Stocks opened higher on Sunday as the bargain hunters showed their buying appetite on sector-wise stocks following eased political tension to some extent as BNP rally held peacefully on Saturday.
Market insiders, however, said most investors chose to remain on the sidelines amid the ongoing economic adversities while participation of investors remained thin as liquidation opportunities squeezed for 82 per cent shares due to floor price restriction.
The market started on a positive note and the DSEX, the prime index of the Dhaka Stock Exchange, went up by 16.10 points or 0.25 per cent to settle at 6,243 at 11:00am after the first hour of trading.
Two other indices—the DS30 index and the DSE Shariah Index (DSES)–also opened higher. The DS30 index, comprising blue chips, advanced 4.03 points to 2207 and the DSE Shariah Index rose 4.36 points to close at 1,365 till then.
Turnover, another important indicator of the market, stood at Tk 1.33 billion after first.
Most of the traded issues remained stuck at the ‘floor price’. Of the issues traded, 70 advanced, 4 declined, and 153 issues remained unchanged on the DSE.
Intraco Refueling Station became the most traded stock till then with shares worth Tk154 million changing hands.
The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—gaining 23 points to stand at 18,362 while the Selective Categories Index – CSCX rose 14 points to reach 11,002, also at 11:00am.
Of the issues traded till then 22 advanced, one declined and 17 remained unchanged with Tk 4.18 million.
