BATBC pulls stocks up

Dhaka stocks gained on Sunday, extending their gaining streak for the fifth straight session, pulled up by mainly heavyweight companies.

The market began on a positive note in the morning and the momentum continued until close of the trade.

The benchmark DSEX index added 27 points or 0.36 per cent to close at 7,356, which is the highest since its launch in 2013.

The Shariah-based DSES index rose almost 2 points or 0.11 per cent to 1,593 and the blue-chip comprising DS30 index was up over 31 points or 1 per cent to 2,741.

The heavyweight companies helped the market close lower as investors booked profits on most companies.

British American Tobacco of Bangladesh (BATBC), the tobacco manufacturer multi-national company, contributed almost 19 points to the key index.

It gained almost 3 per cent to almost Tk 670. The company remained in the spotlight after it announced to invest Tk 322.20 crore in its Savar plant. The investment is expected to cater to the upcoming exports opportunities.

Beximco Ltd—the flagship company of the country’s business conglomerate Beximco Group—added more than 7 points to the key index. It rose 3.21 per cent, extending its gaining streak over the last few weeks.

Beximco Pharmaceuticals—one of the local drug makers—added 4.5 points to the index. It also continued to steal the show.

The DSE turnover stood at Tk 2,439 crore, slightly 2.52 per cent down from Tk 2,502 crore.

Pharmaceuticals, energy, engineering and non-banking financial institutions accounted for almost half of the total DSE turnover.

Fortune Shoes was the day's top gainer and trailed by Sonali Paper and Prime Finance. Eastern Insurance was the worst loser hitting the lower limit circuit breaker at almost 10 per cent.

Major contributions to total market volume came from Lafarge Holcim Bangladesh, Beximco Ltd, Orion Pharmaceuticals, Lanka Bangla Finance, Delta Life Insurance, Power Grid, National Housing Finance and Investment, and Beximco Pharmaceuticals.