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The stock market opened slightly higher on Thursday amid volatile trading as investors were active on both sides of the trading fence.
The investors’ buying interest in sector-specific low-cap stocks with short-term gain potential amidst continuous profit-booking sell pressure from cautious investors, market analysts said.
The market movement was led by particular small-cap and junk stocks as they sought to take positions in the quick rallies in anticipation of quick gains.
Small-cap stocks such as Fu-Wang Food continued the investors’ attraction as its stock price almost doubled in just two weeks.
Following the previous day’s marginal gain, the key index of the Dhaka Stock Exchange (DSE) went up by 2.02 points to stand at 6,338, after the first hour of trading at 11:00 am.
The DS30 Index, which consists of blue-chip companies, advanced 0.28 points to 2,194 and the DSES Index, which represents Shariah-based companies, gained 2.60 points to 1,377 till then.
Turnover, a crucial indicator of the market, stood at Tk 2.0 billion after the first hour of trading.
Of the issues traded till then, 88 advanced, 73 declined and 142 remained unchanged on the DSE trading floor.
The port city bourse – the Chittagong Stock Exchange – (CSE) also saw a positive trend with CSE All Share Price Index- CASPI-gaining 12 points to stand at 18,730, also at 11:00 am.
Of the issues traded till then, 35 advanced, 29 declined and 36 remained unchanged with Tk 21 million in turnover.
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