The market opened sharply higher on Thursday as investors continued to make fresh bets on major sector stocks amid high expectations.
Following the previous two days’ big gain, the market witnessed a positive trend this morning as DSEX, the prime index of the Dhaka Stock Exchange (DSE), crossed the 5,900-mark at opening.
Within the first 30 minutes of trading, the DSEX went up by 54.84 points or 0.93 per cent to reach 5,939 when the report was filed at 10:30 am.
Two other DSE indices saw an upward trend till then with the DS30 index, comprising blue chips, gained 4.80 points to reach 2,175 and the Shariah Index (DSES) rose 2.44 points to stand 1,273 points.
Turnover, another important indicator of the market, stood at Tk 5.45 billion within the first 30 minutes of trading at 10:30 am.
Market operators said lower returns from the money market, easing virus worries coupled with positive expectations from the upcoming budget, boosted the investors’ confidence in the market.
The high net worth investors have been injecting fresh funds into the market for the past few weeks targeting capital gains as returns from the money market declined significantly, said a leading merchant banker.
Of the issues traded till then, 150 declined, 124 advanced, and 55 remained unchanged on the DSE trading floor.
Northern General Insurance was the most traded stock till then with shares worth Tk 338 million changing hands, closely followed by Southeast Bank, IFIC Bank, Prime Bank and ONE Bank.
The port city bourse – the Chittagong Stock Exchange – (CSE) also opened sharply higher with CSE All Share Price Index- CASPI-gaining 118 points to stand at 17,188, also at 10:30 am.
Of the issues traded till then 146 advanced, 119 declined, and 29 remained unchanged with Tk 150 million in turnover.