Stocks inch up, CSE unveils new logo

Stocks inched up higher and the mild increase in turnover continued as DSEX, the benchmark index of Dhaka Stock Exchange, rose 14.48 points or 0.31 percent to close the day at 4,579.72 points.

The market observed another green day as multinational stocks continued to register returns, LankaBangla Securities said.

However, small-cap companies dominated the top gainers' list and the pharmaceutical sector, with 22 percent of the total, accounted for the highest turnover, the stockbroker said.

Turnover rose 1.9 percent to Tk 494.52 crore on transactions of 13.01 crore shares and mutual fund units. IDLC Investments said the bourse advanced marginally with activities throughout the session.

Of the traded issues, 163 advanced and 118 declined as 37 securities finished unchanged on the premier bourse.

Grameenphone dominated the turnover chart with 6.29 lakh shares worth Tk 20.84 crore changing hands, followed by Beximco Pharma, Beximco, ACI and IFAD Autos.

Aramit Cement was the day's best performer, advancing 10 percent, while Standard Ceramic was the worst loser, slumping 8.07 percent.

Chittagong stocks gained with the bourse's benchmark index, CSCX, increasing 50.12 points to 8,597.5.

Gainers beat losers as 128 advanced and 77 declined, while 46 closed unchanged on the Chittagong Stock Exchange, which traded 1.38 crore shares and mutual fund units, generating a turnover of Tk 41.05 crore.

NEW LOGO

The CSE yesterday introduced its new logo with a promise to inspire all listed companies and investors in their working areas.

CSE Chairman Muhammad Abdul Mazid unveiled the logo at the port city bourse's Dhaka office at Eunoos Centre in Dilkusha.

The 'Fibonacci bands' wave was the inspiration behind the new logo. Fibonacci bands are widely used in global stock market to analyse companies' shares.

Fibonacci frequency is called the string of 'magic numbers' that indicate a golden and successful future, and is also an important concept for mathematicians. The new logo aspires to be a reflection of success after all the highs and lows in the lives of shareholders, the CSE said.