Dhaka, Bangladesh
Stocks see up on large-cap vibe

Stocks see up on large-cap vibe

Stocks witnessed upward trend on Monday with rising trend of all the indices at Dhaka and Chittagong stock exchanges on higher activities of large-cap securities, reports BSS. The rising major sectors were insurance and food and allied. A total of 141 securities moved up due to higher activities. The broader DSEX of Dhaka Stock Exchange (DSE) finished the day with 11.06 points up at 5,784.67. The two selective indices - DS30 and DSES - also followed the same trend with 3.15 points up at 2,179.08 and with 3.06 points up at 1,353.66 points respectively. Out of the 340 issues traded at the DSE, 165 gained against 120 losing issues. The trade value at the DSE increased to Tk 515.62 crore from the previous session’s Tk 412.25 crore and the trade volume also increased to 13.42 crore from 10.59 crore shares of Sunday trading. The five major gaining companies were Popular Life Insurance, USMANIAGL, Sonali Ansh, NTC and Beximco. The five major losing companies were Mercantile Bank, United Insurance, ADVENT, Central Insurance and Rupali Insurance. The top five turnover leaders were Beximco, Brac Bank, ADVENT, Mercantile Bank and LHBL. Chittagong Stock Exchange (CSE) also closed the day up, with its major CASPI index ending 21.45 points higher at 17,846.61. At the CSE, 233 issues were traded. Of those, 121 issues closed higher while 84 issues lower. Ad giant WPP faces brief stock slump after CEO resigns LONDON, Apr 16: Shares in British advertising giant WPP briefly slumped on Monday after chief executive and founder Martin Sorrell resigned over the weekend, reports AFP. The stock dived more than 4.0 percent in opening deals after Sorrell stepped down on Saturday, but swiftly regained composure to stand almost flat at 1,187.50 pence. The news nevertheless has sent shockwaves through the marketing industry, and comes 10 days after WPP launched an independent probe into allegations of his personal misconduct through the misuse of company assets. WPP also revealed Saturday however that the probe had concluded, adding in a company statement that “the allegation did not involve amounts that are material”. Sorrell, 73, was easily the longest serving chief executive of a company on London’s benchmark FTSE 100 index, having held the position since 1985. He denied any wrongdoing after the allegations surfaced in early April. “Obviously I am sad to leave WPP after 33 years,” he added in the statement. “It has been a passion, focus and source of energy for so long. “However, I believe it is in the best interests of the business if I step down now. I leave the company in very good hands, as the board knows.” WPP chairman Roberto Quarta has been made executive chairman until the appointment of a new chief executive.

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