Stocks opened higher on Sunday, with turnover crossing Tk 11 billion-mark after two hours, as the buoyant investors put fresh bets on major sector shares.
Following the previous week’s upward trend, DSEX, the prime index of the DSE, went up by 59.95 points or 0.94 per cent to stand at 6,415, after the first two hours of trading at 11:30am.
Two other indices also saw positive trends till then. The DS30 index, comprising blue chips, advanced 14.84 points to finish at 2,282 and the DSE Shariah Index (DSES) gained 8.31 points to close at 1,399.
Turnover, another important indicator of the market, jumped to Tk 11.37 billion after the first two hours of trading.
Market insiders said the investors’ confidence remained high amid stability in the foreign exchange market due to the central bank’s steps.
The general investors increased their participation hoping that the market will not fall further due to regulatory assurance to keep the ‘floor price’ in place until further order, said a merchant banker.
Gradual stability of the exchange rate through different measures taken by the central bank along with discussion regarding import of fuel from Russia positively impacted the investors’ sentiment, he said.
Of the issues traded till then, 254 advanced, 58 declined and 69 issues remained unchanged on the DSE trading floor.
Orion pharma became the most traded stock till then with shares worth Tk 795 changing hands.
The Chittagong Stock Exchange also saw an upward trend till then with its All Shares Price Index (CASPI)—rising 204 points to stand at 18,847 while the Selective Categories Index – CSCX rose 123 points to reach 11,295, also at 11:30am.
Of the issues traded till then 178 advanced, 25 declined and 56 remained unchanged with a turnover of Tk 184 million till then.
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