Stocks open higher after three-day slump

Stocks opened higher on Wednesday, after three days plunge as optimistic investors buying lucrative shares in anticipation of quick gain.

Investors are also expecting a reduction in the additional tariff as the Bangladesh government is negotiating with the US administration.

The US government last week announced to impose 37 per cent tariff on Bangladeshi products to export in USA.

Market operators said the investors’ buying interest on certain large-cap stocks has added strength to the market’s recovery.

Following the previous day’s fall, the prime index of the Dhaka Stock Exchange (DSE), went up by more than 34 points or 0.65 percent to 5,219 at 11:00 am, when the report was filed.

The DS30 index, a group of 30 prominent companies, also gained 10 points to 1,935 while the DSES index, which represents Shariah-based companies, rose   11 points to 1,177 till then.

Turnover, another important indicator of the market, stood at Tk 1.56 billion till then.

Of the issues traded till then, 225 advanced, 86  declined, and 77 issues remained unchanged on the DSE trading floor till then.

BSC was the most traded stock with shares worth Tk 82 million changing hands till then.

The Chittagong Stock Exchange also saw upward trend till then with its All Shares Price Index (CASPI)—gaining 18 points to 14,551 while the Selective Categories Index – CSCX rose more than 12 points to 8,857 till then.

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