Stocks extend gaining momentum

Share markets in Bangladesh extended its gaining momentum today as investors made fresh bets on blue-chip stocks on the second day since the fall of the Sheikh Hasina-led Awami League government on July 5.

Blue-chip firms such as Square Pharmaceuticals, BAT Bangladesh, BRAC Bank, Islami Bank Bangladesh, Grameenphone, LafargeHolcim Bangladesh, Renata, City Bank, Olympic Industries and Robi Axiata displayed scintillating performance today.

Of them, Square Pharmaceuticals, BAT Bangladesh, BRAC Bank, Islami Bank Bangladesh, Grameenphone, LafargeHolcim Bangladesh and Renata posted double-digit growth in share price where Square and BAT Bangladesh respectively contributed 29.27 percent and 19.69 percent of the day's total market turnover, according to the LankaBangla Finance Portal.

As a result, the benchmark index of the Dhaka Stock Exchange (DSE), the DSEX, soared 192.37 points, or 3.54 percent from the previous day to close at 5,618.79, marking the rise for the second successive day.

Similarly, the DSES index for the Shariah-based companies, edged up 42.53 points, or 3.61 percent, to 1,219.14 while the DS30 index that comprises of the blue-chip firms, surged 87.43 points, or 4.52 percent, to 2,022.17.

Turnover, which indicates the total value of shares changing hands on the trading floor of the country's premier bourse, increased 3.41 percent to Tk 776 crore, the highest in about one month.

Of the issues that changed hands on the DSE, 266 advanced, 114 declined and 16 did not witness any price fluctuation.

Non-bank financial institutions, telecom, and food & allied are the top three sectors that closed in the positive territory while jute, travel & leisure and paper & printing become the top three sectors that closed in the negative territory.

The pharmaceuticals sector dominated the turnover chart covering 15.31 percent of the day's total turnover.

The Chittagong Stock Exchange also saw the uprising trend with its all-share price index, the prime index of the port city bourse, growing by 545.10 points, 3.54 percent, to settle at 15,938.25.