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Stocks opened higher on Sunday, as bargain hunters went on buying lucrative shares after a recent sharp price fall.
Following the previous week’s major fall, the market opened higher as major stocks such as Grameenphone, Berger Paints, BAT Bangladesh, Renata and ICB saw price hikes in early trading.
As a result, DSEX, the prime index of the Dhaka Stock Exchange, went up by more than 22 points or 0.42 per cent to 5,274, after the first hour of trading at 11:00 am, when the report was filed.
Market analysts said the lucrative price level of fundamentally sound stocks also attracted bargain hunters, taking the market in the green zone.
However, many 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 2 points to 1,876 while the DSES index, which represents Shariah-based companies, advanced 6 points to 1,148 till then.
Turnover, another important indicator of the market, remained low and amounted to Tk 1.06 billion till then.
Of the issues traded, 230 saw appreciation and 94 witnessed price fall while 44 remained unchanged.
The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI) gaining 3 points to 15075, also at 11:00 am.
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