Stocks opened higher on Tuesday, riding on the price appreciation in some selective stocks amidst the ongoing earnings declarations.
Following the previous day’s fall, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 20.28 points or 0.32 per cent to 6,327, 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 2.83 points to 2,229 and the DSE Shariah Index (DSES) rose 5.10 points to 1,382.
Turnover, another important indicator of the market, stood at Tk 2.33 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 declaration 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.
However, persistent market volatility makes some investors’ confidence shaky while participation is concentrated on a handful of selective stocks, said the stockbroker.
Most of the traded issues remained unchanged due to the ‘floor price’ restriction. Of the issues traded till then, 80 advanced, 18 declined and 183 issues remained unchanged on the DSE trading floor till then.
Bashundhara Paper Mills was the most traded stock till the filing of this report with shares worth Tk 270 million changing hands.
The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—rising 72 points to stand at 18,694 while the Selective Categories Index – CSCX– gained 44 points to reach 11,203, also at 10:30 am.
Of the issues traded till then, 34 gained, 9 declined and 62 remained unchanged with Tk 40 million.