The Financial Express

Fortune generates highest turnover

Ten cos account for 26pc transactions on DSE

| Updated: August 04, 2019 16:21:54

Fortune generates highest turnover

Ten most traded companies accounted for 26 per cent of transactions on the Dhaka Stock Exchange (DSE) in the outgoing week, with Fortune Shoes generating the highest turnover.

Market analysts said investors continued to show their appetite for Fortune shares, buoyed by dividend expectations coupled with the export deal signed with New York-based Steve Madden.

On July 19, Fortune Shoes signed an agreement with Steve Madden for export of shoes worth US$ 4.0 million (Tk 340 million), which is scheduled to be shipped by October this year.

According to DSE data, about 22.77 million shares of Fortune Shoes were traded in the outgoing week, generating a turnover of Tk 944 million and contributing 4.29 per cent to the DSE's total turnover.

The total weekly turnover on the DSE stood at Tk 22.02 billion, up from Tk 19.98 billion in the week before.

The shoemaker's share closed at Tk 42.30 on Thursday, the last trading session of the week, advancing 5.75 per cent over the previous week.

The company's share was traded between Tk 27.90 and Tk 42.70 in the last one year.

The company also reported a 35 per cent earnings growth for the January-March quarter of 2019.

The United Power came second on the turnover chart, with shares worth Tk 916 million changing hands. The company's share closed at Tk 383.6, shedding 2.91 per cent over the week before.

The Bangladesh Shipping Corporation clinched the third spot, with shares worth Tk 769 million changing hands. The state-run company's share price soared 8.72 per cent to close at Tk 58.6 each.

The Monno Ceramic emerged fourth with shares worth Tk 711 million changing hands. The company's share closed at Tk 214.2 each, soaring 51.06 per cent week-on-week. It was also the week's highest gainer.

Square Pharma notched the fifth spot, with shares worth Tk 473 million changing hands. The company's share price advanced 0.76 per cent to close at Tk 251.9 each.



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