Stocks return to red due to huge sell-offs
Earlier, in the previous trading session on Thursday (9 March), DSEX declined 2 points to settle at 6260 points and turnover was Tk545.68 crore
Shares at the Dhaka Stock Exchange (DSE) returned to red today owing to huge sell-offs.
As a result, indices and turnover at DSE declined for the second straight session. DSEX, the benchmark index on Sunday (12 March) fell by 0.40% or 25 points to settle at 6234.98 points.
DSES, the shariah index fell by 0.25% or 3.41 points to settle at 1358 points while DS-30, the blue-chip index fell by 0.24% or 5.42 points to settle at 2221 points.
The turnover at DSE stood at TK433.58 crore.
Out of the traded scrips, 17 scrips' prices advanced, 139 declined and 155 scrips remained unchanged.
Stocks opened higher on Sunday higher as investors' participation increased but one hour later, the share sell-off increased, so indices become red.
Earlier, in the previous trading session on Thursday (9 March), DSEX declined 2 points to settle at 6260 points and turnover was Tk545.68 crore.
Unilever Consumer Care was top gainer on Sunday; its shares price gained by 20.17% or Tk574.7 each to Tk3429.70 each as there was no circuit breaker for the annual corporate declaration.
Its shares price was stuck at the floor price at Tk2849 each for a long time.
For the first time, Unilever Consumer Care Limited declared a 60% stock dividend for the financial year 2022.
It will also pay a 240% cash dividend to its shareholders as declared at the board meeting on Thursday.
Explaining the reason for declaring a stock dividend in its price-sensitive statement, the company said the stock dividend has been recommended with the objective of potential utilization of the retained amount as capital for future business expansion.
As per the board's decision, each shareholder will get 60 shares against 100 shares of the company.
When asked, Unilever Consumer Care's Chairman Masud Khan told The Business Standard, "Our company's shares are trading at high prices on the stock exchange. We intend to bring these shares within reach of the common investors. So, we decided to offer stock dividends to shareholders, which will reduce the share price through dilution.
Earlier in 2021, the multinational paid a 440% cash dividend to the shareholders.