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Stocks opened higher on Tuesday, after a two-day big fall, as bargain hunters were showing their buying interest on lucrative issues.
Following the previous two days’ sharp decline, DSEX, the prime index of the Dhaka Stock Exchange (DSE), soared 60 points to 6,859 within the first 30 minutes of trading at 10:30 am.
However, the rise of the index slowed down as the session progressed. The DSEX went up by 22.97 points or 0.33 per cent to stand at 6,822 points after the first hour of trading when the report was filed at 11:00 am.
Two other DSE indices saw positive trends till then. The DS30 index, comprising blue chips, gained 9.13 points to stand at 2,592 and the Shariah Index (DSES) rose 7.20 points to stand at 1,444 points till then.
Turnover, another important indicator of the market, stood at Tk 1.97 billion within the first hour of trading at 11:00 am.
Market insiders said the bargain hunters are showing their buying interest on sector-specific stocks as most of the stocks nosedived over 5.0 per cent to 10 per cent in the recent price correction.
However, the cautious investors continued to cash in on stocks while some investors remained on the sidelines, they said.
Of the issues traded till then, 191 advanced, 88 declined and 68 issues remained unchanged on the DSE trading floor.
Beximco was the most traded stock till then with shares worth Tk 238 million changing hands, closely followed by Orion Pharma, Square Pharma, LafargeHolcim and Kattali Textile.
The Chittagong Stock Exchange saw a positive trend till then with its All Shares Price Index (CASPI)—gaining 65 points to stand at 19,933 while the Selective Categories Index – CSCX rose 39 points to reach 11,976, also at 11:00 am.
Of the issues traded till then, 55 advanced, 41 declined, and 25 remained unchanged with Tk 30 million in turnover.
(FE)
