Miscellaneous sector posts 116pc gain in 2021

Miscellaneous sector posts 116pc gain in 2021

Miscellaneous sector was the best performer on the Dhaka Stock Exchange (DSE) in 2021, showing 116 per cent return while the jute sector was the worst loser, shedding 28 per cent.

The sector, which comprises 14 companies, generated the highest return, led by Bangladesh Export Import Company (Beximco), which posted a 176 per cent gain during the year.

Price surge of the sector heavyweights — Beximco, Berger Paints Bangladesh and Bangladesh Shipping Corporation — helped the sector emerge as the best performer, said a merchant banker.

Beximco, the flagship company of Beximco Group, led the market from the front in the past few months during the year.

The tannery sector came next with 101 per cent return in the outgoing year, as prices of most companies in this sector soared significantly.

The paper & printing sector also rose by 66 per cent as Paper Processing & Packaging, a company of the sector, jumped 1140 per cent during the year, the second-largest gainer in 2021.

It was followed by Bangladesh Monospool Paper Manufacturing Company and Sonali Paper & Board Mills, which gained 253 per cent and 252 per cent respectively during the year.

The food & allied sector also surged 44 per cent as four issues of the sector gained more than 100 per cent, with low-cap Emerald Oil Industries rising 285 per cent, followed by Rangpur Dairy & Food Products (213 per cent), Taufika Foods & Lovello Ice-cream PLC (130 per cent) and Beach Hatchery (114 per cent).

The general insurance sector also surged by 36 per cent riding on newly listed Sena Kalyan Insurance and Desh General Insurance, which gained 603 per cent and 178 per cent respectively during the year.

The heavyweight banking sector soared 25 per cent as four listed banks soared more than 50 per cent with newly listed NRB Commercial Bank gaining 113 per cent.

Premier Bank, First Security Islami Bank and Mercantile Bank also gained 61 per cent, 57 per cent and 53 per cent respectively.The telecommunications sector also soared 10 per cent as all three companies of the sector gained moderately. Bangladesh Submarine Cable gained 29 per cent, followed by Robi with 17 per cent and largest market-cap Grameenphone gained 5.0 per cent.Pharmaceutical sector also saw a 21 per cent return, riding on Salvo Chemicals, Beacon Pharma, ACME Pesticides and Orion Pharma. Salvo Chemicals gained 254 per cent, Beacon Pharma 212 per cent and ACME Pesticides 144 per cent.Pharmaceutical sector may outperform […]

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