Stocks opened marginally higher on Monday as bargain hunters showed their appetite for buying sector-wise stocks amid eased political tension.
Following the previous day’s upbeat trend, the market started on a positive note, and the DSEX, the prime index of the Dhaka Stock Exchange, went up by 7.88 points, or 0.12 per cent, to settle at 6,247 after the first hour of trading at 11:00am.
The DSE Shariah Index also rose 2.05 points to stand at 1366. However, the DS30 Index, which comprises blue chips, saw a fractional loss of 40 points to 2204 until then.
On the back of an increase in trading activity, turnover, another important indicator of the market, stood at Tk 1.88 billion after the first hour of trading at 11:00 a.m.
Market insiders said the optimistic investors were active on the trading floor as the regulator urged insurers to come up with fresh investments.
Moreover, the Capital Market Stabilisation Fund provided Tk 200 million to support capital to tackle the liquidity crisis in the market. All the events created a positive sentiment among the investors, who increased their participation in the market.
Most of the traded issues remained stuck at the ‘floor price’. Of the issues traded, 58 advanced, 21 declined, and 175 remained unchanged on the DSE.
Orion Infusion became the most traded stock till then, with shares worth Tk 178 million changing hands.
The Chittagong Stock Exchange opened higher as well, with the All Shares Price Index (CASPI) rising 23 points to 18,395 and the Selective Categories Index (CSCX) rising 13 points to 11,021, both at 11:00 a.m.
Of the issues traded till then, 22 advanced, 6 declined, and 47 remained unchanged at Tk 22 million.
