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Stocks opened higher on Wednesday as bargain hunters showed interest in lucrative shares in anticipation of short-term gains.
IMF loan approval for Bangladesh and the news of the opportunity for black money investments in the stock market boosted investors’ confidence to some extent, market operators said.
After the first two hours of trading, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by more than 23 points or 0.43 per cent to 5,264 at 12:00 noon, when the report was filed.
The blue-chip DS30 index, a group of 30 prominent companies, also gained nearly 13 points to 1,890 while the DSES index, which represents Shariah-based companies, rose 8 points to 1,157.
A stockbroker said that after a sharp correction in recent weeks, many good stocks came down to a lucrative price level, encouraging a section of investors to put in fresh steak.
Turnover, another important market indicator, stood at Tk 3 billion after two hours of trading.
Of the issues traded till then, 173 advanced, 141 declined, and 77 issues remained unchanged on the DSE trading floor till then.
Unilever was the most traded stock till then with shares worth Tk 601 million changing hands.
The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—gaining 13 points to stand at 14,850 while the Selective Categories Ind58x – CSCX gained 8 points to reach 8936, also at 12:00 noon.