Business

Stocks rise after falling for two days

Bangladesh's stock market rose today on falling for two days as investors made fresh bets on lucrative blue-chip and large-cap shares to pocket short-term gains amidst price movements.

A blue chip is a nationally or internationally recognised, well-established, and financially sound company that's publicly traded.

Large-cap shares refer to those of companies which account for large amounts in market capitalisation, which the total value of their outstanding shares.

The DSEX, the broad index of Dhaka Stock Exchange (DSE), grew 12.53 points, or 0.22 percent, from that on the day prior to close at 5,694.

Similarly, the DSES, the index that represents the Shariah-compliant firms, went up by 7.49 points, or 0.60 percent, to 1,245.

Meanwhile, the DS30, the index composed of the blue-chip companies, rose 8.37 points, or 0.40 percent, to 2,076.

At Chittagong Stock Exchange, the CASPI, the major index of the port city bourse, added 40 points, or 0.25 percent, to settle at 16,117.

Of the issues that changed hands on the DSE, prices of 156 rose, 224 closed lower and 59 did not witness any price fluctuations.

Shares of companies like Islami Bank Bangladesh, Beacon Pharmaceuticals, Olympic Industries, BRAC Bank, Kohinoor Chemicals, United Commercial Bank, IFIC Bank, LafargeHolcim Bangladesh, ADN Telecom, and Pragati Life Insurance drew investors the most, according to LankaBangla Financial Portal.

But none witnessed double-digit growth in share prices.

Despite the price fluctuations, a section of investors remains optimistic, with hopes that the interim government's ongoing reforms would bring long-term stability and growth to the capital market.

Another section is holding off on significant investments until corporate earnings reports are released, which will provide more clarity on the financial health of listed companies.

Islami Bank Bangladesh made the largest gain of 8.07 percent, closely followed by Beacon Pharmaceuticals (8.02 percent).

However, Renata, British American Tobacco Bangladesh, Grameenphone, Padma Oil Company, Al-Arafah Islami Bank, Robi Axiata, City Insurance, Beach Hatchery, Sea Pearl Beach Resort and Spa and Jamuna Oil Company suffered losses.

However, turnover, which refers to the total value of shares traded on the trading session, decreased by 12.80 percent, to stand at Tk 553.6 crore.

The pharmaceuticals sector dominated the turnover chart, accounting for 17.69 percent of the day's total.

Additionally, block trades, which are large-volume securities transactions negotiated and executed privately, made up 8.2 percent of the day's total turnover.

Among individual stocks, Sonali Aansh Industries emerged as the most traded share of the day, with a turnover of Tk 25.4 crore.

Large-cap sectors posted a mixed performance with banking booking the highest gain of 0.98 percent, followed by non-bank financial institutions (NBFIs) (0.60 percent) and pharmaceuticals (0.50 percent), according to BRAC EPS Stock Brokerage.

Of sectors that suffered losses, food and allied fell 0.29 percent, fuel and power 0.66 percent, telecommunication 0.80 percent and engineering 1.70 percent.

UCB Stock Brokerage said jute, paper and printing, and banking were the top three sectors that closed in the positive.

Meanwhile, engineering, general insurance, and travel and leisure became the top three sectors that closed in the negative, it added.

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Stocks rise after falling for two days

Bangladesh's stock market rose today on falling for two days as investors made fresh bets on lucrative blue-chip and large-cap shares to pocket short-term gains amidst price movements.

A blue chip is a nationally or internationally recognised, well-established, and financially sound company that's publicly traded.

Large-cap shares refer to those of companies which account for large amounts in market capitalisation, which the total value of their outstanding shares.

The DSEX, the broad index of Dhaka Stock Exchange (DSE), grew 12.53 points, or 0.22 percent, from that on the day prior to close at 5,694.

Similarly, the DSES, the index that represents the Shariah-compliant firms, went up by 7.49 points, or 0.60 percent, to 1,245.

Meanwhile, the DS30, the index composed of the blue-chip companies, rose 8.37 points, or 0.40 percent, to 2,076.

At Chittagong Stock Exchange, the CASPI, the major index of the port city bourse, added 40 points, or 0.25 percent, to settle at 16,117.

Of the issues that changed hands on the DSE, prices of 156 rose, 224 closed lower and 59 did not witness any price fluctuations.

Shares of companies like Islami Bank Bangladesh, Beacon Pharmaceuticals, Olympic Industries, BRAC Bank, Kohinoor Chemicals, United Commercial Bank, IFIC Bank, LafargeHolcim Bangladesh, ADN Telecom, and Pragati Life Insurance drew investors the most, according to LankaBangla Financial Portal.

But none witnessed double-digit growth in share prices.

Despite the price fluctuations, a section of investors remains optimistic, with hopes that the interim government's ongoing reforms would bring long-term stability and growth to the capital market.

Another section is holding off on significant investments until corporate earnings reports are released, which will provide more clarity on the financial health of listed companies.

Islami Bank Bangladesh made the largest gain of 8.07 percent, closely followed by Beacon Pharmaceuticals (8.02 percent).

However, Renata, British American Tobacco Bangladesh, Grameenphone, Padma Oil Company, Al-Arafah Islami Bank, Robi Axiata, City Insurance, Beach Hatchery, Sea Pearl Beach Resort and Spa and Jamuna Oil Company suffered losses.

However, turnover, which refers to the total value of shares traded on the trading session, decreased by 12.80 percent, to stand at Tk 553.6 crore.

The pharmaceuticals sector dominated the turnover chart, accounting for 17.69 percent of the day's total.

Additionally, block trades, which are large-volume securities transactions negotiated and executed privately, made up 8.2 percent of the day's total turnover.

Among individual stocks, Sonali Aansh Industries emerged as the most traded share of the day, with a turnover of Tk 25.4 crore.

Large-cap sectors posted a mixed performance with banking booking the highest gain of 0.98 percent, followed by non-bank financial institutions (NBFIs) (0.60 percent) and pharmaceuticals (0.50 percent), according to BRAC EPS Stock Brokerage.

Of sectors that suffered losses, food and allied fell 0.29 percent, fuel and power 0.66 percent, telecommunication 0.80 percent and engineering 1.70 percent.

UCB Stock Brokerage said jute, paper and printing, and banking were the top three sectors that closed in the positive.

Meanwhile, engineering, general insurance, and travel and leisure became the top three sectors that closed in the negative, it added.

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