The stock market opened on a strong note on Sunday, driven by buying interest in large-cap stocks and fundamentally strong companies, while tax rebate incentives further enhanced the appeal of equity investments and boosted overall investor confidence.

The benchmark DSEX index of the Dhaka Stock Exchange (DSE) gained 48 points, or 0.84 per cent, to reach 5,700 by 11:30 am, reflecting strong upward momentum in the market.

Market participants said investors remained optimistic about further market development, while easing concerns over shipping disruptions through the Strait of Hormuz also contributed to improved sentiment. Renewed buying interest in selected blue-chip and fundamentally sound stocks helped sustain the market's positive trend.

Beximco attracted significant investor attention, with its share price surging 9.86 per cent to Tk 31.20. The rally came after the stock had undergone a nearly 75 per cent correction following the removal of its floor price on June 9. The company also topped the turnover chart, with shares worth Tk 996 million changing hands.

Investor sentiment received an additional boost after trading in the Global Depository Receipts (GDRs) of Beximco Pharmaceuticals resumed on the London Stock Exchange (LSE) on Friday. The exchange had previously suspended trading due to delayed financial reporting.

Turnover on the premier bourse reached Tk 5.25 billion during the first one and a half hours of trading, reflecting robust investor participation.
Market breadth remained firmly positive. Of the issues traded by 11:30 am, 241 advanced, 73 declined, and 76 remained unchanged, indicating broad-based buying across sectors.

The Chittagong Stock Exchange (CSE) also witnessed a positive start to the trading session. Its benchmark CASPI index rose 98 points to 15,024, while the CSCX index gained 61 points to 9,324 in early trading.

babulfexpress@gmail.com