Stocks opened sharply higher on Sunday with the key index of the major bourse crossing the 7,000-mark as buoyant investors continued their buying spree on major sector issues riding on regulatory moves.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 71.44 points or 1.02 per cent to stand at 7,052 points within the first 30 minutes of trading at 10:30 am –the highest since its inception on January 27, 2013.
Two other indices also saw upward trend with the DS30 index, comprising blue chips, rose 23.80 points to reach 2,520 while the Shariah Index (DSES) gained 16 points to stand at 1,524 points till then.
Turnover, another important indicator of the market, stood at Tk 4.62 billion within the first 30 minutes of trading at 10:30 am.
Market experts said stocks extended their rally as buoyant investors are putting fresh bets on major stocks anticipating positive momentum ahead riding on regulatory moves.
Of the issues traded till then, 278 advanced, 61 declined and 31 remained unchanged on the DSE trading floor till then.
Beximco was the most traded stock till then with shares worth Tk 246 million changing hands, closely followed by Beximco Pharma, IFIC Bank, LafargeHolcim, and BSCCL.
The Chittagong Stock Exchange also opened on sharply higher with its All Shares Price Index (CASPI)—gaining 135 points to stand at 20,463 while the Selective Categories Index – CSCX gaining 80 points to reach at 12,263, also at 10:30 am.
Of the issues traded till then 123 advanced, 35 declined and 13 remained unchanged with Tk 136 million in turnover.