Stocks opened higher on Sunday as the optimistic investors are putting fresh bets on sector specific issues based on the latest quarterly earning declarations.
Following the previous week’s flat ending, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 25.83 points or 0.36 per cent to stand at 7,049, after the first hour of trading at 11:00am.
Two other indices also saw positive trends till then. The DS30 index, comprising blue chips, advanced 6.58 points to reach 2,598 and the Shariah Index (DSES) gained 3.02 points to stand at 1,507.
Turnover, another important indicator of the market, stood at Tk 3.18 billion within the first hour of trading as against Tk 3.17 billion in the first hour of trading of the previous day.
Market insiders said the buoyant investors are putting fresh funds in sector-wise stocks that reported higher profit growth in the latest quarterly earnings disclosures.
Investors hope that the economic activities of the country will continue as usual riding on favourable macroeconomic indicators, according to a merchant banker.
The investors remained upbeat as some listed companies posted higher-than-expected quarterly earnings results, he said.
Of the issues traded till then, 197 advanced, 99 declined, and 67 issues remained unchanged on the DSE trading floor till then.
British American Tobacco Bangladesh was the most traded stock till then with shares worth Tk 340 million changing hands, closely followed by Union Bank, Bangladesh Building Systems, Bangladesh Shipping Corporation and Beximco.
The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—gaining 69 points to stand at 20,645, while the Selective Categories Index – CSCX rising 41 points to reach 12,400 at 11:00am.
Of the issues traded till then 74 advanced, 47 declined, and 25 remained unchanged with Tk 76 million in turnover.
