Islami Bank, Beximco Pharma propel DSEX higher, while blue-chip index dips

Large-cap stocks, including Islami Bank and Beximco Pharma, have propelled the Dhaka Stock Exchange's benchmark index, DSEX.

Conversely, the blue-chip index, DS30, experienced a decline due to selling pressure from investors, reflecting subdued market sentiment.

On Sunday, the DSEX rose by 18 points to close at 5,658, while the DS30 dipped by 2 points to 2,062. During the trading session, 153 issues advanced, 205 declined, and 39 remained unchanged. The market turnover fell by 9% to Tk481 crore, marking the lowest level in over a month.

Islami Bank was instrumental in driving the DSEX upward, with its share price rising by 5.3% and contributing 16.4 points to the index. It was followed by significant gains from Khan Brothers PP Woven Bag, Beximco Pharma, National Bank, and MJL Bangladesh.

In its daily market review, EBL Securities reported that the DSEX settled in positive territory, primarily driven by price appreciation in select large-cap stocks. However, market sentiment remains cautious as investors observe the waning momentum.

EBL Securities, in its daily market review, said the benchmark index of the Dhaka bourse managed to settle in green territory primarily driven by price appreciation in particular large-cap issues, although market sentiment remains subdued as cautious investors are watchful of the market's waning momentum.

Sector-wise, bank stocks accounted for the highest turnover at 34%, followed by pharmaceuticals at 11.9% and telecom at 8%. Grameenphone was the top traded company by value, with Tk32.79 crore, followed by Islami Bank at Tk28.87 crore, BRAC Bank at Tk26.48 crore, and MJL Bangladesh at Tk25 crore.

Mixed returns were observed across sectors, with services, IT, and general insurance showing the most positive performance, while jute, paper, and tannery sectors faced corrections.

Khan Brothers PP Woven Bag topped the gainers' list with a 9.62% share price increase, followed by First Security Islami Bank, Paramount Textile, Deshbandhu Polymer, and Shinepukur Ceramics. 

Meanwhile, Kattali Textile led the losers' list with a 16.54% drop after declaring only a 0.25% cash dividend for FY24, followed by Bd Thai Aluminium, Central Pharma, and VFS Thread.