Stocks witnessed steep rise in early hour of trading on Monday as investors are showing their appetite on large-cap shares.
Market analysts said market saw a sharp gain at opening riding on the central bank’s move to ease liquidity crisis in the capital market.
The Bangladesh Bank (BB) has announced a fresh policy for providing temporary liquidity support to the scheduled banks for boosting their investment in the country's ailing capital market.
Under the new policy, the banks will be eligible to invest such liquidity only in their own portfolios or the portfolios of their subsidiaries as loan, according to a notification, issued by the central bank on Sunday.
Following the previous day’s upturn, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) saw upward trend.
Within first 15 minutes of trading, the key index of the country’s prime bourse advanced more than 67 points while the CSE All Share Price Index of port city’s bourse gained 120 points at 10:45am.
After 30 minutes of trading, DSEX gained more than 89 points while the CSE All Share Price Index of port city’s bourse advanced 175 points at 11:00am when the report was filed.
DSEX, the prime index of the DSE, went up by 89.77 points or 1.82 per cent to stand at 5010 points at 11:00am.
Two other indices saw upward trend till then. The DS30 index, comprising blue chips rose 26.85 points to 1793 points and the DSE Shariah Index (DSES) advanced 16.14 points to stand at 1,166 points till then.
Turnover, the important indicator of the market, stood at Tk 951 million when the report was filed at 11:00am.
Of the issues traded till then, 294 advanced, 11 declined and 18 remained unchanged.
National Tubes was the most traded stocks till then with shares worth Tk 55 million changing hands, followed by National Polymer, Premier Bank, Beacon Pharma and Summit Power.
The port city’s bourse – the Chittagong Stock Exchange – (CSE), also saw positive trend till then with CSE All Share Price Index- CASPI-soaring 175 points to stand at 15,121 points, also at 11:00am.
The Selective Category Index – CSCX – also rose 107 points to stand at 9,184 points till then.
Of the issues traded till then, 96 advanced, 9 declined 6 remained unchanged with Tk 32 million in turnover.