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Stocks open sharply higher on Thursday, with the key index exceeding the 5700-mark, as buoyant investors are putting fresh bets on lucrative blue-chip shares riding on the recent developments in the country’s political landscape.
Investors are optimistic about the return of good governance in the market after the resignation of Sheikh Hasina, market experts said.
The market rally was largely supported by fundamentally-strong stocks and blue chip stocks.
After the first hour of trading, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up 115 points or 2.05 per cent to 5,734 at 11:00 am, when the report was filed.
The blue-chip DS30 index, a group of 30 prominent companies, jumped more than 48 points to 2070 while the DSES index, which represents Shariah-based companies, rose 16 points to 1,235.
Turnover, another important indicator of the market, stood at Tk 4.15 billion till then.
Of the issues traded till then, 249 advanced, 112 declined, and 27 issues remained unchanged on the DSE trading floor till then.
BAT Bangladesh was the most traded stock till then with shares worth Tk 250 million changing hands.
The Chittagong Stock Exchange (CSE) also opened higher with its All Shares Price Index (CASPI)—gaining 372 points to stand at 16310 while the Selective Categories Index – CSCX gained 224 points to reach 9834 also at 11:00 am.
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