Stocks opened sharply higher on Wednesday riding on regulator moves to curb the free-fall of stocks amid the ongoing war between Russia and Ukraine.
The Bangladesh Securities and Exchange Commission (BSEC) has lowered the circuit breaker limit to 2.0 per cent from 10 per cent effective from today, meaning a stock price cannot fall more than 2.0 per cent in a single day.
Apart from lowering the circuit breaker limit, the regulator ordered an investment of Tk 1.0 billion into the stock market from the stabilisation fund in order to ensure higher liquidity in the market.
Following the news, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 79.18 points or 1.22 per cent to stand at 6,553, after the first hour of trading at 11:00 am.
Two other DSE indices also opened higher with the DS30 index, comprising blue chips, rising 26.30 points to reach 2,400 and the Shariah Index (DSES) gained 17.76 points to stand at 1,416.
Turnover, another important indicator of the market, stood at Tk 2.02 billion within the first hour of trading.
Of the issues traded till then, 326 advanced, 17 declined and 30 issues remained unchanged on the DSE trading floor.
Bangladesh Shipping Corporation was the most traded stock till the filing of this report with shares worth Tk 163 million changing hands, closely followed by Beximco, Dragon Sweater, Orion Pharma and Fortune Shoes.
The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—rising 165 points to stand at 19,183, while the Selective Categories Index – CSCX gained 98 points to reach 11,512 at 11:00 am.
Of the issues traded till then, 125 advanced, 17 declined and five remained unchanged with Tk 56 million in turnover.