Stocks opened higher on Wednesday with the key index of the Dhaka Stock Exchange (DSE) crossing 6900-mark as buoyant investors continued their buying spree.
After a record breaking rally in the past few days, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 24.62 points or 0.35 per cent this morning to stand at 6,909 points within the first 30 minutes of trading at 10:30 am – the highest since its inception more than eight years back in 2013.
Two other DSE indices also witnessed gain in early trading with the DS30 index, comprising blue chips, rose 4.35 points to reach 2,467 and the Shariah Index (DSES) advanced 6.18 points to stand at 1,500 points till then
Turnover, another important indicator of the market, stood at Tk 4.17 billion within the first 30 minutes of trading at 10:30 am.
Market experts said stocks kept record-breaking rally as investors are putting fresh bets on stocks anticipating positive momentum ahead as the money market has huge liquidity.
As the market indices climbed a record high every day, more and more investors joined the rally with an expectation of better returns from the bullish market, said a merchant banker.
He noted that the institutional investors preferred buying stocks as they hope that the index may rise further this year.
Of the issues traded till then, 236 advanced, 80 declined and 47 remained unchanged on the DSE trading floor.
Robi Axiata was the most traded stock till the filing of this report with shares worth Tk 230 million changing hands, closely followed by, Fu-Wang Food, LankaBangla Finance, Shahjibazar Power and Power Grid Company.
The Chittagong Stock Exchange also saw a positive trend till then with its All Shares Price Index (CASPI)—gaining 32 points to stand at 20,097 while the Selective Categories Index – CSCX rising 18 points to reach at 12,048, also at 10:30 am.
Of the issues traded till then 86 advanced, 45 declined and 20 remained unchanged with Tk 117 million in turnover.