Stocks rebounded on Monday, snapping a three-day panic-driven big fall, as bargain hunters showed their buying spree on sector-wise issues based on corporate declarations.
The market opened on a sharp decline like the previous two days and the core index of the DSE lost about 60 points within the first hour into the trade. But, the rest of the session went up steadily amid investors’ buying spree on lucrative stocks.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 62.41 points or 1.16 per cent to settle below 5,412, after crashing 183 points in the past three days.
Meanwhile, unlike every debutant in the recent trend, the NRB Commercial Bank failed to attract many investors on its first day trading on Monday despite its profit after tax jumped 539 per cent year-on-year to Tk 1,406.42 million in January-September, 2020.
The bank’s share traded between Tk 11.90 and Tk 15, before closing at Tk 13.20 each, gaining 32 per cent from its offer price of Tk 10. However, its upper limit circuit breaker was 50 per cent as a debutant.
NRBC Bank was the third most traded stock with 32.29 million shares worth Tk 428.55 million changing hands on the DSE.
However, Premier Bank emerged as the day’s top gainer, soaring 9.52 per cent to close at Tk 13.80 each riding on the news that the bank declared a 20 per cent dividend (12.50 per cent cash and 7.50 per cent stock) for the year ended on December 31, 2020.
It was the highest dividend declaration by the Premier Bank in nine years since 2011 when the bank disbursed 22 per cent stock dividend.
The Premier Bank was also the day’s second-highest turnover leader with shares worth Tk 467 million changing hands.
Two other indices also ended higher with the DSE 30 Index, comprising blue chips, gained 32.28 points to finish at 2,066 and the DSE Shariah Index (DSES) rose 9.46 points to close at 1,235.
Turnover, a crucial indicator of the market, also rose to Tk 6.93 billion, which was 12.68 per cent higher than the previous day’s turnover of Tk 6.15 billion.
Gainers took a strong lead over the losers, as out of 352 issues traded, 188 advanced, 56 declined and 108 issues remained unchanged on the DSE trading floor.
Beximco - the flagship company of Beximco Group- was the most-traded stock with shares worth about Tk 764 million changing hands, followed by Premier Bank, NRBC Bank, Robi, and Beximco Pharma.
Premier Bank was the day’s top gainer, posting a gain of 9.52 per cent while GBB Power was the worst loser, losing 4.31 per cent.
A total number of 159,515 trades were executed in the day’s trading session with a trading volume of 212.79 million shares and mutual fund units.
The market-cap of DSE also rose to Tk 4,723 billion on Monday, up from Tk 4,646 billion in the previous session.
The Chittagong Stock Exchange (CSE) also rebounded with the CSE All Share Price Index – CASPI –gaining 191 points to settle at 15,677 and the Selective Categories Index – CSCX rising 115 points to close at 9,458.
Of the issues traded, 122 advanced, 49 declined and 46 remained unchanged on the CSE.
The port city’s bourse traded 16.15 million shares and mutual fund units with a turnover value of Tk 326 million.