Stocks opened higher on Monday with the key index crossing the 5600-mark in the early trading as optimistic investors continued their appetite on sector-wise large-cap issues.
Within the first hour into trade, DSEX advanced more than 18 points while the CSE All Share Price Index (CASPI) of port city’s bourse rose 44 points at 11:00 when the report was filed.
DSEX, the prime index of the DSE, went up by 18.92 points or 0.33 per cent to stand 5,603 points till then.
Two other indices also rose with the DS30 index, comprising blue chips, gained 9.08 points to reach at 2,165 and the Shariah Index (DSES) advanced 2.59 points to stand at 1,259 points till then.
Turnover, another important indicator of the market, stood at Tk 2.70 billion within the first hour of trading at 11:00 am.
Market operators said bargain hunters showed their buying interest on selective stocks amid optimism.
The market rally came on the back of positive macroeconomic indicators in the country like remittance, foreign reserve coupled with satisfactory dividend declarations, said a top broker.
The remittance increased 33.51 per cent year-on-year in the first eight months of this fiscal year, foreign exchange reserve surpassed the $44 billion mark and the capital base of the country’s banks improved marginally in 2020.
Of the issues traded till then, 139 advanced, 71 declined and 113 remained unchanged.
British American Tobacco Bangladesh was the most traded stock till then with shares worth Tk 269 million changing hands, followed by Summit Power, LankaBangla Finance, LafargeHolcim and BD Finance.
The port city’s bourse – the Chittagong Stock Exchange – (CSE) saw an upbeat trend till then with CSE All Share Price Index- CASPI- rising 44 points to stand at 16,244, also at 11:00am.
Of the issues traded till then, 67 gained, 38 declined and 40 issues remained unchanged with Tk 141 million in turnover.