Stocks open higher after six-day plunge

Stocks opened higher on Tuesday after a six-day plunge as optimistic investors put fresh funds into lucrative shares.

Many investors are optimistic about the return of good governance in the market as the massive reforms underway in the financial sectors, including capital market.

Following the six-day fall, the prime index of the Dhaka Stock Exchange (DSE), went up by 55 points or  0.97 per cent to 5,684 within the first hour of trading at 11:00am, when the report was filed.

The blue-chip DS30 index, a group of 30 prominent companies, also gained 18 points to 2,110 and the DSES index, which represents Shariah-based companies, rrose 12 points to 1,227 till then.

Turnover, another important indicator of the market, stood at Tk 1.36 billion till then.

Of the issues traded until then, 286 advanced, 42 declined, and 50 remained unchanged on the DSE trading floor.

Confidence Cement was the most traded stock till then with shares worth Tk 83 million changing hands, following the news that the board of the company decided to issue rights shares.

The Chittagong Stock Exchange also saw positive trend till then with its All Shares Price Index (CASPI)—gaining 29 points to stand at 16,094 while the Selective Categories Index – CSCX gained 18 points to reach 9702 till then.

[email protected]