For the first time, the stock market reach to a new high with the benchmark index crossing 5,000 points on Thursday following the news of Grameenphone setting up a subsidiary company.
The key index of Dhaka Stock Exchange gained 96.62 points, or 1.93 per cent, to close at 5,095.21 on the closing trading day of the week, while its blue chips index, DSE20, advanced by 11.69 points, or 0.42 per cent, to finish at 2,824.92.
A DSE stockbroker said heavy-weight Grameenphone set the tone of the day after the telecom company disclosed that it had resolved to form a subsidiary company.
Grameenphone on Thursday disclosed that board of directors of the company had resolved to form and incorporate an IT company under the name and style of Grameenphone IT Ltd, which will be a fully-owned subsidiary company of the mobile phone operator. The formation and incorporation of the company, however, is subject to required regulatory procedure.
Share prices of Grameenphone gained 7.71 per cent to close at Tk 244.40 on the DSE.
A senior merchant bank official said investors were also injecting funds ahead of corporate disclosures by the listed companies. The market has been maintaining a bullish trend in recent weeks, he said.
Of the total 241 issues traded, 153 advanced, 83 declined, and five remained unchanged.
Turnover at the DSE increased to Tk 1,241.15 crore from the Wednesday’s Tk 1,108.11 crore.
Grameenphone topped the turnover leaders with a total transaction of Tk 120.23 crore.
Beximco, Makson Spinning, Beximco Pharmaceuticals, Meghna Petroleum, AB Bank, Jamuna Oil, Mercantile Bank, Fu Wang Ceramics and NCC Bank were the rest of the top 10 turnover leaders on the day.
With the input from NewAgebd
