Stocks rose steeply in the early hours of Tuesday trading sending the DSE key index above the 4800-mark, as the enthusiastic investors maintained their buying interest on selective large-cap shares.
Brokers said the government’s special fund support, lowering banks’ deposit rates, slashing interest rates on postal saving scheme and move to offload shares of some state-owned entities boosted investors’ confidence.
The news that the amount of troubled loans in the banking system shrank by nearly 19 per cent to Tk 943.31 billion as of December 31, the fourth quarter of 2019, aided by the special facilities central bank offered to defaulters, also encouraged investors, said a leading broker.
Following the previous five days’ gain, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened higher today amid rising trading activities.
After 30 minutes of trading, DSEX advanced more than 54 points while the CSE All Share Price Index (CASPI) of port city’s bourse rose 170 points at 11:00am when the report was filed.
DSEX, the prime index of the DSE, went up by 54.22 points or 1.13 per cent to stand at 4,822 points at 11:00am.
Two other indices also saw an upward trend till then. The DS30 index, comprising blue chips, rose 17 points to reach at 1,616 while the DSE Shariah Index gained 15 points to stand at 1,099 points till then.
Turnover, one of the important indicators of the market, stood at Tk 2.0 billion on DSE when the report was filed at 11:00am.
LafargeHolcim was the most traded stocks till then with shares worth Tk 82 million changing hands, closely followed by Summit Power, National Tubes, Khulna Power, and Grameephone.
Of the issues traded till then, 267 advanced, 32 declined, and 29 remained unchanged on the DSE trading floor.
The Chittagong Stock Exchange (CSE) also saw a positive trend till then with the CASPI gaining 170 points to stand at 14,700 points, also at 11:00am.
The Selective Category Index (CSCX) also rose 103 points to stand at 8,920 points till then.
Of the issues traded till then, 109 advanced, 16 declined, and 9 issues remained unchanged with Tk 48 million in turnover.
