Stocks see upturn in early trading riding on GP

| Updated: November 15, 2017 11:51:21

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The prices of most of the shares on both bourses witnessed upward trend in early trading on Tuesday as optimistic investors are taking position on Grameenphone shares.

Each share price of Grameenphone crossed Tk 500 in early trading, the highest price since listing with the bourses in 2009.

Brokers said as GP is the largest market listed company, affects the index largely.  GP accounted for 16 per cent market cap of major bourse alone.

Following the previous day’s marginal correction, the Dhaka Stock Exchange (DSE) opened higher while the Chittagong Stock Exchange (CSE) saw negative trend at opening amid rising trading activities.

Within first 15 minutes of trading, the key index of the country’s prime bourse advanced nearly 5.0 points while the Selective Categories Index – CSCX-- of port city bourse fell 17 points at 10:45am.

However, it started to recover since then. After 30 minutes of trading the DSEX rose 31 points while the Selective Categories Index of port city bourse rose 83 points at 11:00am, when the report was filed.

DSEX, prime index of the DSE, which replaced the DGEN in nearly five years back, went up by 31 points or 0.50 to reach at 6,248 points at 11:00am.

The two other indices also stay positive trend till then. The DS30 index, comprising blue chips also advanced 14 points or 0.61 per cent to reach at 2,276.

The DSE Shariah Index (DSES) gained 12 points or 0.15 per cent to stand at 1,362 points.

Turnover, the important indicator of the market, stood at Tk 1.36 billion when the report was filed at 11:00am.

Of the issues traded till then, 144 advanced, 72 declined and 52 remained unchanged.

GP was the most traded stocks till then with shares worth Tk 203 million changing hands, closely followed by Shahjalal Bank Tk 102 million, AB Bank Tk 64 million, ACI Tk 50 million and City Bank Tk 48 million.

The port city bourse –also saw upward trend till then with its Selective Category Index – CSCX –gaining 83 points to stand at 11,746 points, also at 11:00am.

Of the issues traded till then, 47 gained, 31 declined and 20 issues remained unchanged with Tk 128 million in turnover.

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