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The Financial Express

Stocks rise at opening despite lockdown

| Updated: April 22, 2021 10:43:57


Traders, in protective suits, monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files Traders, in protective suits, monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files

Stocks open higher on Monday, maintaining the past four days’ gaining streak, as bargain hunters remained active on sector-wise lucrative issues despite lockdown.

However, the presence of investors on the trading floor was rather thin due to the ongoing lockdown and reduced trading hours. Most investors executed their trade online or through mobile apps, officials said.

The bourses and brokerage houses also encouraged investors to conduct share trading using virtual platforms amid the pandemic.

The market opened on an upward trend this morning as DSEX, the prime index of the Dhaka Stock Exchange (DSE), rose 17.31 points or 0.32 per cent to stand at 5,348 within the first 30 minutes of trading.

Market operators said the growing confidence of investors in the market beat the lockdown worries, keeping the market vibrant.

Lucrative price levels of many stocks coupled with lowering the circuit breaker limit to 2.0 per cent from the existing 10 per cent for 66 companies encouraged the investors to take positions on these stocks, they said.

The investors, mostly institutional ones, are taking advantage of low-priced securities, which helped the market to open higher, said a top broker.

Meanwhile, two other DSE indices also saw a positive trend till then with the DS30 index, comprising blue chips, advanced 5.52 points to reach 2,045 points and the Shariah Index (DSES) gained 3.03 points to stand at 1,214 points till then.

Turnover, another important indicator of the market, stood at Tk 1.76 billion within the first 30 minutes of trading when the report was filed at 10:30 am.

Of the issues traded till then, 121 advanced, 100 declined, and 64 remained unchanged on the DSE trading floor till then.

Beximco - the flagship company of Beximco Group- was the most traded stock till then with shares worth Tk 438 million changing hands, followed by LankaBangla Finance, LafargeHolcim, BATBC and BD Finance.

The port city bourse – the Chittagong Stock Exchange – (CSE) also opened higher with CSE All Share Price Index- CASPI-gaining 53 points to stand at 15,467, also at 10:30 am.

Of the issues traded till then 54 advanced, 31 declined, and 16 remained unchanged with Tk103 million in turnover.

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