladesh, Bata Shoe, Mercantile Insurance Company and Bangladesh Submarine Cable Company were the other turnover leaders.
Prime Finance First Mutual Fund gained the most on the day with an 8.42-per cent increase in its share prices while Reliance Insuracne was the worst loser, shedding 10.33 per cent.

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