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Stocks opened higher on Monday as bargain hunters showed buying interest in undervalued blue-chip shares after the recent correction.
Analysts said the opportunistic investors engaged in bargain hunting while closely monitoring developments around the Middle East tensions, although persistent caution over the unresolved crisis.
Some investors were also busy with rebalancing their portfolios after the latest earnings disclosures.
Following the previous day’s downturn, the prime index of the Dhaka Stock Exchange (DSE) went up by more than 23 points or 0.45 per cent to 5,288 at 11:00 am, when the report was filed.
The DS30 index, a group of 30 prominent companies, also gained 4 points to 2,023, while the DSES index, which represents Shariah-based companies, rose 6 points to 1,056 till then.
Turnover, another important indicator of the market, stood at Tk 2.91 billion.
Of the issues traded till then, 244 advanced, 76 declined, and 66 issues remained unchanged on the DSE trading floor.
City Bank was the most traded stock with shares worth Tk 192 million changing hands, followed by Tung Hai Knitting, NCC Bank, Eastern Bank, and Shepherd Industries.
The Chittagong Stock Exchange also saw a positive trend till then with its All Shares Price Index (CASPI)—gaining 30 points to 14,818, while the Selective Categories Index – CSCX rose more than 23 points to 9,109.
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