Stocks opened higher on Thursday, riding on the price appreciation in some selective stocks amidst the ongoing earnings declarations.
Following the previous day’s gain, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 21.72 points or 0.34 per cent to 6,366, after the first hour of trading at 10:30 am.
Two other DSE indices saw a positive trend till then. The DS30 index, comprising blue chips, gained 6.81 points to 2,255 and the DSE Shariah Index (DSES) rose 4.20 points to 1,397.
Turnover, another important indicator of the market, stood at Tk 2.95 billion after the first hour of trading at 10:30 am.
Market operators said the bargain hunters showed their buying interest in selective stocks while some investors were busy rebalancing their portfolios amid the ongoing corporate declarations sessions.
The investors showed their interest in some sector-specific issues which were being traded at a lucrative price level amidst the ongoing earnings declarations, said a stockbroker.
“Investors were optimistic regarding a quick resolution of the issue related to purchasing stocks before cheque encashment,” said the stockbroker.
Of the issues traded till then, 58 advanced, 47 declined and 166 issues remained unchanged on the DSE trading floor.
Sonali Paper & Board Mills was the most traded stock till the filing of this report with shares worth Tk 446 million changing hands.
The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—rising 57 points to stand at 18,735 while the Selective Categories Index – CSCX – gaining 35 points to reach 11,228, also at 10:30 am.
Of the issues traded till then, 30 gained, 13 declined and 39 remained unchanged with Tk 22 million.