Business

Stocks rebound after 5-day losses

Stock markets in Bangladesh rebounded yesterday, snapping a five-day losing streak on the back of an appreciation of banking shares.

Shares of banks like Islami Bank Bangladesh, BRAC Bank, City Bank, Pubali Bank and National Bank drew investors the most along with the shares of BAT Bangladesh, Square Pharmaceuticals, Olympic Industries, Grameenphone and Renata.

Of them, only two entities -- Islami Bank Bangladesh and BAT Bangladesh -- recorded a double-digit growth in share prices. Islami Bank logged the highest gain of 18.58 percent.

As a result, the DSEX, the benchmark index of the Dhaka Stock Exchange, jumped 96.96 points, or 1.66 percent, from that on the day prior to close at 5,699.

The DSES, the index for Shariah-based companies, also rose 17.66 points, or 1.47 percent, to 1,219 and the DS30, the index for the blue-chip firms, added 42.96 points, or 2.10 percent, to 2,090.

The CDSET, the large-cap index or of companies accounting for large amounts in market capitalisation, which is the total value of their shares at present, also increased 2.54 percent to 1,134 points.

The Chittagong Stock Exchange also witnessed an identical trend as its all-share price index grew 175.52 points, or 1.08 percent, to settle the day at 16,378.

However, Beximco Pharmaceuticals, Beacon Pharmaceuticals, Orion Pharma, Heidelberg Materials Bangladesh, Best Holdings, JMI Hospital Requisite Manufacturing, Khan Brothers PP Woven Bag Industries, Navana Pharma, Orion Infusion, Taufika Foods and Lovello Ice-cream showcased poor performances at the DSE.

Turnover, which indicates the total value of shares traded on the day, increased 45 percent to Tk 778.5 crore.

Block trades, meaning high-volume transactions in a security that are privately negotiated and executed outside of the open market, contributed 2.4 percentage points to the day's overall market turnover.

Grameenphone was the most traded share, with a turnover of Tk 84.7 crore.

All large-cap sectors posted positive performances yesterday, according to the daily market update by BRAC EPL Stock Brokerage.

The banking sector booked the highest gain of 4.62 percent followed by food and allied, telecommunication and non-bank financial institutions (NBFIs) with 3.73 percent, 2.81 percent and 1.80 percent respectively.

The engineering sector also logged a gain of 1.29 percent while fuel and power grew 1.01 percent and pharmaceuticals 0.64 percent.

Of the issues that changed hands, the prices of 151 edged up, 210 ended lower and 33 did not see any fluctuation.

Social Islami Bank topped the gainers' list with a rise of 10 percent, closely followed by Islami Bank Bangladesh, which made a gain of 9.97 percent.

Olympic Industries, Nurani Dyeing and Sweater, Union Bank, National Bank, Global Islami Bank, and Far East Life Insurance also staged strong performances.

ONE Bank, First Security Islami Bank, Rangpur Foundry, NCC Bank, AB Bank and Dulamia Cotton Spinning Mills were also on the gainers' chart.

Provati Insurance Company shed the most, losing 2.98 percent, closely followed by Paramount Insurance Company, Sonali Paper and Board Mills, Salvo Chemical Industry and Libra Infusions, which all suffered losses of about 3 percent each.

AFC Agro Biotech, Paper Processing and Packaging, Orion Pharma, Global Insurance, Orion Infusion, and Gemini Sea Food also suffered losses.

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Stocks rebound after 5-day losses

Stock markets in Bangladesh rebounded yesterday, snapping a five-day losing streak on the back of an appreciation of banking shares.

Shares of banks like Islami Bank Bangladesh, BRAC Bank, City Bank, Pubali Bank and National Bank drew investors the most along with the shares of BAT Bangladesh, Square Pharmaceuticals, Olympic Industries, Grameenphone and Renata.

Of them, only two entities -- Islami Bank Bangladesh and BAT Bangladesh -- recorded a double-digit growth in share prices. Islami Bank logged the highest gain of 18.58 percent.

As a result, the DSEX, the benchmark index of the Dhaka Stock Exchange, jumped 96.96 points, or 1.66 percent, from that on the day prior to close at 5,699.

The DSES, the index for Shariah-based companies, also rose 17.66 points, or 1.47 percent, to 1,219 and the DS30, the index for the blue-chip firms, added 42.96 points, or 2.10 percent, to 2,090.

The CDSET, the large-cap index or of companies accounting for large amounts in market capitalisation, which is the total value of their shares at present, also increased 2.54 percent to 1,134 points.

The Chittagong Stock Exchange also witnessed an identical trend as its all-share price index grew 175.52 points, or 1.08 percent, to settle the day at 16,378.

However, Beximco Pharmaceuticals, Beacon Pharmaceuticals, Orion Pharma, Heidelberg Materials Bangladesh, Best Holdings, JMI Hospital Requisite Manufacturing, Khan Brothers PP Woven Bag Industries, Navana Pharma, Orion Infusion, Taufika Foods and Lovello Ice-cream showcased poor performances at the DSE.

Turnover, which indicates the total value of shares traded on the day, increased 45 percent to Tk 778.5 crore.

Block trades, meaning high-volume transactions in a security that are privately negotiated and executed outside of the open market, contributed 2.4 percentage points to the day's overall market turnover.

Grameenphone was the most traded share, with a turnover of Tk 84.7 crore.

All large-cap sectors posted positive performances yesterday, according to the daily market update by BRAC EPL Stock Brokerage.

The banking sector booked the highest gain of 4.62 percent followed by food and allied, telecommunication and non-bank financial institutions (NBFIs) with 3.73 percent, 2.81 percent and 1.80 percent respectively.

The engineering sector also logged a gain of 1.29 percent while fuel and power grew 1.01 percent and pharmaceuticals 0.64 percent.

Of the issues that changed hands, the prices of 151 edged up, 210 ended lower and 33 did not see any fluctuation.

Social Islami Bank topped the gainers' list with a rise of 10 percent, closely followed by Islami Bank Bangladesh, which made a gain of 9.97 percent.

Olympic Industries, Nurani Dyeing and Sweater, Union Bank, National Bank, Global Islami Bank, and Far East Life Insurance also staged strong performances.

ONE Bank, First Security Islami Bank, Rangpur Foundry, NCC Bank, AB Bank and Dulamia Cotton Spinning Mills were also on the gainers' chart.

Provati Insurance Company shed the most, losing 2.98 percent, closely followed by Paramount Insurance Company, Sonali Paper and Board Mills, Salvo Chemical Industry and Libra Infusions, which all suffered losses of about 3 percent each.

AFC Agro Biotech, Paper Processing and Packaging, Orion Pharma, Global Insurance, Orion Infusion, and Gemini Sea Food also suffered losses.

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