Stocks witnessed an upward trend in the early hours of trading on Wednesday as optimistic investors were showing their appetite on sector-wise issues.
Following the previous day’s modest correction, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) saw the uptrend at opening.
Within the first 15 minutes of trading, DSEX, the key index of the DSE, advanced 12 points while the CSE All Share Price Index (CASPI) of the port city’s bourse gained 50 points at 10:15am.
After 30 minutes of trading, the DSEX advanced 19.90 points while the CASPI managed 75 points at 10:30am when the report was filed.
The DSEX went up by 19.90 points or 0.41 per cent to reach at 4,882 points at that time.
Market operators said investors remain active on sector-wise issues amid optimism as the stock market regulator took some initiatives to bring reforms to the Z category companies which came into effect from today.
As per the regulatory guideline issued on Tuesday, the Z category stock settlement cycle now T plus three instead of T plus nine from Wednesday.
The stock market regulator dictated that the companies that have been in the ‘Z’ category for the last two years would have to reconstitute their existing board of directors.
Meanwhile on the Dhaka bourse, two other indices also saw positive trend till filing of this report. The DS30 index, comprising blue chips, gained 4.88 points to reach at 1,701 points while the DSE Shariah Index (DSES) rose 3.27 points to reach 1,134 points till then.
Turnover, one of the important indicators of the market, stood at Tk 1.49 billion when the report was filed at 10:30am which was Tk 1.25 billion in the previous day at the same time.
Of the issues traded till then, 218 advanced, 60 declined, and 47 remained unchanged.
Beximco was the most traded stock till then with shares worth Tk 165 million changing hands, closely followed by Beximco Pharma, Hakkani Pulp & Paper, Bangladesh Finance and Express Insurance.
The Chittagong Stock Exchange also saw a positive trend till then with the CASPI gaining 75 points to stand at 13,934, also at 10:30am.
The Selective Category Index (CSCX) also rose 32 points to stand at 8,402 points till then.
Of the issues traded till then, 75 gained, 16 declined, and 18 issues remained unchanged with Tk 33 million in turnover.