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Stocks opened higher on Thursday, with the key index of the Dhaka bourse crossing the 5400-mark in early trading, as buoyant investors continued their buying spree amid the ongoing earnings declaration season.
Market analysts said the investor's positive market sentiment remained resilient, bolstered by the central bank’s latest decision to cut the reverse repo and rising expectations of an imminent main policy rate cut amid signs of easing inflation.
Moreover, improving some key macroeconomic indicators such as exports, remittance and the gradual strength of the local currency against the US dollar, also boosted investor confidence in the market.
Following the previous day’s upbeat note, the prime index of the Dhaka Stock Exchange (DSE), went up by more than 42 points or 0.78 per cent to 5,406 at 11:00 am, when the report was filed.
The DS30 index, a group of 30 prominent companies, also gained 12 points to 2,098, while the DSES index, which represents Shariah-based companies, rose 3 points to 1,181 till then.
Turnover, another important indicator of the market, was also high and stood at Tk 2.78 billion till then as investors’ participation increased amid high hopes.
Of the issues traded till then, 241 advanced, 61 declined, and 85 issues remained unchanged on the DSE trading floor till then.
BAT Bangladesh was the most traded stock with shares worth Tk 165 million changing hands till then.
The Chittagong Stock Exchange also saw an upward trend till then, with its All Shares Price Index (CASPI)—gaining 75 points to 14,98,0, while the Selective Categories Index – CSCX rose more than 48 points to 9,170 till then.
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