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Stocks opened on an upbeat note on Wednesday with the key index of the Dhaka bourse crossing the 6800-mark in the early trading as buoyant investors continued their buying spree.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 29.96 points or 0.44 per cent to stand at 6,817 points within the first 30 minutes of trading at 10:30 am –the highest since its inception more than eight years back in 2013.
Two other indices saw an upward trend till then, with the DS30 index, comprising blue chips, rose 15.24 points to reach at 2,437 and the Shariah Index (DSES) gained 6.03 points to stand at 1,475 points till then.
Turnover, another important indicator of the market, stood at Tk 3.36 billion within the first 30 minutes of trading at 10:30 am.
Market insiders said the market remained bullish over the past few weeks due to lower returns on the money market and limited scope of investment in other instruments while extended credit facilities have further boosted investor sentiment.
The Bangladesh Securities and Exchange Commission (BSEC) on Thursday revised the limit of margin loan facilities based on the DSE key index - at a maximum rate of 1:0.80 when the DSEX is below 8,000.
Of the issues traded till then, 221 advanced, 106 declined and 37 remained unchanged on the DSE trading floor till then.
National Bank was the most traded stock till then with shares worth Tk 225 million changing hands, closely followed by Beximco, Orion Pharma, IFIC Bank, and Orion Infusion.
The port city bourse – the Chittagong Stock Exchange – (CSE) saw an upward trend till then with CSE All Share Price Index- CASPI-rising 79 points to stand at 19,847, also at 10:30 am.
Of the issues traded till then 69 advanced, 50 declined and 40 remained unchanged with Tk 109 million in turnover.