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Bourses witness sharp gain in early trading

FE Online Report | Published: May 19, 2019 11:43:08 | Updated: May 21, 2019 10:50:34


Investors react while monitoring stock price movements on computer screens at a brockerage house in the capital city — FE/Files

The prices of most of the shares on both bourses saw a sharp gain in early trading on Sunday as investors showed their buying appetite on large-cap shares amid expectation.

Market analysts said the Bangladesh Bank’s market supportive measures widening the banks’ scope to invest in the stock market, created hype among investors.

Following the previous day’s modest gain, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) witnessed an upbeat trend amid rising trading activities.

Within first 30 minutes of trading, DSEX, the key index of the country’s prime bourse soared 95 points while the CSE All Share Price Index (CASPI) of port city’s bourse rose 150 points at 10:30am.

After first hour of trading, the DSEX rose more than 87 points while the CASPI of Chattogram bourse gained 174 points at 11:00am when the report was filed.

The DSEX went up by 87.36 points or 1.67 per cent to reach at 5,318 points at that time.

Two other indices also saw a sharp rise in early trading as the DS30 index, comprising blue chips, gained 28 points to reach at 1,846 points and the DSE Shariah Index rose 16 points to stand at 1,213 points till then.

Turnover, the important indicator of the market, stood at Tk 1.55 billion on DSE when the report was filed at 11:00am.

Of the issues traded till then, 268 advanced, 25 declined and 24 remained unchanged on the DSE trading floor.

SK Trims Industries was the most traded stocks till filing of the report with shares worth Tk 106 million changing hands, closely followed by IFIC bank, Uttara Bank, Fortune Shoes, and Premier Bank.

The Chittagong Stock Exchange (CSE) also saw a steep gain in early trading with the CASPI soaring 174 points to stand at 16,175 points, also at 11:00am.

The Selective Category Index (CSCX) also gained 104 points to stand at 9,792 till then.

Of the issues traded till then, 92 gained, 12 declined, and 14 issues remained unchanged with Tk 167 million in turnover.

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