Stocks witnessed an upward trend in early trading on Thursday as investors are showing a buying spree on sector-wise issues after two days correction.
Following the previous two days’ modest correction, the Dhaka Stock Exchange (DSE) opened on a positive note with the key index rose 21 points within the first 15 minutes of trading.
After 30 minutes of trading, the DSEX rose more than 25 points while the report was filed at 10:30am.
DSEX, the prime index of the DSE, went up by 25.23 points or 0.50 per cent to reach 4,988 points at 10:30am.
The DS30 index, comprising blue chips, also gained 8.82 points to reach at 1,704 and the Shariah Index (DSES) rose 4.68 points to reach 1,125 points till then.
Turnover, another important indicator of the market, stood at Tk 1.86 billion when the report was filed at 10:30am.
Market operators said the investors went on buying binge on major sectors stocks after two days correction owing to regulatory moves and interest rate cut on stock investment fund.
The investors’ expectation regarding the market remained positive as they kept on taking fresh positions in sector-wise stocks amid expectations of better return, said a merchant banker.
Of the issues traded till then, 222 advanced, 49 declined and 58 remained unchanged.
Continental Insurance was the most traded stocks till then with shares worth Tk 128 million changing hands, closely followed by BD Finance, Paramount Textile, Beximco Pharma and Bexmico.
The port city bourse – the Chittagong Stock Exchange – (CSE) also saw an upward trend till then with CSE All Share Price Index- CASPI-gaining 44 points to stand at 14,211, also at 10:30am.
The Selective Categories Index – CSCX also rose 22 points to reach 8,529 till then.
Of the issues traded till then, 63 gained, 17 declined, and 16 issues remained unchanged with Tk 86 million in turnover.