Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
The stock market opened higher on Wednesday, after five days of sharp fall, as sale pressure from large-cap shares reduced to some extent after floor price removal.
BAT Bangladesh, the second largest market-cap share, advanced 1.41 per cent to Tk 447 in the first hour of trading, after shedding more than 15 per cent in the past two days.
Grameenphone (GP), the largest stock on the Dhaka bourse, is still on the downward trend, losing only 0.24 per cent to Tk 252, after a major fall in the previous three days.
As the price erosion of the largest and second-largest market-cap companies reduced to some extent, the market index managed to stay positive in early trading, market analysts said.
Accordingly, the key index of the prime bourse went up by 18 points to 6,149 after the first hour of trading at 11:00 am, when the report was filed. The DSEX lost 142 points in the past five trading days.
Turnover also stood at Tk 1.95 billion after the first hour of trading.
Of the issues traded till then, 217 advanced, 77 declined, and 76 remained unchanged on the DSE trading floor.
Fortune Shoes was the most-traded stock till then, with shares worth Tk 171 million changing, followed by Fu-Wang Ceramic, Central Pharma, Golden Son and Beacon Pharma.
The Chittagong Stock Exchange (CSE) opened on a positive note with the CSE All Share Price Index – CASPI –gaining 18 points to 17,613, also at 11:00 am.