Political Shift Boosts Investor Confidence in Key Stocks
Investor confidence has surged, leading to increased buying interest in politically backed stocks following the resignation of Sheikh Hasina as Prime Minister. In two consecutive trading sessions, a dozen stocks experienced upward momentum. Notable gainers included Monno Group's companies: Monno Ceramic Industries (+10% to Tk83.60), Monno Agro & General Machinery (+8.75% to Tk501), and Monno Fabrics (+9.57% to Tk20.60). Other stocks with significant gains were Islami Bank Bangladesh PLC (+9.82% to Tk35.80), Dulamia Cotton Spinning (+9.87% to Tk69), and ACME Laboratories (+9.96% to Tk81.70). Conversely some stocks saw sharp declines due to the political changes. Beximco Pharmaceuticals, despite its blue-chip status, fell by 2.94% to Tk99.10. Other decliners included S Alam Cold Rolled Steels (-2.84%), Rupali Life Insurance (-2.93%), Summit Alliance Port (-2.93%), Deshbandhu Polymer (-2.96%), and Sea Pearl Beach Resort (-2.96%). Investors are avoiding these stocks amid the evolving political landscape.
