7 months ago

Stocks open higher after single-day break

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Stocks opened higher on Thursday, after a single-day break, as optimistic investors put fresh bets on lucrative shares.

Following the previous day’s correction, DSEX, the prime index of the DSE, went up by 26.18 points or 0.41 per cent to stand at 6,306, after the first hour of trading at 10:30 am.

Two other DSE indices also saw positive trends till then. The DS30 index, comprising blue chips, advanced 3.76 points to finish at 2,247 and the DSE Shariah Index (DSES) gained 3.18 points to close at 1,382.

Turnover, another important indicator of the market, soared to Tk 4.38 billion after the first hour of trading.

Market insiders said the investors’ confidence remained high amid stability in the foreign exchange market due to the central bank’s steps.

General investors increased their participation hoping that the market will not fall further due to regulatory assurance to keep the ‘floor price’ in place until further order, said a merchant banker.

Of the issues traded till then, 216 advanced, 53 declined and 100 issues remained unchanged on the DSE trading floor.

Fortune shoes was the most traded stock till the filing of this report with shares worth Tk 673 million changing hands.

The Chittagong Stock Exchange also saw an upward trend till then with its All Shares Price Index (CASPI)—rising 60 points to stand at 18,563 while the Selective Categories Index – CSCX – rose 36 points to reach 11,124, also at 10:30 am.

Of the issues traded till then 91 advanced, 33 declined and 55 remained unchanged with a turnover of Tk 55 million.

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