Dhaka bourse witnesses positive trend in early hours of trading

Dhaka bourse witnessed a positive trend in the early hours of trading on Monday, after a three-day fall, as bargain hunters went to buy lucrative stocks.

Following the previous three days’ fall, DSEX, the key index of the prime bourse, went up by 19 points to 6,098 after the first one and a half hours of trading at 11:30 am, when the report was filed.

Two other indices also saw positive trends until then. The DS30 Index, which consists of blue-chip companies, rose almost 10 points to 2,100, while the DSES index, which represents Shariah-based companies, gained 5 points to 1,342.

Market experts said the buying appetite of institutional investors in selective stocks helped the market recover in early trading despite some volatility in the market.

The recovery of the market index was mostly driven by the Investment Corporation of Bangladesh, Bacon Pharma, Kohinoor Chemicals, IPDC, and United Power as their stock prices increased.

Turnover also stood at Tk 2.64 billion after the first and a half hours of trading as the bargain hunters were confident enough to put fresh funds on good stocks.

Of the issues traded till then, 211 advanced, 123 declined, and 48 remained unchanged on the DSE trading floor.

Khulna Printing became the most-traded stock till then, with shares worth Tk 23 million changing, followed by BD Thai Aluminum and Orion Infusion.

The Chittagong Stock Exchange (CSE), however, opened lower with the CSE All Share Price Index – CASPI – losing 78 points to 17,207 after the first and a half hour of trading at 11:30 am.

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