Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
Most shares on the Dhaka Stock Exchange witnessed a price surge at the opening on Monday, after a big fall on the previous day following the removal of the floor price from all but 35 stocks.
Of the issues traded till then, 192 advanced, 148 declined, and 37 remained unchanged on the DSE trading floor.
On Sunday, the broad index of the DSE plunged more than 96 points at closing, although it initially fell 214 points in just five minutes, the first trading day after lifting the floor price.
Following the previous day’s late-hour recovery, DSEX, the key index of the prime bourse, went up by 5.23 points to 6245 after the first hour of trading at 11:00 am, when the report was filed.
Two other indices also saw positive trends till then. The DS30 Index, which consists of blue-chip companies, rose more than points to 2,147 while the DSES index, which represents Shariah-based companies, gained 6 points to 1,380.
Market experts said the buying appetite of institutional investors in blue-chip stocks helped the market recover despite some volatility in the market.
The recovery of the market index was mostly driven by the gains of blue-chip stocks as investors put money on fundamental stock company shares in anticipation of a good return, said a stockbroker.
Turnover also stood at Tk 4 billion after the first hour of trading, as the bargain hunters were confident enough to put fresh funds into good stocks.
Associated Oxygen became the most-traded stock till then, with shares worth Tk 178 million changing, followed by BD Thai Aluminum, LafargeHolcm and Fortune Shoes.
However, the Chittagong Stock Exchange (CSE) opened sharply lower, with the CSE All Share Price Index – CASPI – losing 104 points to 18,224 after the first hour of trading.