Stocks open higher amid regulatory efforts

Stocks opened higher on Wednesday, as bargain hunters are taking positions on lucrative stocks in anticipation of short-term gain.

Markets operators said optimistic investors were active in the market riding on higher earnings declaration and regulatory efforts to bring back stability in the market.

Following the previous day's big recovery,  the prime index of the Dhaka Stock Exchange (DSE), went up by 78 points or 1.55 per cent to 5,095 at 11:00 am, when the report was filed.

After recent major corrections may stock price came down to a lucrative price level which also prompted investors to go on a buying spree.

The DS30 index, a group of 30 prominent companies, gained 34 points to 1,892 while the DSES index, which represents Shariah-based companies, rose 12 points to 1,125

Turnover, another important indicator of the market, remained low and stood at Tk 1.61 billion till then.

Of the issues traded till then, 344 advanced, 21 declined, and 25 issues remained unchanged on the DSE trading floor till then.

Brac Bank was the most traded stock till then with shares worth Tk 94 million changing hands, as the leading bank secured Tk 10 billion profit in nine months through September this year.

The Chittagong Stock Exchange saw an upward trend till then with its All Shares Price Index (CASPI)—gaining 75 points to stand at 14,093 while the Selective Categories Index – CSCX rose  47 points to reach 8,575 till then.

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