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Stocks open sharply higher on Sunday, with the key index exceeding the 6,000-mark, as buoyant investors are putting fresh bets on lucrative blue-chip shares riding on the recent developments in the country’s political landscape.
Investors are optimistic about the return of good governance in the market as the Bangladesh Securities and Exchange Commission (BSEC) Chairman Prof Shibli Rubayat-Ul Islam resigned on Saturday night.
Prof Shibli stepped down five days after Sheikh Hasina’s government fell and she fled Bangladesh in the face of a civil uprising.
After the first hour of trading, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up 145 points or 2.46 per cent to 6,070 at 11:00pm, when the report was filed.
The blue-chip DS30 index, a group of 30 prominent companies, jumped more than 72 points to 2205 while the DSES index, which represents Shariah-based companies, rose 24 points to 1,299.
Turnover, another important indicator of the market, stood at Tk 8.15 billion till then.
Of the issues traded till then, 282 advanced, 97 declined, and 19 issues remained unchanged on the DSE trading floor till then.
City Bank was the most traded stock till then with shares worth Tk 275 million changing hands.
The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—gaining 621 points to stand at 17421 while the Selective Categories Index – CSCX gained 372 points to reach 10503 also at 11:00am.