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The Financial Express

Stocks open higher amid increased participation

| Updated: May 11, 2022 10:14:13


Investors monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files Investors monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files

The market opened higher on Monday as bargain hunters showed their buying interest in sector-wise stocks.

The number of investors on the trading floor also surged as most investors returned to Dhaka after the Eid break.

Following the previous day’s gain, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 29.99 points or 0.45 per cent to stand at 6,699, after the first hour of trading at 11:00 am.

Two other DSE indices also saw an upbeat note till then with the DS30 index, comprising blue chips, advancing 9.70 points to reach 2,458 and the Shariah Index (DSES) rose 9.58 points to stand at 1,456.

Turnover, another important indicator of the market, stood at Tk 3.16 billion within the first hour of trading.

Market operators said bargain hunters favoured taking a position in selective large-cap issues taking advantage of the recent corrections.

Participation observed a considerable rise as the bottom circuit breaker raised to 5.0 per cent, giving investors a breather to engage in fresh investment activities, they said.

“Followed by earnings declarations, the optimistic investors exhibited their buying binge on sector-specific issues that met their expectations,” said a leading broker.

Of the issues traded till then, 269 advanced, 53 declined, and 49 issues remained unchanged on the DSE trading floor.

Shinepukur Ceramics was the most traded stock till the filing of this report with shares worth Tk 232 million changing hands, closely followed by Fortune Shoes, JMI Hospital Requisite Manufacturing, BSC and BDCOM Online.

The Chittagong Stock Exchange also saw an upward trend till then with its All Shares Price Index (CASPI)—gaining 56 points to stand at 19,651, while the Selective Categories Index – CSCX – advanced 33 points to reach 11,790 at 11:00 am.

Of the issues traded till then, 106 advanced, 35 declined, and 19 unchanged with Tk 87 million in turnover.

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