Stocks opened higher on Wednesday as investors were putting fresh bets on the lucrative issues.
Following the previous two days’ upturn, DSEX, the prime index of the DSE, went up by 31.50 points or 0.507 per cent to stand at 6,257, after the first hour of trading at 11:00 am.
Two other DSE indices saw positive trends till then. The DS30 Index, which consists of blue-chip companies, rose 8.88 points to 2,221 while the DSES Index, which represents Shariah-based companies, gained 7.88 points to 1,369.
Turnover, another important indicator of the market, soared to Tk 3.76 billion after the first hour of trading.
Market insiders said the declining oil price in the global market coupled with the slight improvement in the foreign exchange rate riding on Bangladesh Bank’s recent move tamed the investors’ pessimism to some extent.
Besides, media reports quoting the International Monetary Fund’s spokesperson, saying Bangladesh is not in a crisis mode, also boosted the investors’ confidence in the market, said a leading broker.
Of the issues traded till then, 226 advanced, 50 declined and 89 issues remained unchanged on the DSE trading floor.
Fortune Shoes was the most traded stock till the filing of this report with shares worth Tk 415 million changing hands, closely followed by Beximco, BSC, LafargeHolcim and Malek Spinning Mills.
The Chittagong Stock Exchange also saw an upward trend till then with its All Shares Price Index (CASPI)—rising 52 points to stand at 18,366 while the Selective Categories Index – CSCX – rose 32 points to reach 11,003, also at 11:00 am.
Of the issues traded till, then 68 advanced, 24 declined and 47 remained unchanged with a turnover of Tk 62 million.