The prices of most of the shares on bourses witnessed a positive trend in the early hour of trading Tuesday as optimistic investors continued their buying appetite on sector-wise issues.
The presence of investors was rather thin in the brokerage houses as many of them have yet to return to Dhaka. However, many of these investors executed trade through phone.
Within the first 30 minutes of trading, DSEX, the key index of DSE, advanced more than 10 points while the Selective Category Index of the port city bourse gained 5.0 points at 11:00am when the report was filed.
The DSEX went up by 10.82 points or 0.25 per cent to stand at 4,282 points at that time.
Two other indices also witnessed gains till then. The DS30 index, comprising blue chips, gained 2.42 points to reach at 1,445 while the DSE Shariah Index rose 4.52 points to stand at 997.
Turnover, one of the important indicators of the market, stood at Tk 1.75 billion on DSE when the report was filed at 11:00am.
Market operators said the central bank’s expansionary monetary policy statement, gradual reopening of the economy coupled with downward trend in daily Covid-19 infected cases led investors to take position in sector-wise stocks.
The Bangladesh Bank recently unveiled an expansionary monetary policy for current fiscal year lowering the borrowing costs to boost up the money flow for revamping the pandemic-hit economic activities, particularly private sector credit growth and the country’s ailing capital market.
Gradual reopening of the economy and the stock market regulator’s assurance not to lift the floor price restriction until the market gets stable led investors for buying shares, said a merchant banker.
Of the issues traded till then, 150 advanced, 73 declined and 108 remained unchanged on the DSE floor.
Pioneer Insurance was the most traded stock till filing of this report with shares worth Tk 81 million changing hands, followed by Silco Pharma, Indo-Bangla Pharma, LafargeHolcim and Active Fine Chemicals.
The Chittagong Stock Exchange (CSE) also saw a positive trend till then with the CASPI advancing 13 points to stand at 12,131 points, also at 11:00am.
The Selective Category Index (CSCX) also gained 5.40 points to stand at 7,353 points till then.
Of the issues traded till then, 47 advanced, 35 declined and 57 issues remained unchanged with Tk 27 million in turnover.