Stocks opened marginally higher on Wednesday as investors showed their buying interest in sector-specific issues whose financial performance was immune from the recent macroeconomic adversities.
Turnover, another important indicator of the market, crossed the Tk 3.50 billion-mark after two hours of trading and amounted to Tk 3.68 billion at 12:00 noon.
Following the previous day’s rise, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 6.20 points or 0.10 per cent to 6,291, after the first two hours of trading.
Two other indices saw positive trends till then. The DS30 index, comprising blue chips, gained 2.95 points to 2,237 and the DSE Shariah Index (DSES) rose 1.68 points to 1,371.
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, 53 advanced, 111 declined, and 143 issues remained unchanged on the DSE.
Bangladesh Shipping Corporation became the most traded stock till then with shares worth Tk 468 million changing hands, followed by Shinepukur Ceramics, Genex Infosys, Orion Pharma and Olympic Industries.
The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—gaining 8 points to stand at 18,548 while the Selective Categories Index – CSCX rose 5 points to reach 11,119, also at 12:00 noon.