Stocks opened higher on Tuesday, the first day of February, as investors are putting fresh funds on sector-wise stocks based on latest earnings declarations.
Following the four days’ correction, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 35.60 points or 0.52 per cent to stand at 6,961, after the first hour of trading at 11:00am.
Two other indices also saw an upward trend. The DS30 index, comprising blue chips, rose 10.64 points to reach 2,569 and the Shariah Index (DSES) gained 9.96 points to stand at 1,491
Turnover, another important indicator of the market, stood at Tk 3.12 billion within the first hour of trading as against Tk 3.56 billion in the first hour of trading of the previous day.
Market analysts said the bargain hunters are putting fresh bets on sector specific large-cap stocks based on latest quarterly earnings.
Lucrative price levels of many stocks after four days of corrections also prompted some investors to take positions on sector-wise stocks, they said.
Of the issues traded till then, 235 advanced, 65 declined, and 62 issues remained unchanged on the DSE trading floor till then.
LafargeHolcim Bangladesh was the most traded stock till then with shares worth Tk 395 million changing hands, closely followed by BSC, Bangladesh Building Systems, National Polymer, and Beximco.
The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—gaining 88 points to stand at 20,387, while the Selective Categories Index – CSCX rising 53 points to reach 12,247 at 11:00am.
Of the issues traded till then 93 advanced, 27 declined, and 20 remained unchanged with Tk 74 million in turnover.
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