Dhaka stocks begin week on bullish note
The Dhaka Stock Exchange (DSE) saw a glowing session yesterday on the week's first trading day that ended with cheer both in turnover and price indices.
The broad index remained positive throughout the day. It gained 52.50 points before closing at 6,167.49.
The growth of index was backed by an increase in market capitalisation of two large sectors of the bourse -- telecom and cement, LankaBangla Securities said in its daily market research.
Among the major sectors, cement, telecom and non-bank financial sectors registered 6.49 percent, 5.16 percent and 1.02 percent gains respectively, according to the market research.
The retail investors were active on the day, which helped in generating a daily turnover of Tk 1,259 crore, 10 percent up from the previous session.
Moreover, two separate declarations of share sale and dividend recommendation respectively from Singer Bangladesh and Summit Power geared up the positive movement of price indices, said market insiders.
Retail Holdings Bhold BV, one of the corporate sponsors of Singer Bangladesh, has expressed its intention to sell 30 lakh shares out of its total holding of 3.23 crore shares of the company at the prevailing market price through stock exchanges within the next 30 working days.
The sale pressure pushed the share price of the company down by Tk 1 each to close at Tk 192.
On the other hand, the board of directors of Summit Power has recommended 30 percent cash dividend for the 18-month period ending on June 30.
The share price of the company gained Tk 0.3 each to close at Tk 42.20 yesterday due to the dividend declaration. A large volume of 70.45 lakh shares were traded yesterday.
At the DSE, 143 securities gained price, 158 declined and 28 remained unchanged yesterday.
Ds30 and DSES were 22.93 points and 20.38 points in the green respectively. LankaBangla topped the turnover list followed by Premier Bank, Square Pharma, NBL, Lafarge Surma and Grameenphone.
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