Low-performers top DSE gainers’ list

Low-performing stocks experienced a price rise at the Dhaka Stock Exchange (DSE) yesterday riding on a rumour that the gamblers are putting money in the securities.

The DSEX, the benchmark index of the bourse, rose 4.42 points, or 0.089 per cent to 4,928.07.

The share of Zeal Bangla Sugar Mills—one of the junk stocks, which has been incurring losses for more than a decade—rose by 10 per cent and topped the gainers' list yesterday.

Moreover, the trading of share of the loss-making state-run company got halted at a stage due to an absence of sellers.

Not only Zeal Bangla, other low-performing B category stocks like Khan Brothers PP Woven Bag Industries, National Feed Mill and Deshbandhu Polymer also made it to the top gainers' list.

B category companies are those that provide dividend less than 10 per cent. A category companies provide more than 10 per cent dividend.

"The stock indices remained almost the same in the last few days but the prices of some junk stocks and low-performing stocks were on the rise due to the rumour," said a stockbroker.

The general investors have many times been asked not to follow such rumour, but none paid heed to the call, the broker added.

Turnover, one of the important indicators of the stock market, hit Tk 881 crore, up from Tk 786 crore on the previous day.

Beximco Pharmaceuticals was the most traded stock with shares worth Tk 80 crore changing hands, followed by Beximco Ltd, SS Steel, Brac Bank, and ADN Telecom.

Of the total 356 traded companies,129 advanced, 139 declined and 87 remained unchanged.

Shinepukur Ceramic fell the most that lost 6.79 per cent followed by Delta Spinners, International Leasing Zahintex Bdand Paramount Textile.

However, the port city bourse plunged 12.09 points or 0.14 per cent yesterday to end the day at 8,496.04.

Of the total 263 traded issues, 106 rose, 104 dropped and 53 remained unchanged.