Stocks opened on an upbeat note Monday, the first trading day of this week, as the buoyant investors continued their appetite after the securities regulator extended credit facilities further to the investors.
The market remained closed for three days due to weekends and a public holiday for National Mourning Day.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 23.07 points or 0.34 per cent to stand at 6,722 points within the first 30 minutes of trading at 10:30 am – the highest since its inception more than eight years back in 2013.
Two other DSE indices also saw a positive trend at the opening as the DS30 index, comprising blue chips, rose 4.19 points to reach a record high of 2,431 and the Shariah Index (DSES) gained 2.68 points to stand at 1,461 points till then.
Turnover, another important indicator of the market, stood at Tk 5.03 billion within the first 30 minutes of trading at 10:30 am.
Market analysts said investors welcomed the regulator’s move and remained optimistic that it will boost the supply of liquidity in the capital market.
Earlier on Thursday, Bangladesh Securities and Exchange Commission (BSEC) revised the limit of margin loan facilities based on the key index of the DSE.
According to the new BSEC’s latest revision, merchant banks and brokerage firms will be able to provide margin loans to their customers at a maximum rate of 1:0.80 when the DSEX index is below 8,000.
In other words, a maximum margin loan of Tk 80 can be provided against clients’ own investment of Tk 100.
Of the issues traded till then, 220 advanced, 117 declined, and 30 remained unchanged on the DSE trading floor.
LankaBangla Finance was the most traded stock till the filing of this report with shares worth Tk 314 million changing hands, closely followed by Beximco, National Housing Finance and Investment, Saif Powertec and Keya Cosmetics.
The port city bourse – the Chittagong Stock Exchange – (CSE) also saw an upward trend till then with CSE All Share Price Index- CASPI-rising 42 points to stand at 19,558, also at 10:30 am.
Of the issues traded till then 94 advanced, 51 declined and 33 remained unchanged with Tk 134 million in turnover.