Stocks opened marginally higher on Thursday as investors showed their buying interest in sector-specific issues whose financial performance was not affected by recent macroeconomic challenges.
Turnover, another important indicator of the market, crossed the Tk 2.0 billion-mark after the first hour of trading and amounted to Tk 2.08 billion at 11:00 am.
Following the previous day’s rise, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 12 points or 0.19 per cent to 6,289, after the first hour of trading at 11:00 am.
Two other DSE indices saw a positive trend till then. The DS30 index, comprising blue chips, gained 5.26 points to 2,229 and the DSE Shariah Index (DSES) rose 3.78 points to 1,373.
Market insiders said the buying spree on selective issues offered a marginal recovery to the market, allowing the core index to stay afloat.
Investors continued their portfolio rebalancing in response to the earnings disclosures of the listed companies for the latest quarter.
Most of the traded issues remained stuck at the ‘floor price’. Of the issues traded till then, 66 advanced, 91 declined, and 101 issues remained unchanged on the DSE.
Genex Infosys was the most traded stock till the filing of this report with shares worth Tk 300 million changing hands.
The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—gaining 19 points to stand at 18,559 while the Selective Categories Index – CSCX – rose 12 points to reach 11,125, also at 11:00 am.
Of the issues traded till then, 24 declined, 14 gained, and 24 remained unchanged with Tk 21 million in turnover.