DSEX exceeds 5400-mark at opening as political tension eased

Stocks opened sharply higher on Tuesday, with the key index exceeding the 5400-mark, as buoyant investors are putting fresh bets on lucrative blue-chip shares political tension eased after the regination of Sheikh Hasina.

The market said investors are showing buying appetite from the very beginning of the session hoping for political stability shortly as Sheikh Hasina stepped down from the position of prime minister on Monday and fled the country.

Large-cap and blue-chip stocks such as Grameenphone, Walton, BAT Bangladesh, Robi and United Power mostly accounted for the index rise.

After the first hour of trading, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by more than  192 points or 3.68 per cent to 5,422 at 11:00 am, when the report was filed.

The blue-chip DS30 index, a group of 30 prominent companies, jumped more than 75 points to 1935 while the DSES index, which represents Shariah-based companies, rose 36 points to 1,179.

Turnover, another important indicator of the market, stood at Tk 4 billion after one hour of trading at 11.00 am.

Of the issues traded till then, 342 advanced, 39 declined, and 10 issues remained unchanged on the DSE trading floor till then.

Trust Bank was the most traded stock till then with shares worth Tk 455 million changing hands.

The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—gaining 268 points to stand at 15,194 while the Selective Categories Index – CSCX gained  164 points to reach 9159, also at 11:00 am.

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