Lafarge, Singer financial reports lift Dhaka stocks

Dhaka stocks on Sunday gained marginally after a fall in the previous two sessions as a section of investors, encouraged by the dividend declarations of Singer and Lafarge Holcim, went for bargain hunting share buying.
DSEX, the key index of Dhaka Stock Exchange, added 0.19 per cent, or 11.24 points, to close at 5,723.07 points on Sunday after losing 44 points in the previous two sessions.
The day’s trading began in negative mood but DSEX started to rise and finished in the positive zone as a section of investors went for share buying, especially those of multinational companies including Lafarge Holcim Bangladesh and Singer Bangladesh.
The share prices of Singer surged by 3.5 per cent as it announced 30 per cent stock dividends for 2018 with its profits rising by 22.47 per cent in the year compared with that in the previous year.
Besides, the share prices of Lafarge Holcim soared by 7.59 per cent as the company declared 10 per cent cash dividends for 2018 against 5 per cent cash in the previous year.
The company’s EPS also rose by 39 per cent to Tk 0.96 per share in 2018 from Tk 0.69 per share in the previous year.
The corporate announcements of the two companies encouraged a section of investors to invest in the market, said market operators.
EBL Securities in its daily market commentary said, ‘The market started with positive tune with the dividend declaration and earnings’ news of two shares from cement and engineering sectors.’ 
Though the market participation has declined, some investors seemed optimistic about fundamental scrips, which caused the market to end slightly higher, it said.
Average share prices of non-bank financial institution and bank sector rose by 0.44 per cent and 0.30 per cent 
respectively.
Share prices of cement, engineering and textile sectors also advanced on the day.
Average share prices of general insurance, energy and telecommunication dropped by 2.51 per cent, 1.39 per cent and 0.81 per cent respectively.
The turnover on the bourse dropped to Tk 662.27 crore on Sunday from Tk 689.24 crore in the previous trading session amid Tk 33.88 crore block transaction of United Commercial Bank Limited.
Out of the 345 issues traded on the day, 153 declined, 139 advanced and 48 remained unchanged.
DSE blue-chip index DS30 added 0.18 per cent, or 3.77points, to close at 2,002.42 points.
Shariah index DSES increased 0.24 per cent, or 3.27 points, to finish at 1,317.91 points.
Monno Ceramic Industries led the turnover leaders with its shares worth Tk 38.73 crore changing hands on the day.
Singer Bangladesh, Premier Bank, Fortune Shoes, Bangladesh Submarine Cable Company, Alif Industries, United Power Generation Company, National Polymer, Monno Jute Stafflers and National Tubes were the other turnover leaders.
Intech Limited gained the most on the day with an 8.04-per cent increase in its share prices while Sonargaon Textile was the worst loser, shedding 7.30 per cent.
Source: http://www.newagebd.net

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