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Stocks opened positive on Thursday with thin participation of investors as the bargain hunters are showing buying interest in lucrative shares.
Following the previous three day’s major rise, the market opened higher as the pre-Eid sale pressure eased. This is the last trading day before the Eid-ul-Azha holidays.
The trading on the bourses will remain closed for five days until 18 June.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by more than 21 points or 0.42 per cent to 5,104, after the first hour of trading at 11:00 am, when the report was filed.
Market analysts said after a sharp correction in recent weeks, many good stocks came down to a lucrative price level, which encouraged a section of investors to put in fresh steaks.
Besides, pre-Eid sale pressures also halted alongside many investors not interested in selling shares at lower prices altogether, which helped the market index higher at the opening.
However, a majority of investors remained cautious amid the prevailing volatility in the market, said a leading broker.
Two other indices also opened higher. The DS30 index, which consists of blue-chip companies, gained 6 points to 1,818 while the DSES index, which represents Shariah-based companies, advanced 3 points to 1,104 till then.
Turnover, another important indicator of the market, remained low and amounted to Tk 654 million till then.
Of the issues traded, 208 saw appreciation and 78 witnessed a price fall while 78 remained unchanged.
Asiatic Laboratories was the most traded shares till then with shares worth Tk 66 million changing hands.
The Chittagong Stock Exchange (CSE) also opened on a positive note with its All Shares Price Index (CASPI) gaining 2 points to 14,555.