Stocks opened sharply higher on Wednesday as the buoyant investors were seen putting fresh bets on June-closing stocks, particularly on power and pharma sector issues.
After witnessing high volatility in the past two days, the market opened higher this morning with the DSEX soaring 58.17 points or 0.79 per cent to stand at 7,389 points after the first 30 minutes of trading at 10:30 am.
Two other DSE indices also saw an upbeat trend till then. The DS30 index, comprising blue chips, rose 15.60 points to stand at 2,797 and the Shariah Index (DSES) gained 7.94 points to stand at 1,602 points.
Turnover, another important indicator of the market, also jumped to Tk 5.85 billion within the first 30 minutes of trading at 10:30 am.
Market analysts said investors are now focusing on June-closing stocks ahead of corporative and dividend declarations.
Large-cap stocks such as Power Grid Company, Titas Gas, Square Pharma, Orion Pharma and Beximco led the rise of the index till then.
Of the issues traded till then, 254 advanced, 61 declined, 44 issues remained unchanged on the DSE trading floor.
Orion Pharma was the most traded stock till the filing of this report with shares worth Tk 737 million changing hands, closely followed by Power Grid, LafargeHolcim, Beximco and Paramount Textile.
The Chittagong Stock Exchange also opened sharply higher with its All Shares Price Index (CASPI)—rising 160 points to stand at 21,593 while the Selective Categories Index – CSCX gaining 105 points to reach 12,977, also at 10:30 am.
Of the issues traded till then 94 declined, 34 advanced and 17 remained unchanged with Tk 140 million in turnover.