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Stocks opened higher on Tuesday, after a single-day correction, as bargain hunters are showing buying interest in lucrative shares.
The market recovery was driven by increased buying activity across the trading floor, followed by heightened optimism among investors. Stocks such as Best Holdings, Walton, Titas Gas and Khan Brothers saw price jumps at opening.
Following the previous day’s mild correction, DSEX, the key index of the prime bourse, went up by 26 points to 6,451 after the first hour of trading at 11:00am, when the report was filed.
The DSES index, which represents Shariah-based companies, gained 6 points to 1,400 and the DS30 Index, which consists of blue-chip companies, rose 12 points to 2,177.
Turnover also stood at Tk 5.82 billion after the first hour of trading as the bargain hunters were confident enough to put fresh funds on good stocks.
Of the issues traded till then, 216 advanced, 112 declined and 57 remained unchanged on the DSE trading floor.
The newly listed Best Holdings dominated the turnover chart with shares worth Tk 984 million changing, followed by RD Food, ITC, Orion Pharma and IFIC Bank.
The Chittagong Stock Exchange (CSE) also opened higher with the CSE All Share Price Index – CASPI – gaining 36 points to 18,597 at 11:00am.