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Stocks opened higher on Tuesday as bargain hunters showed buying interest in undervalued blue-chip shares amid cautious trading.
Analysts said the opportunistic investors continued their bargain hunting while closely monitoring developments around the Middle East tensions, although persistent caution over the unresolved crisis.
Some investors were also busy with rebalancing their portfolios after the latest earnings disclosures.
Following the previous day’s downturn, the prime index of the Dhaka Stock Exchange (DSE) went up by more than 18 points or 0.35 per cent to 5,296 at 11:00 am, when the report was filed.
The DS30 index, a group of 30 prominent companies, also gained 1 point to 2,023, while the DSES index, which represents Shariah-based companies, rose 8 points to 1,063.
Turnover, another important indicator of the market, stood at Tk 2.5 billion.
Of the issues traded till then, 219 advanced, 95 declined, and 73 issues remained unchanged on the DSE trading floor.
Monno Ceramics was the most traded stock with shares worth Tk 251 million changing hands till then, followed by Beximco Pharma, Monno Fabrics, and City Bank.
The Chittagong Stock Exchange also saw a positive trend till then, with its All Shares Price Index (CASPI)—gaining 42 points to 14,826, while the Selective Categories Index – CSCX rose more than 23 points to 9,116.
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