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Stocks opened sharply higher on Sunday, with the key index exceeding the 5500-mark, as buoyant investors are putting fresh bets on lucrative blue-chip shares in anticipation of quick gains.
The news that the government may allow the government servants to trade in the share market, a reversal of a decades-old rule, boosted the investors’ confidence, said a stockbroker.
The public administration ministry sent a draft amendment to the Government Servants (Conduct) Rules, 1979, to the law ministry, which vetted and returned it, sources said.
After the first hour of trading, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by more than 42 points or 0.77 per cent to 5,540 at 11:30 am, when the report was filed.
The blue-chip DS30 index, a group of 30 prominent companies, jumped more than 7 points to 1958 while the DSES index, which represents Shariah-based companies, rose 7 points to 1,216.
Turnover, another important indicator of the market, stood at Tk 2.62 billion after first hour of trading at 11:00 am.
Of the issues traded till then, 288 advanced, 58 declined, and 43 issues remained unchanged on the DSE trading floor till then.
Sea Pearl Beach was the most traded stock till then with shares worth Tk 91 million changing hands.
The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—gaining 49 points to stand at 15,512 while the Selective Categories Index – CSCX gained 25 points to reach 9340, also at 11:00 am.