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Stocks inch up at opening ahead of budget approval

FE Online Reports | Published: June 26, 2019 11:38:17 | Updated: June 30, 2019 10:08:04


Stocks witnessed positive trend in early hours of trading on Wednesday as some investors are showing their buying spree on sector-wise shares ahead of budget approval.

The National Board of Revenue (NBR) chairman hinted at the possibility of reviewing the proposals announced in the budget for fiscal year (FY) 2019-20.

Following the previous day’s slight gain, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) witnessed upturn amid rising trading activities.

Within first 15 minutes of trading, the key index of the country’s prime bourse advanced 20 points while the CSE All Share Price Index (CASPI) of port city’s bourse gained 35 points at 10:45am.

After 30 minutes of trading, the DSEX rose more than 11 points while the CSE All Share Price Index (CASPI) of port city’s bourse gained 41 points at 11:00am when the report was filed.

DSEX, the prime index of the DSE, went up by 11.53 points or 0.21 per cent to stand 5,392 points at 11:00am.

The DS30 index, comprising blue chips, also gained 4.33 points to reach at 1,900 points till then. The DSE Shariah Index also advanced 3.92 point to stand at 1,234 points.

Turnover, the important indicator of the market, stood at Tk 700 million on DSE when the report was filed at 11:00am.

United Power was the most traded stocks till then with shares worth Tk 98 million changing hands, closely followed by National Polymer, JMI Syringes, Fortune Shoes and Runner Automobiles.

Of the issues traded till then, 150 advanced, 75 declined and 79 remained unchanged on the DSE trading floor.

The port city’s bourse – the Chittagong Stock Exchange – (CSE) also saw upward trend till then with CSE All Share Price Index- CASPI-advancing 41 points to stand at 16,519 points, also at 11:00am.

The Selective Category Index – CSCX –also gained 26 points to stand at 10,011 points till then.

Of the issues traded till then, 42 advanced, 32 declined 20 issues remained unchanged with Tk 18 million in turnover.

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