Stocks opened sharply higher on Monday as the investors were putting fresh funds on large-cap issues amid high expectations.
Following the flying start of the year on the previous day, DSEX, the prime index of the Dhaka Stock Exchange (DSE), rose 59.96 points or 0.87 per cent to stand at 6,913, after the first hour of trading at 11:00 am on Monday.
Two other DSE indices also saw an upward trend till then. The DS30 index, comprising blue chips, soared 21.64 points to reach 2,582 points and the Shariah Index (DSES) rose 9.70 points to stand at 1,455.
Market analysts said most of the investors, including the institutional ones, are in a buying mood on major sector stocks amid high optimism in the New Year.
Turnover, another important indicator of the market, stood at Tk 3.57 billion within the first hour of trading at 11:00 am.
Of the issues traded till then, 291 advanced, 46 declined, and 28 issues remained unchanged on the DSE trading floor.
Beximco was the most traded stock till the filing of this report with shares worth Tk 436 million changing hands, closely followed by Bangladesh Shipping Corporation, Fortune Shoes, Power Grid and Lovello Ice-cream.
The Chittagong Stock Exchange opened sharply higher with its All Shares Price Index (CASPI)—soaring 141 to stand at 20,196, while the Selective Categories Index – CSCX rising 82 points to reach 12,129, also at 11:00 am.
Of the issues traded till then, 109 advanced, 24 declined, and 15 remained unchanged with Tk 66 million in turnover.