Stocks open higher amid eased lockdown worries

FE ONLINE REPORT | Wednesday, 21 April 2021

Stocks opened marginally higher on Wednesday as optimistic investors continued their buying appetite on sector-wise issues as virus lockdown worries eased somewhat.

The market opened on a positive note this morning as DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), rose 18.23 points or 0.33 per cent to stand at 5,440 within the first 30 minutes of the trading.

Market analysts said the enthusiastic investors, mostly institutional ones, are putting fresh stakes on stocks amid eased lockdown worries.

Meanwhile, the government has extended the ongoing ‘strict’ lockdown by another seven days, till April 28. But the stock market and banks will remain open as usual.

Easing virus-induced lockdown worries, lucrative price levels of stocks, increased marginal loan limit coupled with lowering the circuit breaker for several companies prompted investors to put fresh funds on stocks, said a leading merchant banker.

“Continuous growth in turnover pushed investors’ confidence high and high volume suggested that institutional investors were largely active in the market,” he said.

Meanwhile, two other DSE indices also saw a positive trend till then with the DS30 index, comprising blue chips, advanced 12.21 points to reach 2,095 and the Shariah Index (DSES) gained 4.62 points to stand 1,238 points.

Turnover, another important indicator of the market, stood at Tk 2.21 billion within the first 30 minutes of the trading when the report was filed at 10:30 am.

Of the issues traded till then, 129 advanced, 93 declined and 80 remained unchanged on the DSE trading floor.

Beximco - the flagship company of Beximco Group- was the most traded stock till the filing of this report with shares worth Tk 551 million changing hands, followed by Beximco Pharma, Robi, BD Finance and LafargeHolcim.

The port city bourse – the Chittagong Stock Exchange – (CSE) also opened marginally higher with CSE All Share Price Index-CASPI-gaining 50 points to stand at 15,736, also at 10:30 am.

Of the issues traded till then 51 advanced, 25 declined, and 14 remained unchanged with Tk 53 million in turnover.

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