IT sector problems rise in a falling market

Listed companies in the IT sector saw the strongest price appreciation last week amid price corrections by many major sectors.

The companies said there was no undisclosed price-sensitive information behind the unusual price hike.

During the week, the IT sector, comprising 11 issues, saw its market capitalization increase by 8.1%, as the share price of the companies rose by 1.18% to 41.74%.

Of the top 10 winners last week, five were from the IT sector. The companies are BDCOM Online, Agni Systems, Intech, ADN Telecom and aamra networks.

Following increased investor participation, IT companies recorded total turnover of Tka 479.70 million last week and captured 6.2% of weekly market transactions.

Out of five companies, BDCOM Online was last week’s number one winner on the Dhaka Stock Exchange (DSE).

The company’s share price jumped 41.74% in five sessions and closed at Tk 34.30 each on Thursday.

In response to a DSE query dated March 9, 2022, the Company advised that there is no undisclosed price-sensitive information regarding the recent unusual price spike and increase in share volume.

Among other big gainers in the IT sector, Agni Systems’ share price rose 16.25% and eventually closed at 27.90 Tk each on Thursday.

On Thursday, Intech’s share price closed at Tk 32.20 each and over the week, the company’s share price rose 13.38% on the DSE premier exchange.

ADN Telecom saw an appreciation of 13.27% and the company’s share price closed at 66.60 Tk each on Thursday.

aamra networks last week saw a price appreciation of 11.92% and closed at 46 Tk each on Thursday.

Among other companies in the IT sector, the share price of aamra technologies rose 7.18% and closed at 37.3 Tk each on Thursday.

Daffodil Computers saw its share price appreciate by 6.25% last week and the company’s share price closed at Tk 66.30 each on Thursday.

Among other IT companies, eGeneration stock price rose 6.61%, Genex Infosys 1.18%, Information Services Network 7.07% and IT Consultants 9.91%.

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