Stocks witnessed positive trend in early trading on Monday with the key index of the prime bourse crossing the 4,100-mark as the buoyant investors continued their buying binge amid growing confidence.
Within 30 minutes of trading, DSEX gained more than 8.0 points while the CSE All Share Price Index (CASPI) of port city’s bourse rose 25 points at 11:00 am when the report was filed.
DSEX, the prime index of the DSE, went up by 8.25 points or 0.20 per cent to stand 4,107 points at 11:00 am.
Turnover, the important indicator of the market, stood at Tk 920 million on DSE when the report was filed at 11:00 am.
Market operators said the securities regulator’s hard stance on ensuring mandatory 2.0 per cent shareholding by each director of listed companies had a positive impact on the stock prices.
The stock market regulator has recently asked 61 directors of 22 listed companies to ensure a minimum 2.0 per cent shares in their own companies within 45 days to continue their directorship.
So the companies, whose directors have failed to hold the minimum shares will have to buy shares within the 45-day time frame which attracted general investors, said a merchant banker.
The stock market regulator, in cooperation with the Bangladesh Bank, is also inspiring banks to buy stocks at a lucrative price level, attracting investors, he said.
Two other indices also saw positive trend till then. The DS30 index, comprising blue chips, advanced 4.02 points to reach at 1,387 and DSE Shariah Index gained 4.03 points to stand at 958 points till then.
Square Pharma was the most traded stocks till then with shares worth Tk 92 million changing hands, followed by Khulna Power, Indo-Bangla Pharma, Orion Pharma, and BSCCL.
The port city’s bourse – the Chittagong Stock Exchange – (CSE) also saw positive trend till then with the CSE All Share Price Index- CASPI-gaining 25 points to stand at 11,625 points, also at 11:00 am.
The Selective Category Index – CSCX – also rose 16 points to stand at 7,045 points till then.
Of the issues traded till then, 30 advanced, 17 declined and 44 issues remained unchanged with Tk 17 million in turnover.