Banking, major sectors see profit booking
Stocks ended marginally lower on Sunday, after a single-day break, as cautious investors preferred to book profit on major sector issues in the later part of the session. The market was in a positive territory in the first half of the session, but later half went down steadily amid profit booking on banking, engineering, food, power and telecom sector stocks. DSEX, the prime index of the Dhaka Stock Exchange (DSE), went down by 13.45 points or 0.18 per cent to settle at 7,237, after gaining 8.75 points in the previous session. Two other indices also edged lower with the DSE 30 Index, comprising blue chips, dropped 7.94 points to finish at 2,665 and the DSE Shariah Index (DSES) shed 6.46 points to close at 1,574. Turnover, a crucial indicator of the market, however, rose to Tk 22.57 billion, which was 22 per cent higher than the previous day’s tally of Tk 18.52 billion.Most of the sectors witnessed dismal performance with engineering saw the highest correction of 0.80 per cent, followed by banking with 0.70 per cent, food 0.40 per cent, pharma 0.40 per cent and telecom 0.20 per cent. On the other hand, IT, cement, miscellaneous, and financial institutions gained 3.20 per cent, 1.10 per cent, 0.60 per cent and 0.10 per cent respectively. Of the 376 issues traded, 230 ended lower, 113 higher and 33 remained unchanged on the DSE trading floor. Orion Pharma was the most traded stock with shares worth Tk 1.42 billion changing hands, followed by Beximco, LafargeHolcim, Shahjibazar Power and Delta Life Insurance. The IT Company Aamra Network was the day’s top gainer, rising 9.92 per cent, followed by Tosrifa Industries (9.90 per cent), Khan Brother PP Woven Bag Industries (9.72 per cent), Evince Textile (9.62 per cent) and Zaheen Spinning (9.52 per cent).The Chittagong Stock Exchange (CSE) also closed marginally lower with the CSE All Share Price Index – CASPI -losing 19 points to settle at 21,126 and the Selective Categories Index – CSCX shedding 10 to finish at 12,676.
MFS transactions on the rise
Transactions through mobile financial services in Bangladesh rose 5.4 per cent year-on-year to Tk 66,387 crore in July as people’s habit to use the cashless mode of payments persists despite the reopening of the economy and easing of coronavirus restrictions. Transactions amounted to Tk 63,000 crore in the same month a year ago and Tk 62,993 crore in June this year, data from the Bangladesh Bank showed.On average, Tk 2,141 crore was transacted every day in July.Inward remittance channelled through MFS providers increased 67 per cent year-on-year to Tk 282 crore in July. The number of registered mobile banking accounts stood at 10.27 crore at the end of July, while active accounts numbered 4.12 crore.
StanChart launches SMART Card
Standard Chartered Ban-gladesh recently announced the launch of Standard Chartered SMART Credit Card. This unique credit card — SMART Card — is designed for the digital-first lifestyle, offering everyday benefits centring around convenient borrowing, digital rewards and self-service capabilities. The SMART Card delivers convenient borrowing, digital rewards and self-service capabilities, offering a range of cash-back, savings and fee waiver privileges that are carefully designed to help clients make the most of their digital-first lifestyle. This unique offering is the first credit card in the market to be manufactured through a carbon-neutral process and bears the Certified Carbon Neutral logo.
Orion Pharma leads DSE turnover chart
Orion Pharma dominated the Dhaka Stock Exchange’s turnover chart on Sunday after a long time while ten most-traded stocks accounted for 31 per cent transactions. Market analysts said investors were showing buying interest on large-cap stocks like Orion Pharma, Beximco, LafargeHolcim, Shahjibazar Power and Delta Life Insurance. According to the DSE data, some 17.72 million shares of Orion Pharma were traded, generating a turnover of Tk 1.42 billion, which was 6.29 per cent of the day’s total turnover. The drug maker’s share price closed at Tk 84.40 on Sunday, after hitting more than two-year highest price of Tk 85.30. Its share surged 8.76 per cent on Sunday.The company’s nine months consolidated earnings per share (EPS) stood at Tk 2.98 for July 2020-March 2021 as against Tk 2.75 for July 2019-March 2020. The company’s paid-up capital is Tk 2.34 billion and authorised capital is Tk 5.0 billion while total number of securities is 234 million. Beximco came second on the turnover chart, with shares worth Tk 991 million changing hands. The company’s share rose 2.30 per cent to close at Tk 137.50 each.