Stocks opened higher on Tuesday, after the previous day’s reduced trading hours due to a technical glitch, as bargain hunters showed their buying interest in lucrative issues.
A technical glitch disrupted trading activities on Dhaka Stock Exchange (DSE) on Monday, forcing the authorities to reduce the trading time to only 1:43 hours instead of the regular 4:20 hours.
Following the previous day’s fall, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 33.62 points or 0.53 per cent to 6,341, after the first one and a half hours of trading at 11:00 am.
Two other DSE indices also saw a positive trend till then. The DS30 index, comprising blue chips, gained 10.35 points to 2,255 and the DSE Shariah Index (DSES) rose 10.37 points to 1,395.
Turnover, another important indicator of the market, stood at Tk 2.44 billion till then.
Market insiders market witnessed a slow turnover as some investors followed a cautious stance ahead of corporate declarations while others took the opportunity of buying stocks at lucrative prices.
Share prices of more than 200 companies remained stuck at their floor prices while a few companies have dominated the market for the last few weeks, said a merchant banker.
Of the issues traded till then, 95 advanced, 13 declined and 208 issues remained unchanged on the DSE trading floor.
Beximco was the most traded stock till the filing of this report with shares worth Tk 290 million changing hands.
The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—rising 37 points to stand at 18,670 while the Selective Categories Index – CSCX – gained 22 points to reach 11,189, also at 11:00 am.
Of the issues traded till then, 35 gained, 21 declined and 54 remained unchanged with Tk 23.35 million.