Stocks open higher amid work absentation at BSEC

Stocks opened higher on Thursday as investors continued taking positions in the sector-specific shares despite caoutic sisuation at the securities regulator office.

Employees of the Bangladesh Securities and Exchange Commission observing work absentaion, demanding regisnation of its chairman and commissioners as the commission send  an executive director into forced retirement.

Market insiders said despite that some investors continued their chase to take positions in the trendy large-cap stocks to capitalize on the market’s current upbeat vibe riding on declining trends of treasury yields and bank interest rates.

Analysts believe the Bangladesh Bank’s (BB) decision to keep its policy rate unchanged amid falling inflation and treasury yields is a positive signal for the equity market outlook.

The investors’ participation in certain blue-chip stocks added strength to the ongoing market’s recovery.

Following the previous day’s rise, the prime index of the Dhaka Stock Exchange (DSE), went up by more than 26 points or 0.50 percent to 5,223 at 11:00am, when the report was filed.

The DS30 index, a group of 30 prominent companies, also gained 7 points to 1,897 while the DSES index, which represents Shariah-based companies, also gained  6 points to 1,165 till then.

Turnover, another important indicator of the market, stood at Tk 1.06 billion till then.

Of the issues traded till then, 251 advanced, 59 declined, and 64 issues remained unchanged on the DSE trading floor till then.

Orion Infusion was the most traded stock with shares worth Tk 56 million changing hands till then.

The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—gaining 4 points to 14,510 while the Selective Categories Index – CSCX rose more than 5 points to 8,798 till then.

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