Stocks open higher with low turnover

Stocks opened on a positive note on Tuesday, after a three-day correction, as the bargain hunters were showing their buying appetite on sector-wise issues.

Following the previous three days’ modest correction, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 27.56 points to stand at 6,851 points within the first 30 minutes of trading at 10:30 am.

Two other indices also advanced with the DS30 index, comprising blue chips, gained 2.48 points to reach 2,445 and the Shariah Index (DSES) rose 3.70 points to stand at 1,487 points till then.

Turnover, another important indicator of the market, stood at Tk 2.83 billion within the first 30 minutes of trading at 10:30 am.

Market analysts said turnover was low as a section of investors remained cautious following the Bangladesh Bank’s investigation of entire money-market transactions.

The bargain hunters, however, took a position on sector-wise stocks after three corrections, they said.

Of the issues traded till then, 240 advanced, 76 declined and 49 remained unchanged on the DSE trading floor till then.

Shahjibazar Power was the most traded stock till then with shares worth Tk 168 million changing hands, closely followed by LafargeHolcim, Fu-Wang Food, Makson Spinning Mills, and Metro Spinning.

The Chittagong Stock Exchange also saw a positive trend till then with its All Shares Price Index (CASPI)—gaining 82 points to stand at 19,926 while the Selective Categories Index – CSCX gaining 64 points to reach 11,962, also at 10:30 am.

Of the issues traded till then 84 advanced, 33 declined and 16 remained unchanged with Tk 55 million in turnover.

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