Stocks opened higher on Thursday, with the key index crossing the 6500-mark, as the optimistic investors continued their buying binge on major sector shares amid high expectations.
Following the previous day’s upward trend, DSEX, the prime index of the DSE, went up by 48.38 points or 0.75 per cent to stand at 6,505, after the first 90 minutes of trading at 11:00am.
Two other indices also saw positive trends till then. The DS30 index, comprising blue chips, rose 18.85 points to finish at 2,301 and the DSE Shariah Index (DSES) gained 9.13 points to close at 1,407.
Turnover, another important indicator of the market, stood at Tk 7.68 billion after the first one and a half hours of trading.
Market insiders said the recovery signs on the macroeconomic front, particularly foreign exchange market stability, rising private sector credit growth coupled with reduction of fuel price kept the investors afloat.
The floor price restriction contributed most in the recent price surge as many investors regained confidence over the market as it did not allow the index to fall below a certain level, said a leading broker.
Of the issues traded till then, 202 advanced, 82 declined and 95 issues remained unchanged on the DSE trading floor.
Beximco became the most traded stock till then with shares worth Tk 710 million changing hands.
The Chittagong Stock Exchange also saw an upward trend till then with its All Shares Price Index (CASPI)—rising 176 points to stand at 19,182 while the Selective Categories Index – CSCX rose 106 points to reach 11,496, also at 11:00am.
Of the issues traded till then 126 advanced, 66 declined and 47 remained unchanged with a turnover of Tk 195 million till then.