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Dhaka stocks fell by 2.42 per cent Tuesday as Pubali Bank lost sharply and few of the weighted shares dropped due to profit-taking.
Dhaka Stock Exchange (DSE) all shares price index (DSI) fell by 29.94 points at Tk 1205.63.
Brokers said Pubali Bank fell by 64.29 per cent to close at 715.75 after the company went ex-dividend.
The DSE General Index (DGEN) lost 41.52 points or 2.57 per cent at 1572.914. DSE 20 blue chip index rose by 4.0 points or 0.26 per cent at 1537.31.
A total of 202 issues were traded on the day, of which 132 gained, 55 declined and 15 remained unchanged.
Square Textile share fell by 2.09 per cent at Tk 81.3 due to profit-taking by the investors. The company dominated the trading on the premier Dhaka stock market with 1,35, 300 shares worth Tk. 11.20 million.
Talking to the FE chief executive officer (CEO) of ICB Securities Trading Company Ltd. Nurul Alam said due to recent declaration of 30 per cent cash dividend and 12.5 per cent bonus dividend, the price of Square Textile had increased significantly.
The share price of Square Pharmaceuticals Ltd. also rose by 1.03 per cent to close at Tk 2498.25. It ranked second position in terms of turnover with 4134 shares worth 10.43 million.
Talking to the FE Chief Executive Officer (CEO) of LankaBangla Securities Ltd. Nasir Uddin Chowdhury said Square Pharmaceuticals Ltd. gained because it was under-priced. "The company has strong fundamentals and its financial performance is also good", he said.
Southeast Bank Ltd. lost 0.42 per cent on profit-taking after its recent significant gain over the news that it might issue rights share at par.
Market sources also said it is also expected to declare cash or stock dividend in the coming board of director's meeting.
The other major losers of the day are Chittagong Vegetables Ltd., Eastern Bank Ltd and Beximco Fisheries Ltd. The lost 6.25 per cent, 5.39 per cent and 4.92 per cent respectively.
Nasir Uddin Chowdhury said: "Pharmaceutical and banking shares may dominate at the market tomorrow as these companies have strong fundamentals and their financial track records are also good."
Nasir said, moreover, as these companies have good earning per share (EPS) and dividend pay-out ratio is also attractive. As they are holding annual general meeting (AGM) regularly investors prefer to buy such shares, he added.
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