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Stocks opened higher on Tuesday as buoyant investors are putting fresh bets on lucrative shares in anticipation of short-term gain amid regulatory measures.
The Bangladesh Securities and Exchange Commission (BSEC) formed a five-members probe committee on Sunday to investigate 12 issues, including the fund raising by Beximco Sukuk.
The securities regulator also brought back the lower limit of the circuit breaker mechanism to 10 per cent from 3 per cent for all publicly traded companies, along with some decisions last week, which boosted investors’ confidence.
Investors are optimistic about the return of good governance in the market as the massive reforms underway in the financial sectors, including capital market.
Following the news, the prime index of the Dhaka Stock Exchange (DSE), went up by 26 points or 0.45 per cent to 5,829 within the first hour of trading at 11:00 am, when the report was filed.
The blue-chip DS30 index, a group of 30 prominent companies, also gained 9 points to 2,143 and the DSES index, which represents Shariah-based companies, rose 7 points to 1,243.
Turnover, another important indicator of the market, stood at Tk 1.92 billion till then.
Of the issues traded till then, 190 advanced, 122 declined, and 69 issues remained unchanged on the DSE trading floor.
BRAC Bank was the most traded stock till then with shares worth Tk 132 million changing hands, followed by GP, Sonali Paper, Olympic Industries, and Shahjibazar Power.
The Chittagong Stock Exchange (CSE) also saw a positive trend till then with its All Shares Price Index (CASPI)—gaining 2 points to stand at 16,594 while the Selective Categories Index – CSCX gained 2 points to reach 10,004.