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Large cap companies having notable impact on key index played a pivotal role behind the rise of broad index which crossed 4000-point mark in five sessions conducted before the closure of DSE.
The share prices of large cap companies including Grameenphone rose ranging between 4.41 per cent and 17.27 per cent in the sessions conducted since March 19 to March 25.
Amid price correction witnessed by most of the small cap companies, the large cap companies witnessed price appreciation and helped the broad index cross 4000-point mark.
On March 18, the DSEX, broad index of Dhaka Stock Exchange, plunged 169 points or 4.46 per cent to settle at 3,603 points, which was the lowest in nearly seven years since May 9, 2013.
The DSEX plunged notably on March 18 amid the fear over coronavirus outbreak.
Later, the DSE conducted five sessions till March 25, the day when the core index closed at 4008.28 points with a gain of 11.21 per cent or 404.33 points from the closing mark of March 18.
Of the large cap companies, Square Pharmaceuticals, Renata, British American Tobacco Bangladesh Company (BATBC), BRAC Bank and Grameenphone played significant role behind the rise of the broad index.
According to IDLC Investments, 4.30 points are added to broad DSEX following 1.0 per cent rise in the share price of Square Pharmaceuticals. Similarly, following 1.0 per cent rise in share prices of Renata, BATBC, BRAC Bank and Grameenphone, the DSEX goes up by 1.94 points, 1.90 points, 1.61 points and 1.59 points respectively.
On March 18, the share price of Square Pharmaceuticals closed at Tk 159.50 each. Afterwards, the company’s share price rose 8.15 per cent or Tk 13 and closed at Tk 172.50 each on March 25.
The share price of Renata closed at Tk 1026.20 each on March 25. Earlier, the company’s share price closed at Tk 982.80 each on March 18.
As a result, the share price of Renata advanced 4.41 per cent or Tk 43.40 per share between March 18 and March 25.
The share price of BATBC closed at Tk 828.70 each on March 18.
Later, the company’s share price rose to Tk 907.60 each on March 25 with a rise of 9.52 per cent or Tk 78.90 from the closing price observed on March 18.
On March 25, the share price of BRAC Bank closed at Tk 31.90 each which was Tk 27.20 each on March 18. As a result, the company’s share price rose 17.27 per cent Tk 4.70 during the period.
The share price of Grameenphone closed at Tk 219.50 each on March 18. Later, the company’s share price rose to Tk 238.80 each on March 25 with a rise of 9.0 per cent or Tk 19.30 from the closing price observed on March 18.
Of other large cap companies, the share price of MJL Bangladesh rose 8.47 per cent, United Power Generation & Distribution Company 13 per cent and Berger Paints Bangladesh 6.69 per cent in last five sessions conducted since March 19 to March 25.
(FE)
