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Bangladesh’s stocks see marginal gain on Sunday

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Dhaka, Bangladesh (BBN)– Bangladesh’s stocks posted marginal gain on Sunday snapping a two-day losing streak, as investors showed their buying appetite on different sectors.

Investors took position on sector specific issues as some companies showed better earnings for the year ended on December 31, 2018, market operators said.

Meanwhile, Singer Bangladesh has recommended 30 per cent stock dividend for the year ended on December 31, 2018. The company also witnessed a 40 per cent increase in operating profit during the year under review.

LafargeHolcim has recommended 10 per cent cash dividend for the year ended on December 31, 2018. The cement maker’s consolidated profit rose 38 per cent year-on-year to Tk 1.11 billion in 2018.

LafargeHolcim’s share soared 7.60 per cent to close at BDT 43.90 each while Singer’s share closed at BDT 248.40, advancing 3.50 per cent.

After witnessing volatility in the first half of the trading session, later half went up steadily as investors showed their buying spree on sector specific issues.

At the end of the session, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 11.24 points or 0.19 per cent to settle at 5,723, after losing 44 points in the past two sessions.

Some expectant investors took position, particularly on engineering, banking, financial institutions and food sectors which helped the prime index to close green, according to International Leasing Securities.

Top ten traded companies captured more than 37 per cent of the total turnover with Monno Ceramic Industries topped the turnover chart with shares worth BDT 387 million changing hands, closely followed by Singer Bangladesh (BDT 346 million), Premier Bank (BDT 277 million), Fortune Shoes (BDT 271 million) and Bangladesh Submarine Cable Company (BDT 266 million).

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Article source: https://businessnews-bd.net/bangladeshs-stocks-see-marginal-gain-on-sunday/

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