Stock market surges before announcement of verdict against Hasina

Bangladesh’s stock market rallied sharply on Monday, November 17, coinciding with the announcement of the verdict in the case against ousted former Prime Minister Sheikh Hasina, who was tried for crimes against humanity allegedly committed during the July-August uprising.

Both the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) recorded broad gains across most listed companies, lifting all major indices and boosting overall turnover.

Trading began hours before the verdict proceedings commenced at around 12:30pm. Early in the session, share prices dipped, pushing the DSE’s key index down by 16 points. However, sentiment reversed noticeably after 11am, with a wave of buying shifting large numbers of companies from the losers’ list to the gainers’ list – a trend that continued until the closing bell.

By the end of the session, 322 companies on the DSE had posted price gains, while 35 declined and 16 remained unchanged. Among companies that pay dividends of 10 per cent or higher, 170 advanced, compared to 27 that fell and 8 that saw no movement. In contrast, 65 companies offering lower dividends gained, while only 3 declined.

Shares of companies in the ‘Z’ category – those that did not pay dividends – also rose sharply, with 87 firms advancing and only 5 declining. Of the 35 mutual funds, 33 posted gains.

The DSE’s benchmark index, DSEX, climbed 42 points to close at 4,774. The DSE Shariah Index gained 15 points to reach 1,000, while the DSE-30 Index rose 9 points to settle at 1,869.

Turnover on the DSE surged to Tk 3,485 crore, up from Tk 2,981 crore the previous day—an increase of Tk 499.5 crore. Square Pharmaceuticals topped the turnover chart with trades worth Tk 149.7 crore, followed by Anwar Galvanizing at Tk 127.7 crore and Khan Brothers PP Woven Bag at Tk 10.72 crore.

Other companies in the day’s top 10 turnover list included Runner Automobiles, Orion Infusion, Lovello Ice Cream, Simtex Industries, Summit Alliance Port, Baraka Patenga Power, and Monospool Bangladesh.

The CSE also rebounded after 11 consecutive days of losses. Its key index, CASPI, rose 41 points, with 100 of the 156 traded companies posting gains. Turnover leapt to Tk 14.6 crore, up sharply from Tk 4.76 crore in the previous session.