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Stocks opened on a positive note on Thursday as buoyant investors continued their buying spree on sector-wise issues riding on regulatory moves.
After crossing the 6,900-mark in the previous day, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 32.42 points to stand at 6,948 within the first 30 minutes of trading at 10:30 am –the highest since its inception on January 27, 2013.
Two other indices also saw an upward trend with the DS30 index, comprising blue chips, rose 13.57 points to reach 2,488 while the Shariah Index (DSES) gained 10.35 points to stand at 1,506 points till then.
Turnover, another important indicator of the market, stood at Tk 3.02 billion within the first 30 minutes of trading at 10:30 am.
Market experts said stocks extended their rally as buoyant investors are putting fresh bets on major stocks anticipating positive momentum ahead riding on regulatory moves.
The Bangladesh Bank has asked all banks to submit stock investment reports on a monthly basis instead of a quarterly basis while the securities regulator increased the IPO quota for general investors, which encouraged the investors to the market, they said.
Of the issues traded till then, 227 advanced, 82 declined and 55 remained unchanged on the DSE trading floor till then.
Beximco was the most traded stock till then with shares worth Tk 146 million changing hands, closely followed by SS Steel, GPH Ispat, Monno Ceramic, and Baraka Patenga Power.
The Chittagong Stock Exchange (CSE) also saw an upbeat note with its All Shares Price Index (CASPI)—gaining 67 points to stand at 20,224 while the Selective Categories Index – CSCX gaining 38 points to reach 12,119, also at 10:30 am.
Of the issues traded till then 90 advanced, 39 declined and 28 remained unchanged with Tk 121 million in turnover.