The prime index of the Dhaka Stock Exchange (DSE) crossed the 6200-mark in the early trading on Tuesday as the bargain hunters put fresh bets on lucrative stocks riding on regulatory support.
The continuous fall of stock prices compelled the Bangladesh Securities and Exchange Commission (BSEC) to impose ‘floor price’ on all securities on Thursday.
Following the previous two days’ rise, DSEX, the prime index of the DSE, went up by 47.86 points or 0.78 per cent to stand at 6,212, after the first two hours of trading at 12:00 noon.
Two other DSE indices saw an upward trend till then. The DS30 index, which consists of the blue-chip companies, rose 16.82 points to 2,221 while the DSES Index, which represents Shariah-based companies, gained 7.81 points to 1,355.
Turnover, another important indicator of the market, stood at Tk 4.93 billion after the first two hours of trading.
Market operators said the bargain hunters showed their buying interest on stocks at a lucrative price after the recent steep correction.
The market witnessed a substantial increase in participation as the investors put fresh funds on lucrative issues hoping that the market will not fall further due to the floor price mechanism, said a merchant banker.
Of the issues traded till then, 252 advanced, 51 declined and 79 issues remained unchanged on the DSE trading floor.
Beximco was the most traded stock till the filing of this report with shares worth Tk 526 million changing hands, closely followed by Malek Spinning, Fortune Shoes, BSC and Sonali Paper.
The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—gaining 80 points to stand at 18,192 while the Selective Categories Index – CSCX – gained 48 points to reach 10,899, also at 12:00 noon.
Of the issues traded till then, 107 advanced, 41 declined and 64 unchanged with a turnover of Tk 69 million.
