Stocks opened higher on Wednesday, with the key index of the major bourse crossing the 7000 points mark, as investors put fresh bets on large-cap stocks based on the latest quarterly earning declarations.
Following the previous day’s strong comeback, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 54.75 points or 0.78 per cent to stand at 7,052, after the first hour of trading at 11:00am.
Two other indices also saw an upward trend. The DS30 index, comprising blue chips, rose 19.70 points to reach 2,608 and the Shariah Index (DSES) gained 13.46 points to stand at 1,510
Turnover, another important indicator of the market, stood at Tk 3.35 billion within the first hour of trading as against Tk 3.12 billion in the first hour of trading the previous day.
Market analysts said higher than expected earnings and dividend declarations of some listed companies encouraged the investors to put fresh funds on stocks.
Of the issues traded till then, 267 advanced, 49 declined, and 51 issues remained unchanged on the DSE trading floor till then.
Bangladesh Shipping Corporation was the most traded stock till then with shares worth Tk 270 million changing hands, closely followed by Orion Pharma, Beximco, RAK Ceramic, Bangladesh Building Systems and Power Grid Company.
The Chittagong Stock Exchange also opened sharply higher with its All Shares Price Index (CASPI)—gaining 151 points to stand at 20,673, while the Selective Categories Index – CSCX rising 90 points to reach 12,423 at 11:00am.
Of the issues traded till then 100 advanced, 20 declined, and 17 remained unchanged with Tk 78 million in turnover.