Stocks open higher after four days of turmoil

After a big fall in the previous four trading days, stocks opened higher on Tuesday as bargain hunters are taking positions on lucrative shares in anticipation of short-term gains.

After one and half hours of trading, the prime index of the Dhaka Stock Exchange (DSE) went up by 40 points or 0.82 per cent to 4,938 at 11:30 am.

After a major fall of 343 points in just four trading days, some investors went on buying selective stocks as their prices came down to a lucrative price level, said a stockbroker.

The DS30 index, a group of 30 prominent companies, gained 27 points to 1,832 while the DSES index, which represents Shariah-based companies, rose 8 points to 1,095.

Turnover, another important indicator of the market, remained low and stood at Tk 1.52 billion till then.

Of the issues traded, 245 advanced, 98 declined, and 40 issues remained unchanged on the DSE trading floor when the report was filed.

BRAC Bank was the most traded stock with shares worth Tk 59 million changing hands, as the leading bank secured Tk 10 billion profit in nine months through September this year.

The Chittagong Stock Exchange (CSE) also saw an upward trend till then with its All Shares Price Index (CASPI)—gaining 33 points to stand at 13,855 while the Selective Categories Index – CSCX rose 21 points to reach 8,427.

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