Stocks opened higher on Monday, maintaining the previous four days' rising trends, as the optimistic investors are putting fresh bets on selective large-cap stocks.
Following the previous four days gaining streak, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 35.41 points or 0.50 per cent to stand at 7,099.70, after the first hour of trading at 11:00am.
Two other indices also saw positive trends till then. The DS30 index, comprising blue chips, advanced 13.10 points to reach 2,624 and the Shariah Index (DSES) gained 7.94 points to stand at 1,521.
Turnover, another important indicator of the market, stood at Tk 3.62 billion within the first hour of trading as against Tk 3.18 billion in the first hour of trading of the previous day.
Market analysts said the investors are showing their buying interest on selective large-cap stocks based on the latest quarterly earnings results amid declining coronavirus infection rates in the country.
Stocks maintained the winning streak as the investors hope that the economic activities of the country will continue as usual riding on favourable macroeconomic indicators, according to a stockbroker.
Of the issues traded till then, 229 advanced, 67 declined, and 70 issues remained unchanged on the DSE trading floor till then.
Bangladesh Shipping Corporation was the most traded stock till then with shares worth Tk 475 million changing hands, closely followed by Fortune Shoes, Orion Pharma, Acme Laboratories and Fareast Islami Life Insurance.
The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—gaining 51 points to stand at 20,772, while the Selective Categories Index – CSCX rising 42 points to reach 12,489 at 11:00am.
Of the issues traded till then 87 advanced, 40 declined, and 28 remained unchanged with Tk 100 million in turnover.
babulfexpress@gmai.com