The Financial Express

Stocks open higher as lockdown eased

Baraka Patenga makes flying debut

| Updated: July 20, 2021 09:00:53

Stocks open higher as lockdown eased

Stocks opened higher on Thursday as investors continued their buying interest on sector-wise issues amid the resumption of vaccine roll-out and relaxed strict lockdown.

A new issue – Baraka Patenga Power – made a flying trading debut today as its shares were frozen at 10 per cent upper limit, the highest allowable limit, to reach at Tk 31.90 at the opening.

Some 13 trades were executed at the Dhaka Stock Exchange (DSE) with a total of 25,434 shares of Baraka Patenga Power changing hands within the first 30 minutes of trading at DSE.

Following the previous day’s marginal gain, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 14.99 points or 0.24 per cent to stand at 6,288 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 points marks as buying support added strength to the equity indices despite worries over the virus-infused shock to the country’s economy.

The investors are hopeful about the market as the government announced five new stimulus packages for 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.

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

The Shariah Index (DSES) also advanced 2.90 points to stand at 1,355. However, the DS30 index, comprising blue chips, fell 3.08 points to reach 2,271.

Turnover, another important indicator of the market, stood at Tk 2.26 billion within the first 30 minutes of trading at 10:30 am.

Of the issues traded till then, 256 advanced, 64 declined and 37 remained unchanged on the DSE trading floor till then.

LafargeHolcim was the most traded stock till then with shares worth Tk 185 million changing hands, closely followed by Active Fines, Fu-Wang ceramic, IBP, and Shinepukur Ceramic.

The port city bourse – the Chittagong Stock Exchange – (CSE) also opened higher with CSE All Share Price Index- CASPI-gaining 41 points to stand at 18,243, also at 10:30 am.

Of the issues traded till then 113 advanced, 44 declined and 22 remained unchanged with Tk 79 million in turnover.

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