Markets see modest rise at opening

FE ONLINE REPORT | Wednesday, 29 June 2022

Stocks witnessed a modest rise in the early trading on Wednesday as some investors opted for bargain hunting on lucrative issues.

Following the previous day’s marginal gain, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 11.43 points or 0.18 per cent to stand at 6,354, after the first hour of trading at 11:00 am.

Two other DSE indices also saw marginal gain till then with the DS30 index, comprising blue chips, gaining 3.14 points to reach 2,297 and the Shariah Index (DSES) advanced 1.57 points to 1,387.

Turnover, another important indicator of the market, stood at Tk 1.82 billion at 11:00 am.

Market analysts said the bargain hunters put their money cautiously on selective stocks as they find some issues at lucrative prices.

Market participation has also increased as a section of investors put fresh funds on stocks to get tax benefits just ahead of the end of the fiscal year, they said.

Of the issues traded till then, 185 advanced, 126 declined, and 59 issues remained unchanged on the DSE trading floor.

Intraco Refueling was the most traded stock till the filing of this report with shares worth Tk 140 million changing hands, closely followed by Shinepukur Ceramics, RAK Ceramics, Orion Pharma and Fu-Wang Food.

The Chittagong Stock Exchange also opened marginally higher with its All Shares Price Index (CASPI)—gaining 29 points to stand at 18,692 while the Selective Categories Index – CSCX – rose 16 points to reach 11,204, also at 11:00 am.

Of the issues traded till then, 77 advanced, 61 declined and 25 remained unchanged with Tk 42 million.

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