Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
Stocks opened higher on Thursday, driven by continued bargain hunting in major scrips as opportunistic investors sought to capitalize on perceived attractive valuations, enabling the market to regain footing from the recent downbeat momentum.
The market maintained an upbeat momentum, fueled by sustained buying interest in selective large-cap scrips, alongside accumulation in particular banking stocks surrounding their quarterly earnings declarations.
Most listed banks posted higher profits year-on-year in the first quarter this year, buoyed by higher gains from investments in government securities.
Following the previous two days’ upbeat momemtum, the market opened on a firm footing and the prime index of the Dhaka Stock Exchange (DSE), went up by more than 25 points or 0.48 percent to 5,268 at 11:00am, when the report was filed.
The DS30 index, a group of 30 prominent companies, also gained 1 points to 1,992 while the DSES index, which represents Shariah-based companies,rose 5 points to 1,069 till then.
Turnover, another important indicator of the market, also rose and amounted to Tk 3.21 billion till then.
Of the issues traded till then, 281 advanced, 62 declined, and 44 issues remained unchanged on the DSE trading floor till then.
VFS Thred Dyeing was the most traded stock with shares worth Tk 161 million changing hands till then, followed by Shinepukur Ceramic, Meghna Insurance, BBS Cables and Dominage Steel.
The Chittagong Stock Exchange also saw positive trend till then with its All Shares Price Index (CASPI)—gaining 75 points to 14,746 while the Selective Categories Index – CSCX rose more than 56 points to 9,087 till then.
babulfexpress@gmail.com