Stocks opened higher on Wednesday, maintaining the previous day’s sharp rally, as bargain hunters were active on lucrative issues.
Shares of Taufika Foods and Agro Industries, which made its debut today, were frozen at 50 per cent—the upper limit circuit breaker for the debutant on the first trading day.
Its share reached at Tk 15, from the offer price of Tk 10 each at 11:00 am.
Taufika Foods, which produces ice cream under the brand name “Lovello”, raised Tk 300 million from the capital market using the fixed price method by offloading 30 million ordinary shares.
Following the previous day’s sharp rise, the Dhaka Stock Exchange and the Chittagong Stock Exchange opened on a high note amid renewed optimism.
After the first hour into trade, DSEX soared more than 52 points while the CSE All Share Price Index (CASPI) of port city’s bourse jumped 125 points at 11:00 when the report was filed.
DSEX, the prime index of the DSE, went up by 52.63 points or 0.95 per cent to stand at 5,551 points till then.
Two other indices also saw a sharp rise till then. The DS30 index, comprising blue chips gained 33.14 points to reach 2,119 points and the Shariah Index (DSES) rose 13.75 points to stand at 1,253 points till then.
Turnover, another important indicator of the market, stood at Tk 2.68 billion within the first hour of trading at 11:00 am.
Market operators said bargain hunters showed their buying appetite on sector-specific issues which saw price erosion in the past few trading sessions.
Of the issues traded till then, 157 advanced, 56 declined and 97 remained unchanged on the DSE.
Beximco - the flagship company of Beximco Group- was the most traded stock till the filing of the report with shares worth Tk 771 million changing hands, followed by Beximco Pharma, ROBI, BATBC, and LankaBangla Finance.
The port city bourse – the Chittagong Stock Exchange – (CSE) also saw a sharp rise with CSE All Share Price Index- CASPI- soaring 125 points to stand at 16,044, also at 11:00 am.
Of the issues traded till then, 52 gained, 45 declined, and 17 issues remained unchanged with Tk 111 million in turnover.
