Stocks witnessed a steep rise at opening on Wednesday as the buoyant investors continued their buying spree on major sector shares amid high expectations.
Following the previous day’s upward trend, DSEX, the prime index of the Dhaka Stock Exchange (DSE), climbed 95.10 points or 1.47 per cent to stand at 6,566, after the first two hours of trading at 11:30am.
Two other indices also saw upbeat trends till then. The DS30 index, comprising blue chips, rose 47.14 points to reach 2,353 and the DSE Shariah Index (DSES) jumped 27.20 points to 1,446.
Turnover, another important indicator of the market, stood at Tk 11.28 billion after two hours of trading.
Market insiders said the market remained bullish amidst enthusiastic participation as the investors are more confident to put fresh bets anticipating positive momentum ahead.
The investors kept their buying binge amid upcoming dividends expectations as they expect strong earnings for the companies whose financial year ended in June, said a merchant banker.
Besides, the recovery signs on the macroeconomic front, particularly stability in the foreign exchange rates, rising export, increasing remittance inflow as well as declining imports, encouraged investors to remain in the trading floor, he said.
Of the issues traded till then, 197 advanced, 70 declined and 105 issues remained unchanged on the DSE trading floor.
Orion pharma became the most traded stock till then with shares worth Tk 1.95 billion changing hands.
The Chittagong Stock Exchange also saw a sharp rise till then with its All Shares Price Index (CASPI)—rising 270 points to stand at 19,259 while the Selective Categories Index – CSCX rose 163 points to reach 11,544, also at 11:30am.
Of the issues traded till then 104 advanced, 60 declined and 50 remained unchanged with turnover of Tk 176 million till then.
