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The Financial Express

Stocks end lower despite GP share surge

DSEX dips below 4700-mark again


FE Online Report | Published: February 23, 2020 16:23:15 | Updated: February 24, 2020 17:00:25


Stocks end lower despite GP share surge

Stocks closed lower on Sunday despite the heavyweight Grameenphone (GP) shares surged following the news to deposit Tk 10 billion to BTRC.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), settled at 4,698, shedding 34.24 points or 0.72 per cent over the previous day.

Market analysts said investors went on sell-offs on lower than expected dividend declaration by a number of companies on the day, taking the market in the red zone further.

Two other indices also ended in the red. The DS30 index, comprising blue chips, fell 1.04 points to close at 1,591 and the DSES (Shariah) index lost 3.81 points to settle at 1,085.

Turnover, an important indicator of the market, stood at Tk 6.68 billion on the country’s premier bourse, falling further by 13 per cent over previous day’s mark of Tk 7.70 billion.

Losers took a strong lead over the gainers as out of 356 issues traded, 263 closed lower, 70 ended higher and 23 remained unchanged on the DSE trading floor.

A total number of 158,563 trades were executed in the day’s trading session with trading volume of 207.02 million shares and mutual fund units.

The market-cap of the DSE, however, rose to Tk 3,599 billion, from Tk 3,592 billion in the previous session.

Grameenphone (GP) topped the turnover chart with shares worth Tk 470 million changing hands, followed by Orion Pharma, SK Trims & Industries, Summit Power and Orion Infusion.

Orion Infusion was the day’s best performer, posting a gain of 10 per cent while Prime Insurance was the worst loser, losing 22 per cent following its no divided declaration.

The Chittagong Stock Exchange also edged lower with its All Shares Price Index (CASPI)—losing 144 points to close at 14,380 and the Selective Categories Index - CSCX –shedding 85 points to finish at 8,726.

Here too, the losers beat gainers, as 195 issues closed lower, 43 ended higher and 16 remained unchanged on the CSE.

The port city bourse traded 10.79 million shares and mutual fund units worth Tk 233 million in turnover.

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