Stocks open higher after two-day slump

Stocks opened higher on Sunday, after two-day plunged, as optimistic investors putting fresh funds on selective banks shares, in anticipation of short-term gain.

Investors are optimistic about the return of good governance in the market as the massive reforms underway in the capital market and the securities regulator is going to form a taskforce for necessary reforms.

Following the previous day’s sharp decline due to downgrading 28 companies, the prime index of the Dhaka Stock Exchange (DSE), went up by 54 points or 0.96 percent to 5,693 within the first hour of trading at 11:00am, when the report was filed.

After one-day, the DSE placed Energypac Power to “B” category from the existing “Z” category with effect from today as the company has reported disbursement of 5 per cent cash dividend for the year ended June 30, 2023.

The blue-chip DS30 index, a group of 30 prominent companies, also gained 11 points to 2,076 and the DSES index, which represents Shariah-based companies, jumped 17 points to 1,279 till then.

Turnover, another important indicator of the market, stood at Tk 1.63 billion till then.

Of the issues traded till then, 228 advanced, 97 declined, and 40 issues remained unchanged on the DSE trading floor till then.

Islami Bank Bangladesh was the most traded stock till then with shares worth Tk 162 million changing hands.

The Chittagong Stock Exchange also saw a positive trend till then with its All Shares Price Index (CASPI)—gaining 23 points to stand at 15816 while the Selective Categories Index – CSCX gained 20 points to reach 9,591 till then.

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