Beximco tops DSE turnover list

The Daily Star  January 26, 2021

Accounts for 20.81pc of market turnover

Star Business Report

Beximco Ltd topped the turnover list yesterday amid an influx of buyers and sellers in the market.

Some Tk 330 crore worth of Beximco’s shares were traded at the Dhaka Stock Exchange (DSE), which was 20.81 per cent of the total turnover.

The news of a jump in Beximco’s earnings per share in the first half of 2020-21 led to the buoyancy in the market.

Its earnings per share rose 255 per cent year-on-year to Tk 1.92 in the July-December period, according to the company’s disclosure published yesterday on the DSE website.

Despite the higher earnings, a number of investors sold off its stocks, which already rose more than four times in the last two months, said a stock broker.

But the demand for these products may fall in the coming days, he said.

DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), dropped 25.61 points, or 0.44 per cent, to 5,789 yesterday.

Turnover, one of the important indicators of the market, went up 7.8 per cent to Tk 1,585 crore.

The market has been seeing some profit-booking sessions for the last few days and it was expected, said a merchant banker.

Still, the concerns of Beximco Group are leading the market from the front, he said, adding that the stocks of Beximco Ltd, Beximco Pharmaceuticals, IFIC Bank and Shinepukur Ceramics are going through corrections now as they rose manifold earlier.

After Beximco Ltd, Beximco Pharmaceuticals was the second on the turnover list trading shares worth Tk 152 crore followed by Square Pharmaceuticals, Robi Axiata, LankaBangla Finance, Summit Power, GBB Power and City Bank.

Energypac Power Generation Ltd topped the gainers’ list rising 9.99 per cent. The other companies that fared well include RAK Ceramic, Delta Spinners, Crystal Insurance and Asia Pacific Insurance.

C&A Textile shed the most plunging 9.09 per cent followed by GBB Power, Jute Spinners, CAPM IBBL Mutual Fund and Familytex Bangladesh.

The port city bourse also dropped. The general index of the Chittagong Stock Exchange (CSE) fell 108 points, or 0.63 per cent, to 16,878.

Among 268 stocks that were traded at the CSE, 64 advanced, 146 fell and 48 remained unchanged.