Stock open higher as small-cap surge

Stocks open higher on Sunday as bargain hunters put fresh bets on rumour-based small-cap stocks in anticipation of short-term gains despite the country-wide hartal enforced by BNP.

A section of investors chased low-performing stocks again such as Central Pharma, Generation Next Fashion, Ratanpur Steels and Olympic Accessories which topped the gainers list till then.

Following the previous week’s fall, DSEX, the prime index of the Dhaka Stock Exchange (DSE), saw 9.70 points higher to 6,243 after the first two hours of trading at 12:00 noon.

The DS30 Index, which consists of blue-chip companies, rose 1.66 points to 2,108 while the DSES index, which represents Shariah-based companies, advanced 1.85 points to 1,354.

Turnover remained low and total turnover stood at Tk 2.70 billion after the first two hours of trading.

Small-cap stock Pacific Denims became the most-traded stock till then with shares worth Tk 128 million changing hands, followed by Dominage Steels, Yakin Polymer, Central Pharma and Emerald Oil Industries.

Of the issues traded till then, 100 advanced, 45 declined and 142 remained unchanged on the DSE trading floor.

The Chittagong Stock Exchange (CSE) also opened higher with the CSE All Share Price Index – CASPI – gaining 13 points to 18,509 after two hours of trading.

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