Stocks edged higher at opening on Thursday amid choppy trading as investors remained cautious amid a rising trend of Covid-19 infections and deaths in recent days.
Following the previous day’s sharp decline, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) saw a marginal rise in early trading.
Within the first hour of trading, the DSEX rose more than 13.74 points while the CSE All Share Price Index (CASPI) of port city’s bourse gained 38 points at 11:00 am when the report was filed.
DSEX, the prime index of the DSE, went up by 13.74 points or 0.25 per cent to stand 5,343 points till then.
Two other indices also saw a positive trend till then with the DS30 index, comprising blue chips, gained 0.20 to reach at 2,024 points and the Shariah Index (DSES) rose 0.30 point to stand 1,221 points till then.
Turnover, another important indicator of the market, stood at Tk 1.31 billion within the first hour of trading when the report was filed at 11:00 am.
Market analysts said investors remained worried as the number of deaths and infections kept rising alarmingly in recent days.
The investors adopted a cautious approach and decided to sit on cash as they favour to watch the market due to an uncertain future in the backdrop of rising Covid-19 cases, said a top broker.
Of the issues traded till then, 164 gained, 36 declined, and 75 issues remained unchanged on the DSE trading floor till then.
Beximco was the most traded stock till then with shares worth Tk 225 million changing hands, followed by Rebublic Insurnace, LafargeHolcim, Beximco Pharma, and Robi.
The port city bourse – the Chittagong Stock Exchange – also saw a positive trend till then with CSE All Share Price Index- CASPI-gaining 38 points to stand at 15,462 while the Selective Categories Index – CSCX rising 22 points to react 9,326, also at 11:00 am.
Of the issues traded till then 51 advanced, 16 declined, and 18 remained unchanged with Tk 68 million in turnover.