Pharma sector snares 53pc turnover on main bourse

Pharmaceuticals sector topped the weekly turnover chart on the Dhaka bourse, the first week after 66 day-long closure, as investors are anticipating brisk business amid rising Covid-19 cases in the country.

Market operators said despite bearish market, some investors showed their appetite on selective pharmaceuticals & chemical stocks as they are expecting positive financial impact of Covid-19 on pharmaceutical issues in the coming quarters.

The pharma sector accounted for 53 per cent of the week's total turnover with six firms - Square Pharma, Beximco Pharma, Indo-Bangla Pharma, Orion Pharma, Central Pharma and Silva Pharma-- came from the sector out of top 10 turnover chart.

Square Pharma topped the week's turnover chart with shares worth Tk 671 million changing hands during the week, which was 9.70 per cent of the week's total turnover, according to statistics from the DSE.

Each share of the Square Pharma closed at Tk 172.50 on Thursday, the last trading day of the week, shedding 9.0 per cent over the last week. The company's share was traded between Tk 156.50 and Tk 266.20 in the last one year.

The Square Pharma, which was listed on the DSE in 1995, disbursed 42 per cent cash and 7.0 per cent stock dividend for the year ended on June 30, 2019.

The company's paid-up capital is Tk 8.44 billion, authorised capital is Tk 10 billion and the total number of securities is 844.23 million.

The sponsor-directors own 34.57 per cent stake in the company, while institutional investors own 10.30 per cent, foreign investors 19.48 per cent and the general public 35.65 per cent as of February 29, 2020.

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