Stocks see resurgence after booking of profits

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Stocks have experienced a resurgence after a tendency towards profit booking prevailed for 2 days which buoyed investors into continuing their investments.

The benchmark index of the Dhaka Stock Exchange (DSE), the DSEX, increased 38 points, or 0.71 per cent, to close at 5,461 on April 28.

A rising participation from the major investors increased the confidence of general investors which led to a gain for the market.

“The confidence always depends on higher participation from big investors,” said a merchant banker, adding that the market looks pretty good as it bounced back just after two days of profit booking.

He added that the profit booking increases the strength of a market.

On April 28, Marico Bangladesh posted its profit results for the year which concluded on March 31 of 2021. The company’s earnings per share increased 17 per cent to Tk 98.69 in 2020 from Tk 84.01 in 2019.

Marico Bangladesh declared a 200 per cent cash dividend, so the total dividend for the year stood at 900 per cent of which a 700 per cent interim dividend has been already paid to the shareholders.

On the other hand, Islami Bank Bangladesh declared that it would issue a Second Perpetual Bond worth Tk 800 crore.

A crucial indicator of the market, the DSE’s turnover, increased 14 per cent to Tk 940 crore.

Associated Oxygen topped the gainers’ list rising 9.93 per cent followed by City General Insurance Company, Shinepukur Ceramics, Mercantile Insurance Company and Global Insurance.

Stocks of Beximco traded the highest, worth Tk 89 crore, followed by LafargeHolcim Bangladesh, British American Tobacco Bangladesh, Beximco Pharmaceuticals and LankaBangla Finance.

Fareast Finance and Investment shed the most, dropping 5.5 per cent, followed by C&A Textiles, Zeal Bangla Sugar Mills, Keya Cosmetics and Zahintex Industries. At the DSE, 170 stocks advanced, 109 declined and 71 remained unchanged.

The Chittagong Stock Exchange also rose. The CASPI, the general index of the port city bourse, advanced 128 points, or 0.81 per cent, to stand at 15,790.

The CSE data has shown that among 238 stocks to witness trade, 119 rose, 79 fell and 40 remained unchanged.

Stocks have experienced a resurgence after a tendency towards profit booking prevailed for 2 days which buoyed investors into continuing their investments.

The benchmark index of the Dhaka Stock Exchange (DSE), the DSEX, increased 38 points, or 0.71 per cent, to close at 5,461 on April 28.

A rising participation from the major investors increased the confidence of general investors which led to a gain for the market.

“The confidence always depends on higher participation from big investors,” said a merchant banker, adding that the market looks pretty good as it bounced back just after two days of profit booking.

He added that the profit booking increases the strength of a market.

On April 28, Marico Bangladesh posted its profit results for the year which concluded on March 31 of 2021. The company’s earnings per share increased 17 per cent to Tk 98.69 in 2020 from Tk 84.01 in 2019.

Marico Bangladesh declared a 200 per cent cash dividend, so the total dividend for the year stood at 900 per cent of which a 700 per cent interim dividend has been already paid to the shareholders.

On the other hand, Islami Bank Bangladesh declared that it would issue a Second Perpetual Bond worth Tk 800 crore.

A crucial indicator of the market, the DSE’s turnover, increased 14 per cent to Tk 940 crore.

Associated Oxygen topped the gainers’ list rising 9.93 per cent followed by City General Insurance Company, Shinepukur Ceramics, Mercantile Insurance Company and Global Insurance.

Stocks of Beximco traded the highest, worth Tk 89 crore, followed by LafargeHolcim Bangladesh, British American Tobacco Bangladesh, Beximco Pharmaceuticals and LankaBangla Finance.

Fareast Finance and Investment shed the most, dropping 5.5 per cent, followed by C&A Textiles, Zeal Bangla Sugar Mills, Keya Cosmetics and Zahintex Industries. At the DSE, 170 stocks advanced, 109 declined and 71 remained unchanged.

The Chittagong Stock Exchange also rose. The CASPI, the general index of the port city bourse, advanced 128 points, or 0.81 per cent, to stand at 15,790.

The CSE data has shown that among 238 stocks to witness trade, 119 rose, 79 fell and 40 remained unchanged.

Source:

THE DAILY STAR

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