Welcome to Business Outlook
Related Articles
Shares at the Dhaka Stock Exchange (DSE) notched their third straight gain yesterday as investors’ confidence in the market has remained solid.
The DSEX, the benchmark index of the premier bourse, closed 20 points, or 0.29 per cent, higher at 6,862, the highest since its inception in 2013.
Turnover, another important indicator of the market, rose 2.53 per cent to Tk 2,774 crore.
The key index of the exchange is on the rise as investors flocked to the market amid limited business opportunities because of the coronavirus pandemic, lower deposit rates at banks and the lower ceiling on investment in savings certificates.
The deposit rates offered by banks fell drastically after the central bank capped it at 6 per cent in April last year, owing to the huge excess liquidity in the banking system. The DSEX has surged 60 per cent since the pandemic hit the country 17 months ago.
Beximco Ltd was the most-traded stock at the DSE with its shares worth Tk 130 crore changing hands, followed by Powergrid Company, LafargeHolcim, IFIC Bank, LankaBangla Finance, and National Bank.
Padma Life Insurance posted the highest gain of 9.92 per cent. South Bangla Agriculture & Commerce Bank, Janata Insurance, Eastland Insurance, Prime Life Insurance, Shurwid Industries, Sonali Life Insurance, Fortune Shoes, Shahjibazar Power and Intech were among the top gainers.
Stylecraft shed the most at 5.8 per cent. Other worst losers included Miracle Industries, CVO Petrochemical Refinery, Prime Textile, Saif Powertec, Karnaphuli Insurance, Shinepukur Ceramics, First Finance, Bangladesh National Insurance, and Coppertech Industries.
Among the issues, 166 advanced, 183 declined, and 27 ended the day unchanged.
The broader index of the Chattogram Stock Exchange advanced 75 points, or 0.38 per cent, to end the day at 19,996. Of the securities, 154 went up, 146 declined, and 30 were unchanged.
On the day, Sea Pearl Beach Resort & Spa disclosed that its earnings returned to the positive territory in the last fiscal year.
The hotel reported earnings per share of Tk 0.61 in the year that ended on June 30, against a minus Tk 0.09 a year ago. The net asset value rose to Tk 10.63 from Tk 10.06 per share. Net operating cash flows were Tk 2.64 per share in the last financial year versus Tk 2.34 in the preceding year.
The board of Sea Pearl Beach Resort & Spa recommended a 1 per cent cash dividend FY21. Its shares closed 2.79 per cent lower at Tk 41.80 yesterday.
(TDS)
