Stocks opened higher on Thursday as bargain hunters maintained their buying interest on heavyweight banking sector issues.
Following the previous day’s modest rise, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 36.76 points or 0.52 per cent to stand at 7,042 points within the first hour of trading at 11:00 am.
Market insiders said investors are optimistic and taking positions on stocks, particularly in banking sector issues based on the latest quarterly earnings declarations.
The DS30 index, comprising blue chips, also gained 1.16 points to stand at 2,638 at 11:00 am. However, the Shariah Index (DSES) fell 2.83 points to stand at 1,478 points till then.
Turnover, another important indicator of the market, stood at Tk 4.07 billion within the first hour of trading at 11:00 am.
Of the issues traded till then, 173 advanced, 165 declined and 31 issues remained unchanged on the DSE trading floor.
IFIC Bank was the most traded stock till the filing of this report with shares worth Tk 488 million changing hands, closely followed by Beximco, Saif Powertec, Orion Pharma, and BATBC.
The Chittagong Stock Exchange also opened on a positive trend with its All Shares Price Index (CASPI)—gaining 74 points to stand at 20,527 while the Selective Categories Index – CSCX advanced 48 points to reach 12,333, also at 11:00 am.
Of the issues traded till then, 88 advanced, 69 declined and 18 remained unchanged with Tk 131 million in turnover.