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Stocks open positive on Wednesday as bargain hunters put fresh bets on selective stocks riding on the news that the IMF approved the second instalment loans for Bangladesh.
The International Monetary Fund (IMF) on Tuesday approved the release of $689 million in the second tranche of the $4.7 billion loan package allocated for Bangladesh.
Market insiders said loans approval news boosted the confidence of investors.
As a result, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 10.82 points to 6,274 after the first two hours of trading at 12:00 noon.
The DS30 Index, which consists of blue-chip companies, rose 1 point to 2,109 while the DSES index, which represents Shariah-based companies, advanced 1.25 points to 1,366.
Turnover jumped to Tk 3.56 billion after the first two hours of trading.
Small-cap stock Olympic Accessories became the most-traded stocks till then with shares worth Tk 231 million changing, followed by Orion Infusion, Pacific denims and Central Pharma.
Of the issues traded till then, 111 advanced, 60 declined and 141 remained unchanged on the DSE trading floor.
The Chittagong Stock Exchange (CSE) also opened higher with the CSE All Share Price Index – CASPI – gaining 31 points to 18,602 after two hours of trading.