The Financial Express

Stocks slip into red after two-day rise

BATBC shines on dividend declarations news

| Updated: February 14, 2021 15:52:52

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Stocks slip into red after two-day rise

The market slipped into the red on Thursday, spanning a two-day gaining streak, as investors mostly followed cautious stance.

The market swung between negative and positive several times during the trade as investors remained confused about the market direction.

DSEX, the prime index of the DSE, went down by 24.39 points or 0.44 per cent to settle at 5,485, after adding 133 points in the past two straight sessions.

The DSE Shariah Index (DSES) also shed 9.0 points to close at 1,236. However, the DSE 30 Index, comprising blue chips, gained 8.86 points to finish at 2,110, riding on British American Tobacco Bangladesh Company.

The BATBC made the day following its hefty dividend declaration. The multinational tobacco company saved the market from a big fall as the heavyweight added a significant contribution to the index.

Shares of the BATBC soared 12.62 per cent after it declared another 300 per cent final cash dividend, making the total cash dividend 600 per cent and 200 per cent stock dividend for the financial year that ended on December 31, 2020.

It became the top turnover leader with more than 1.56 million shares worth over Tk 2.67 billion changing hands, followed by Beximco, Robi, Beximco Pharma and LankaBangla Finance.

Turnover, a crucial indicator of the market, crossed Tk 10 billion-mark after 11 sessions to Tk 10.55 billion, which was 34 per cent higher than the previous day’s turnover of Tk 7.86 billion.

Shares of Taufika Foods and Agro Industries were frozen at 10 per cent—the upper limit circuit breaker for the debutant on its second trading day. It rose to Tk 22.50 from Tk 10 in two days.

Prime Insurance was the day’s worst loser, losing 12.44 per cent despite the company declaring a 10 per cent cash dividend for the year ended on December 31, 2020.

A total number of 156,178 trades were executed in the day’s trading session with a trading volume of 198.48 million shares and mutual fund units.

The market-cap of DSE also fell to Tk 4,697 billion on Thursday, down from Tk 4,709 billion in the previous day.

The Chittagong Stock Exchange (CSE) also ended lower with the CSE All Share Price Index – CASPI –losing 95 points to settle at 15,883 and the Selective Categories Index – CSCX shedding 57 points to close at 9,585.

Of the issues traded, 155 declined, 36 advanced and 51 remained unchanged on the CSE.

The port city’s bourse traded 10.55 million shares and mutual fund units with a turnover value of Tk 833 million.

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