BNP-linked stocks jump in first two hours of trading, Jamaat-linked shares fall

The Dhaka Stock Exchange witnessed a sharp rally in the first two hours of trading today (15 February), driven by investor optimism following the landslide victory of the BNP in the 13th national election.

The benchmark DSEX index advanced 169 points to 5,569 by 12:20pm, while turnover reached Tk714 crore, reflecting heightened trading activity.

Market insiders said investor confidence fuelled the strong performance after the BNP secured a parliamentary majority and is set to form the next government.

Shares of companies linked to BNP leaders and sponsors led the rally.

National Bank surged 9.76% to Tk4.50. The lender is associated with businessman Abdul Awal Mintoo, who won the Feni-3 seat as a BNP candidate in the election.

Mintoo's other listed company, Kay & Que, rose 5.22% to Tk455.3. Pragati Insurance gained 4.33% to Tk79.6, while Dulamia Cotton Spinning Mills climbed 2.95% to Tk136.1.

Dhaka Bank jumped 9.63% to Tk14.8. BNP leader Mirza Abbas, who won from Dhaka-8, is a sponsor shareholder of the bank, and his son serves as a director.

Textile manufacturer Monno Fabrics soared 9.87% to Tk24.5. Its chairman, Afroza Khanom, won from Manikganj as a BNP candidate. 

Sister concern Monno Ceramic advanced 7.93% to Tk89.8, while Monno Agro and General Machinery rose 4.73% to Tk387.8.

Other BNP-linked stocks, including ACME Laboratories, Quasem Industries, and Dacca Dyeing and Manufacturing Company, also posted notable gains during the session.

In contrast, shares of companies perceived to be linked to the Jamaat-e-Islami moved in the opposite direction. 

Islami Bank Bangladesh fell 2.3% to Tk50.9, while Ibn Sina Pharmaceutical Industry declined 2.4% to Tk338.

Traders said the election outcome has significantly influenced investor sentiment, with the BNP's sweeping victory boosting buying interest in stocks associated with party leaders and sponsors, while shares tied to rival political affiliations faced selling pressure.