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Stocks opened higher on Monday, the opening session after week-long Eid holidays as investors continued to take positions in the perceived attractive stocks.
The upcoming national budget announcement schedule for June 11 also encouraged some investors to take positions on lucrative stocks. However, the latest regulatory directive on a stringent cash dividend policy for banks induced caution among investors regarding its potential implications for the heavyweight banking equities.
The bourses remained closed from May 25 to May 31, including weekly holidays, on the occasion of Eid-ul-Azha, one of the largest religious festivals for Muslims.
Following the pre-Eid positive closing, the prime index of the Dhaka Stock Exchange, went up by more than 38 points or 0.71 per cent to 5,373, after the first hour of trading at 11:00am, when the report was filed.
The DS30 index, which consists of blue-chip companies, gained 10 points to 2,041 while the DSES index, which represents Shariah-based companies, rose 6 point to 1,088 till then.
Turnover, another important indicator of the market stood at Tk 2.65 billion till then.
Of the issues traded, 233 saw appreciation and 76 witnessed price fall while 75 remained unchanged. NCC Bank was the most traded stock with shares worth Tk 275 million changing hands till then.
The Chittagong Stock Exchange, also saw positive trend till then with its All Shares Price Index (CASPI)—rose 13 points to 14,922 while the Selective Categories Index – CSCX gained 12 points to 9182 till then.
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