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The Dhaka Stock Exchange (DSE) opened higher on Tuesday with rising investor participation as buoyant investors put fresh funds on lucrative stocks in anticipation of good return.
Following the previous day’s gain, DSEX, the key index of the prime bourse, went up by 38 points to 6,292 after the first hour of trading at 11:00am, when the report was filed.
Two other indices also saw positive trends until then. The DS30 Index, which consists of blue-chip companies, rose more than 11 points to 2,159 while the DSES index, which represents Shariah-based companies, gained 3 points to 1,384.
Turnover also stood at Tk 4.37 billion after the first hour of trading as the bargain hunters were confident enough to put fresh funds on good stocks.
Market experts said the buying appetite of institutional investors is putting money on fundamentally sound shares in anticipation of a good return.
Meanwhile, the securities regulator has lifted the floor price of 23 more companies, encouraged by market recovery in the second trading session on Monday without the price restriction.
Bangladesh Securities and Exchange Commission on Thursday withdrew the floor price of all securities, except for 35 large-cap companies that can cause a significant impact on the movement of the broad index because of their notable free float shares.
Having seen positive signs in the market, the regulator issued a directive on Monday removing the floor price of 23 more companies, although floor price remains active for 12 more companies.
Of the issues traded till then, 182 advanced, 161 declined and 40 remained unchanged on the DSE trading floor.
Fortune Shoes became the most-traded stocks till then, with shares worth Tk 492 million changing, followed by Rupali Bank, Deshbandhu Polymer, and Khan Brothers PP Woven Bag.
However, the Chittagong Stock Exchange (CSE) opened marginally lower with the CSE All Share Price Index – CASPI – losing 42 points to 18,193 after the first hour of trading.