The Financial Express

Dhaka, Chittagong bourses keep gaining as some cos declare sound dividend

| Updated: October 29, 2017 15:48:10

Stocks extend gaining streak

Stocks extended the gaining streak Thursday as some listed companies declared hefty dividend which prompted investors to take fresh stake.

Dealers said the market stayed positive amid increasing turnover as optimistic investors took position on selective issues amid ongoing earnings and dividend declaration session.

After crossing the 6,000-mark on the previous day, Dhaka Stock Exchange (DSE) and Chittagong Stock Exchange (CSE) opened higher amid increasing trading activities.

Within first hour of trading, DSEX advanced nearly 27 points while the Selective Category Index of the port city bourse rose 34 points at 11:30am.

The market saw some sale pressure in the mid-session, but last hour bounce helped DSEX to close more than 16 points higher.

DSEX, prime index of DSE, which was renamed DGEN four and a half years back, settled at 6,018, advancing 16.73 points or 0.28 per cent over the previous session.

However, two other indices closed in the red. Of them, DS30 index, comprising blue chips, fell 7.99 points or 0.36 per cent to close at 2,174, and DSE Shariah Index (DSES) lost 7.41 points or 0.56 per cent to finish at 1,316.

Turnover, an important indicator of the market, stood at Tk 6.63 billion, which was 13.7 per cent higher than the previous day’s turnover of Tk 5.83 billion.

A total number of 0.138 million trades were executed in the day’s trading session with trading volume of 147.61 million securities.

Total market capitalisation of the DSE stood at Tk 4,100 billion which was Tk 4,090 billion in the previous trading session.

Gainers took a modest lead over the losers as out of 330 issues traded, 146 closed higher, 143 closed lower and 41 remained unchanged on the top trading floor.

Gemeni Sea Food topped the day’s turnover chart with 323,793 shares of Tk 327 million changing hands, closely followed by Brac Bank, IDLC Finance, LankaBangla Finance and City Bank.

Gemeni Sea Food was also the day’s best performer, posting a gain of 66 per cent following its hefty 125 per cent stock dividend declaration and expansion of business plans.

Zeal Bangla Sugar Mills was the day’s worst loser, plunging by 11.36 per cent as the company recommended no dividend for the year ended on June 30, 2017.

Port city bourse CSE also edged higher with its Selective Categories Index - CSCX –advancing 9.15 points to close at 11,240. 

Losers beat gainers as 113 issues closed lower, 98 closed higher and 26 remained unchanged on the port city bourse with trading of 12.83 million shares and mutual fund units worth Tk 450 million.

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