9 months ago

DSE, CSE open higher amid investors’ optimism

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Stocks opened higher on Tuesday as the buoyant investors put fresh bets on stocks amid growing confidence in the market.

Following the previous day’s upturn, DSEX, the prime index of the DSE, went up by 19.42 points or 0.31 per cent to stand at 6,319 after the first hour of trading at 11:00am.

Two other indices saw positive trends till then. The DS30 index, comprising blue chips, advanced 11.83 points to finish at 2,259 and the DSE Shariah Index (DSES) gained 5.44 points to close at 1,385.

Turnover, another important indicator of the market, soared to Tk 3.95 billion after the first hour of trading.

Market insiders said the investors’ confidence boosted to some extent amid declining trend of fuel prices in the global markets as well as the stability in the foreign exchange market due to the central bank’s steps.

The general investors increased their participation hoping that the market will not fall further due to regulatory assurance to keep the ‘floor price’ in place until further order, said a merchant banker.

Of the issues traded till then, 157 advanced, 118 declined and 92 issues remained unchanged on the DSE trading floor.

Beximco was the most traded stock till then with shares worth Tk 340 million changing hands.

The Chittagong Stock Exchange also saw an upward trend till then with its All Shares Price Index (CASPI)—rising 40 points to stand at 18,553 while the Selective Categories Index – CSCX rose 24 points to reach 11,117, also at 11:00am.

Of the issues traded till then 70 advanced, 39 declined and 53 remained unchanged with turnover of Tk 60 million till then.

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