DSE turnover exceeds Tk 2 billion-mark after first hour

The stock market opened on a positive note on Tuesday with turnover crossing Tk 2 billion-mark after the first hour of trading as investors continued their chase for rumour-based stocks in anticipation of quick gains.

The market movement was led by particular small-cap and junk stocks as they sought to take positions in the quick rallies in anticipation of quick gains.

Small-cap stocks such as Fu-Wang Food continued the investors’ attraction as its stock soared more than 55 per cent in a week.

Following the previous day’s correction, the key index of the Dhaka Stock Exchange (DSE) went up by 4.58 points to stand at 6,329, after the first hour of trading at 11:00 am.

The DS30 Index, which consists of blue-chip companies, advanced 2.99 points to 2,193 and the DSES Index, which represents Shariah-based companies, gained 0.32 points to 1,375 till then.

Turnover, a crucial indicator of the market, stood at Tk 2.02 billion after the first hour of trading, after crossing the market turnover Tk 10 billion-mark after one month in the previous day.

The investors’ buying interest in sector-specific issues with short-term gain potential amidst continuous profit-booking sell pressure from cautious investors, said a stockbroker.

Of the issues traded till then, 85 advanced, 75 declined and 152 remained unchanged on the DSE trading floor.

The port city bourse – the Chittagong Stock Exchange – (CSE) also saw a positive note with CSE All Share Price Index- CASPI-gaining 13 points to stand at 18,716, also at 11:00 am.

Of the issues traded till then, 28 advanced, 34 declined and 34 remained unchanged with Tk 30 million in turnover.

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