Dhaka stocks opened higher on Tuesday as bargain hunters showed their buying appetite riding on the regulatory move and better-than-expected corporate declarations by some companies.
The market opened on a positive note as the DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), rose 15.12 points or 0.27 per cent to stand at 5,526 points within the first hour of trading.
Market operators said extending the timeframe of the margin loan interest cap for another six months coupled with some positive macro-economic indicators attracted the investors amid the Covid-19 pandemic.
The investors remained active on both sides of the trading fence based on the latest quarterly earnings and dividend declarations.
Sale pressure eased as stockbrokers and merchant banks get another six months to adjust their margin loan rates to 12 per cent, said a top broker.
Meanwhile, two other DSE indices also saw a positive trend till then with the DS30 index, comprising blue chips, gained 1.98 points to reach 2,118 and the Shariah Index (DSES) rose 1.15 points to stand at 1,249 points.
Turnover, another important indicator of the market, stood at Tk 6.14 billion within the first hour of trading when the report was filed at 11:00 am.
Of the issues traded till then, 134 advanced, 132 declined, and 73 remained unchanged on the DSE trading floor till then.
Beximco - the flagship company of Beximco Group- was the most traded stock till then with shares worth Tk 794 million changing hands, followed by LafargeHolcim, Asia Pacific Insurance, Provati Insurance and LankaBangla Finance.
However, the port city bourse – the Chittagong Stock Exchange – (CSE) saw a negative trend with CSE All Share Price Index- CASPI-losing 23 points to stand at 15,929, also at 11:00 am.
Of the issues traded till then 58 advanced, 70 declined and 36 remained unchanged with Tk 105 million in turnover.