Stocks opened higher on Thursday after the previous day’s marginal correction as bargain hunters were putting fresh bets on engineering and pharma sector shares.
Following the previous day’s modest correction, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 28.33 points or 0.39 per cent to stand at 7,270 points within the first 30 minutes of trading at 10:30 am – the highest since its inception on January 27, 2013.
Two other DSE indices also saw an upward trend with the DS30 index, comprising blue chips, rose 6.79 points to reach 2,680 while the Shariah Index (DSES) gained 6.72 points to stand at 1,590 points till then.
Turnover, another important indicator of the market, stood at Tk 3.12 billion within the first 30 minutes of trading at 10:30 am.
Market experts said the bargain hunters have been putting fresh bets on major stocks anticipating positive momentum ahead riding on lower interest rates and rate cuts on saving certificates.
Top positive index contributors are Walton, Renata, ICB, Beximco and Beximco Pharmaceuticals, according to an analyst.
Of the issues traded till then, 236 advanced, 63 declined and 63 remained unchanged on the DSE trading floor.
Beximco was the most traded stock till the filing of this report with shares worth Tk 272 million changing hands, closely followed by Orion Pharma, Alif Manufacturing, SS Steel and Delta Life Insurance.
The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—gaining 72 points to stand at 21,229 while the Selective Categories Index – CSCX gained 43 points to reach 12,737, also at 10:30 am.
Of the issues traded till then 70 advanced, 35 declined and 21 remained unchanged with Tk 52 million in turnover.