Dhaka stocks decline

Staff Correspondent | Published: 22:01, Jan 24,2021

 
 

Dhaka stocks dropped on Sunday after a rise in the previous three sessions as investors went for booking some profits while BEXIMCO and Beximco Pharmaceuticals soared over a Beximco Pharmaceuticals’ initiative to buy the majority stake of Sanofi Bangladesh.

DSEX, the key index of Dhaka Stock Exchange, lost 0.35 per cent, or 20.63 points, to close at 5,815.54 points on Sunday after gaining 35 points in the previous three sessions.

The key index started falling from the very beginning of Sunday’s session and maintained the vibe until the end of the session as investors went for selling shares to book profits, market operators said.

The DSEX had gained around 1,000 points in the last two months thanks to an upward trend on the market.

Share prices of 23 companies out of the 30 large capitalised companies under the DS30 index dropped on Sunday after their recent gains.

However, a surge in share prices of BEXIMCO, Beximco Pharmaceuticals and Square Pharmaceuticals by 6.7 per cent, 5.15 per cent and 0.26 per cent respectively kept the DS30 index afloat and saved the market from a significant fall.

DS30, a composition of 30 large capitalised companies, added 0.07 per cent, or 1.74 points, to close at 2,210.19 points on the day.

Beximco companies soared on Sunday as the media reported on January 21 that Beximco Pharmaceuticals would acquire 54.6 per cent or 19,63,241 shares of Sanofi Bangladesh Limited, a global biopharmaceutical company, for about Tk 412.86 crore within nine months.

Share prices of Grameenphone, LankaBangla Finance, BRAC Bank and LafargeHolcim Bangladesh dropped on Sunday.

The insurance sector rebounded on Sunday after a fall in the previous two sessions.

The insurance sector advanced as the Insurance Development and Regulatory Authority on January 17 asked listed and non-listed insurance companies to comply with rules by raising shareholdings by their sponsors to 60 per cent in their respective companies and the companies’ minimum paid-up capital to Tk 30-40 crore within one month.

Share prices of Energypac Power Generation Limited, which made its debut on Tuesday, rose by 9.92 per cent, maximum limit allowed, to close at Tk 84.2 a share on Sunday.

Average share prices of non-bank financial institution, engineering, bank and energy sectors dropped by 1.87 per cent, 1.71 per cent, 1.64 per cent and 0.6 per cent respectively.

Share prices of miscellaneous, general insurance and pharmaceutical sectors advanced on the day.

Turnover on the DSE increased to Tk 1,458.26 crore on Sunday compared with that of Tk 1,213.45 crore in the previous session.

Of the 360 scrips traded on the DSE on Sunday, 202 declined, 79 and 78 remained unchanged.

Shariah index DSES also increased by 0.2 per cent, or 2.68 points, to settle at 1,297.33 points.

Beximco Pharmaceuticals led the turnover chart with its shares worth Tk 259.71 crore changing hands on the day.

Bangladesh Export Import Company, LankaBangla Finance, Robi Axiata, Summit Power, City Bank, Baraka Power, GBB Power, LafargeHolcim Bangladesh and Square Pharmaceuticals were the other turnover leaders on the day.

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