The Financial Express

Stocks open higher amid lax lockdown news

| Updated: July 15, 2021 16:28:23

FE file photo FE file photo

Stocks opened higher on Wednesday as investors continued their buying spree on major sector issues riding on the news of the resumption of vaccine roll-out and relaxed lockdown.

Pre-Eid sale pressure also eased as only three trading days are left before the vacation as Eid-ul-Azha to be celebrated in the country on July 21.

Following the previous day’s sharp rise, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 26.12 points or 0.41 per cent to stand at 6,293 within the first 30 minutes of trading at 10:30 am.

Market experts said the core index holds its firm position at above 6,200-point marks as buying support added strength to the equity indices despite worries over virus-induced shock to the country’s economy.

The investors were seen hopeful about the market as the government announced five new stimulus packages of Tk 32 billion for the low-income people and relaxed the ongoing lockdown for eight days ahead of Eid-ul-Azha to facilitate business and public movement, said a merchant banker.

The easing of restrictions ahead of Eid vacation and resumption of vaccine roll-out also impacted the market momentum positively, he said.

Meanwhile, two other DSE indices saw a positive trend till then with the DS30 index, comprising blue chips, gained 8.86 points to reach 2,282 and the Shariah Index (DSES) rose 2.89 points to stand at 1,356 points.

Turnover, another important indicator of the market, stood at Tk 2.95 billion within the first 30 minutes of trading at 10:30 am.

Of the issues traded till then, 190 advanced, 106 declined and 57 remained unchanged on the DSE trading floor.

Beximco was the most traded stock till the filing of this report with shares worth Tk 245 million changing hands, closely followed by IFIC Bank, Sonali Life Insurance, NRB Commercial Bank and Southeast Bank.

The port city bourse – the Chittagong Stock Exchange – (CSE) also opened higher with CSE All Share Price Index-CASPI-gaining 26 points to stand at 18,246, also at 10:30 am.

Of the issues traded till then 65 advanced, 62 declined, and 18 remained unchanged with Tk 81 million in turnover.

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