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Stocks opened higher on Sunday as bargain hunters chose to take positions in the beaten-down shares in anticipation of short-term gain.
However, most of the investors were reluctant to make fresh bets on stocks amid a lack of confidence amid prevailing uncertainties.
Price appreciation of selective major stocks such as Grameenphone, Robi Axiata, Islami Bank, Beacon Pharma, and BAT Bangladesh led the market rally.
Following the previous day’s sharp gain, the prime index of the Dhaka Stock Exchange (DSE) went up by 62 points, or 1.18 per cent, to 5,240 at 11:00 am, when the report was filed.
The DS30 index, a group of 30 prominent companies, gained 24 points to 1,932 while the DSES index, which represents Shariah-based companies, rose 23 points to 1,176.
Turnover, another important indicator of the market, remained low and amounted to Tk 1.45 billion till then.
Of the issues traded till then, 283 advanced, 37 declined, and 49 issues remained unchanged on the DSE trading floor till then.
Orion Infusion was the most traded stock with shares worth Tk 263 million changing hands.
The Chittagong Stock Exchange saw an upward trend till then with its All Shares Price Index (CASPI)—gaining 78 points to stand at 14,512 while the Selective Categories Index – CSCX rose 42 points to 8,842 till then.