Stocks
Stocks inch up after choppy trading
Stocks closed marginally higher Wednesday, after a three-day losing streak, as bargain hunters showed their buying interest on selective issues.
The market opened on a positive trend and the key index of the premier bourse rose 30 points in the first half of the trading session. But, selling pressures at the last moment wiped out most of the early gains.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), finally went up by 7.34 points or 0.11pc to settle at 6,496, after losing almost 75 points in the past three days.
Turnover, a crucial indicator of the market, dropped to Tk 14.84 billion on the premier bourse, which was 0.67pc lower than the previous day’s tally of Tk 14.94 billion.
Two most-traded firms Beximco and Orion Pharma jointly captured almost 21pc of the day’s total turnover.
Market operators said the market witnessed high volatility as investors were active on both sides of the trading fence.
The bargain hunters showed their buying interest on selective issues after the three days’ fall, said the stockbroker.
Despite the bullish trend in the morning session, the stocks went down after the mid-session due to the sale pressures of cautious investors, he said.
Most of the traded issues, however, remained unchanged due to the ‘floor price’ restriction and over 150 companies did not find buyers.
Of the 371 issues traded, 114 declined, 71 advanced and 186 others remained unchanged on the DSE trading floor.
Two other indices edged higher. The DS30 index, comprising blue chips, gained 6.72 points to 2,323 and the DSE Shariah Index (DSES) rose 2.16 points to 1,415.
Beximco became the most-traded stock with shares worth Tk 1.57 billion changing hands, closely followed by Orion Pharma (Tk 1.49 billion).
Eastern Cables was the day’s top gainer, soaring 9.95pc while Desh General Insurance Company was the worst loser, losing 5.34pc.
The Chittagong Stock Exchange (CSE) also edged higher with the CSE All Share Price Index (CASPI) rising 16 points to settle at 19,180 and its Selective Categories Index (CSCX) gaining 10 points to close at 11,496.
Of the issues traded, 80 declined, 55 advanced and 111 issues remained unchanged.
The port-city bourse traded 36.32 million shares and mutual fund units with a turnover value of Tk 1.01 billion.
Dhaka Stock Market DSE, Bourse on the second working day of the week, 30th September, ended with a negative performance in Indices and a hike in Turnover from the previous working session. This information is known from DSE sources.
503 crore 90 lakh taka shares were traded on this day. 22 crore 58 lakh more tradings were done in DSE today compared to the previous workday, 29th September, Shares worth Tk 481 crores 31 lakh shares were traded last time, Sunday.
The benchmark DSEX lost 33.61 points or 5,624 The Shariah-based index DSES dropped 7.36 point or 1,263 and the blue-chip index DS30 decreased by 9.57 points or 2,053.
Of the issues traded, 72 advanced, 299 declined and 25 remained unchanged.
Shahjibazar Power Company Limited ranked top gainer on DSE, the share price increased by Tk 4.00 paisa or 9.76 percent. On this day, the share was last traded at Tk 45.00 paisa.
Dhaka Electric Supply Company Limited ranked top loser on the DSE, the share price dropped by Tk 1.80 paisa or 7.56 percent. On this day, the share was last traded at Tk 22.00 paisa.
DSE topped on trade is Pragati Life Insurance Limited 25 crore 35 lakh takas of company shares have been traded.
A total of 27 companies’ shares were traded in the Block on Dhaka Stock Exchange. A total of 1 crore 50 lakh 42 thousand 956 shares of the companies were traded. The financial value of which is 65 crore 60 lakh taka
One of the Listed companies, National Polymer Limited has recommended 10.50% Cash Dividend for the year ended June 30, 2024.
It has reported Consolidated EPS of Tk 2.27 paisa, and Consolidated NAV per share of Tk 30.63 for the year ended March 31, 2024.
The Annual General Meeting (AGM) of the company will be held on December 18, through the digital platform. The record date for this has been fixed at October 22.
The Company also discloses its financial reports for the second quarter, (April – June 24).
As per the company’s consolidated life revenue account for April to June 2024, the excess of total income over total expenses, including claims (surplus), stood at Tk 1,394.24 million. This marks a significant increase from the surplus of Tk 823.68 million during the same period in 2023.
For the first half of 2024, from January to June, the company reported a surplus of Tk 2,177.57 million, compared to Tk 1,290.39 million in the corresponding period of the previous year.
Additionally, the Life Insurance Fund balance as of June 30, 2024, reached Tk 55,188.62 million, showing a net increase of Tk 5,892.25 million from Tk 49,296.37 million on June 30, 2023.
One of the Listed companies, Beacon Pharmaceuticals PLC has recommended 20% Cash dividend and 10% Cash Dividend to Sponsor Shareholder and Directors for the year ended June 30, 2024.
It has reported EPS of Tk 2.26 paisa, and NAV per share of Tk. 26.37 for the year ended June 30, 2024.
The Annual General Meeting (AGM) of the company will be held on December 23, through the digital platform. The record date for this has been fixed at October 27.
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