Beximco Pharma, Islami Bank lift equity index
The benchmark index of the country's premier bourse surged last week, driven by strong performances from Beximco Pharmaceuticals and Islami Bank.
The DSEX increased by 17 points in the week ending on Thursday, reaching 5,219 points, while the blue-chip index DS30 jumped by 26 points, finishing at 1,914.
The daily average turnover at the Dhaka Stock Exchange (DSE) stood at Tk407 crore, reflecting a 15% decrease from the previous week. Of the traded stocks, 193 advanced, 161 declined, and 42 remained unchanged, according to the bourse.
According to EBL Securities' weekly market review, Beximco Pharma led the charge by contributing 13.8 points to the index's rise, followed by Islami Bank with 4.2 points, Eastern Bank with 2.8 points, and Al-Arafah Islami Bank with 2.2 points.
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However, several key stocks weighed on the index, with United Commercial Bank leading the decline by subtracting 5.6 points. BRAC Bank followed closely with a drop of 2.1 points, while Khan Brothers PP Woven Bag decreased by 1.5 points.
In its weekly market commentary, EBL Securities said the benchmark index of the capital bourse returned to positive territory in the final week before the Eid vacation as buyers showed interest in certain scrips, particularly those that had undergone significant corrections following the major political shift.
The market opened the week on a dismal note as investors continued to sell off their holdings and observe market momentum amid political concerns, it added.
However, buyers later stepped in to capitalise on the corrections and rebalance their portfolios ahead of the quarter-end, leading the benchmark index to witness a three-session gaining streak, EBL Securities noted.
On the sectoral front, pharmaceutical stocks accounted for the highest turnover at 19.6%, followed by engineering at 10.9% and textiles at 9.9%.
Orion Infusion was the top-traded company in terms of value, with a daily average turnover of Tk27.66 crore, followed by Beximco Pharma at Tk23.10 crore and Shinepukur Ceramics at Tk13.93 crore.
Sectors experienced mixed returns, with mutual funds, pharmaceuticals, and non-bank financial institutions posting the most significant gains, while paper, IT, and textiles were the biggest losers.
AB Bank First Mutual Fund led the gainers' list with an 18.42% increase, reaching Tk4.50 per unit, followed by First Finance with a 14.71% gain and Beximco Pharma with a 13.65% rise.
Meanwhile, EBL First Mutual Fund topped the losers' list with a 12.12% drop, bringing its unit price down to Tk5.80, followed by United Commercial Bank with a 9.09% decline to Tk11 per share and Indo-Bangla Pharma, down 7.52% to Tk12.30 per share.
