Stocks bounce back after profit booking
Stocks returned to the black after a tendency towards profit booking prevailed for two days which buoyed investors into continuing their investments.
The DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), rose 38 points, or 0.71 per cent, to close at 5,461 yesterday.
An increased participation from big investors boosted confidence of general investors leading 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.
Profit booking enhances the strength of a market, he added.
Yesterday, Marico Bangladesh posted its profit results for the year ending on March 31 of 2021.
Marico's earnings per share rose 17 per cent to Tk 98.69 last year from Tk 84.01 a year earlier.
It also finally declared 200 per cent cash dividend, so its total dividend for the year stood at 900 per cent of which a 700 per cent interim dividend has been already paid to shareholders.
Meanwhile, Islami Bank Bangladesh declared that it would issue a Second Perpetual Bond worth Tk 800 crore.
The DSE's turnover, an important indicator of the market, rose 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.
Among 238 stocks to witness trade, 119 rose, 79 fell and 40 remained unchanged, shows the CSE data.