Stocks opened higher on Thursday, after a seven-day slump, as bargain hunters were showing their buying interest in lucrative issues.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 29.26 points or 0.48 per cent to stand at 6,168, after the first hour of trading at 11:00 am.
Two other DSE indices saw a positive trend till then. The DS30 index, which consists of the blue-chip companies, gained 13.04 points to 2,219 while the DSES Index, which represents Shariah-based companies, rose 5.22 points to 1,351.
Turnover, another important indicator of the market, stood at Tk 1.91 billion after the first hour of trading.
Market insiders the bargain hunters came up to buy some of their wanted stocks at a lucrative price after a sharp correction in the last seven days.
However, some investors remained concerned about several macroeconomic issues such as the energy crisis, inflationary pressure and depreciating local currency, they said.
Meanwhile, Prime Minister Sheikh Hasina has advised the Bangladesh Securities and Exchange Commission (BSEC) to do the needful for keeping the country’s stock market stable.
The premier gave the advice when a BSEC delegation led by its Chairman Prof Shibli Rubayat-Ul Islam called on her on Wednesday and donated Tk 50 million to the PM's fund for flood-affected people.
Of the issues traded till then, 229 advanced, 93 declined and 54 issues remained unchanged on the DSE trading floor.
Robi Axiata was the most traded stock till the filing of this report with shares worth Tk 165 million changing hands, closely followed by Titas Gas, Beximco, Yeakin Polymer and ML Dyeing.
The Chittagong Stock Exchange also opened on a positive note with its All Shares Price Index (CASPI)—gaining 40 points to stand at 18,070 while the Selective Categories Index – CSCX – gained 24 points to reach 10,825, also at 11:00 am.
Of the issues traded till then, 43 advanced, 28 declined and seven remained unchanged with a turnover of Tk 19 million.