Stocks witnessed positive trend in early trading on Monday as optimistic investors continued their buying spree on sector-wise issues encouraged by the securities regulator’s market supportive moves.
Following previous day’s big jump, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened on positive note amid rising trading activities.
Within first 45 minutes of trading, the key index of the country’s prime bourse soared more than 35 points while the CSE All Share Price Index (CASPI) of port city’s bourse rose 45 points at 10:45am.
And the upward trend slowed down as the session progressed.
After first hour of trading, the DSEX gain more than 13 points while the CSE All Share Price Index (CASPI) of port city’s bourse gained 34 points at 11:00am when the report was filed.
DSEX, the prime index of the DSE, went up by 13 points or 0.28 per cent to reach at 4,558 points at 11:00am.
The two other indices also saw positive trend till then. The DS30 index, comprising blue chips, rose 9.41 points to reach at 1549 and the DSE Shariah Index (DSES) advanced 5.49 points to reach at 1,063 points till then.
Turnover, the important indicator of the market, stood at Tk 3.55 billion when the report was filed at 11:00am.
Market insiders said the securities regulator’s several initiatives to develop the market and punished some wrongdoers, gradual reopening of the economy and expansionary monetary policy encouraged investors to put fresh stakes on stocks.
The Bangladesh Bank recently unveiled an expansionary monetary policy for current fiscal year lowering borrowing costs to boost up the money flow for revamping the pandemic-hit economic activities, particularly private sector credit growth and the country’s ailing capital market.
The investors hoped that the announced monetary policy statement would rejuvenate the battered economy and persuade institutional investors to pour money into the capital market, said a merchant banker.
Of the issues traded till then, 164 advanced, 129 declined, and 55 remained unchanged.
SK Trims Industries was the most traded stocks till then with shares worth Tk 188 million changing hands, closely followed by Beximco, Beximco Pharma, Brac Bank and Square Pharma.
The port city bourse – the Chittagong Stock Exchange – (CSE) also saw positive trend till then with CSE All Share Price Index- CASPI-gaining 34 points to stand at 12,916, also at 11:00am.
The Selective Category Index – CSCX –also gained 15 points to stand at 7,816 points till then.
Of the issues traded till then, 85 gained, 52 declined, and 27 issues remained unchanged with Tk 356 million in turnover.