Fortune Shoes shines bright on weekly turnover chart

Ten most traded companies accounted for 23 per cent transactions on the Dhaka Stock Exchange (DSE) in the outgoing week, with the Fortune Shoes making it to the top of the turnover list again.

Market analysts said investors continued to show their appetite for Fortune shares, buoyed by dividend expectations and the export deal signed with New York-based Steve Madden.

On July 19, Fortune Shoes signed an agreement with Steve Madden for export of shoes worth US$ 4.0 million (Tk 340 million), which is scheduled to be shipped by October.

According to DSE data, about 20.85 million shares of Fortune Shoes were traded in the outgoing week, generating a turnover of Tk 820 million, making up 4.10 per cent of the DSE's total turnover.

The total turnover on the DSE stood at Tk 19.98 billion during the week, up from Tk 16.36 billion in the week before.

The shoemaker's share closed at Tk 40 on Thursday, the last trading session of the week, advancing 0.25 per cent over the previous week.

The company's share was traded between Tk 27.90 and Tk 41.40 in the last one year.

The company also reported a 35 per cent earnings growth for the January-March quarter of 2019.

The company's earnings per share (EPS) stood at Tk 0.54 for January-March 2019 as against Tk 0.40 for January-March 2018.

For the nine-month period from July 2018 to March 2019, the company's EPS was Tk 1.67 as against Tk 1.19 for the same period of the previous fiscal.

The United Power came second on the turnover chart, with shares worth Tk 694 million changing hands. The power generation company's share closed at Tk 395.10, gaining 4.88 per cent over the previous week.

Square Pharma clinched the third spot, with shares worth Tk 519 million changing hands. The second largest market-cap company's share price fell 1.88 per cent to close at Tk 250 each.

The Bangladesh Shipping Corporation emerged fourth with shares worth Tk 420 million changing hands. The state-run company's share closed at Tk 53.9 each, soaring 8.89 per cent over the previous week.

National Life Insurance notched the fifth spot, with shares worth Tk 412 million changing hands. The insurer's share price shed 1.41 per cent to close at Tk 258.5 each on Thursday.

The turnover of Beacon Pharma was Tk 383 million. The company's share closed at Tk 22.60 each on Thursday, gaining 4.63 per cent.

Sinobangla Industries featured a turnover of Tk 364 million. The company's share price rose 10.26 per cent to close at Tk 75.2 each on Thursday.

Federal Insurance Sea Pearl Beach Resort featured a turnover of Tk 328 million. The newly listed company's share closed at Tk 35.9 each, down 0.83 per cent.

The turnover of Monno Ceramic was Tk 299 million. The company's share price shed 0.28 per cent to close at Tk 141.8 each.

Federal Insurance also made its way to the day's top 10 turnover chart, with shares of Tk 297 million changing hands. The company's share price fell 1.91 per cent to close at Tk 15.4 on Thursday.