Stocks witnessed an upward trend in early trading on Tuesday as optimistic investors went on buying binge at the lowest possible prices riding on the regulatory move for ensuring mandatory shareholding rules.
The stock market regulator has asked 61 directors of 22 listed companies to ensure a minimum 2.0 per cent shares in their own companies within 45 days to continue their directorship.
Within 30 minutes of trading, DSEX gained more than 5.0 points while the CSE All Share Price Index (CASPI) of port city’s bourse rose 21 points at 10:30 am when the report was filed.
DSEX, the prime index of the DSE, went up by 5.62 points or 0.14 per cent to stand 4,000.38 points at 10:30 am.
Two other indices also saw positive trend till then. The DS30 index, comprising blue chips, advanced 3.86 points to reach at 1,346 and DSE Shariah Index gained 2.29 points to stand at 924 points till then.
Turnover, the important indicator of the market, stood at Tk 350 million on DSE when the report was filed at 10:30 am.
Market operators, however, said the many investors remained worried about the adverse impact of worsening pandemic situation with looming uncertainty about economic growth and the regulator-enforced floor price system.
Beacon Pharma was the most traded stocks till then with shares worth Tk78 million changing hands, closely followed by Orion Pharma, Beximco Pharma, Progressive Life Insurance, and Rupali Life Insurance.
The port city’s bourse – the Chittagong Stock Exchange – (CSE) also saw upward trend till then with the CSE All Share Price Index- CASPI-gaining 21 points to stand at 11,359 points, also at 10:30 am.
The Selective Category Index – CSCX – also rose 13 points to stand at 6,879 points till then.
Of the issues traded till then, 17 advanced, 4 declined and 26 issues remained unchanged with Tk 3.85 million in turnover.