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Stocks opened higher on Thursday as bargain hunters chose to take positions in the beaten-down shares in anticipation of shorter-term gain.
The central bank’s approval of a Tk 30 billion sovereign-guaranteed loan for the Investment Corporation of Bangladesh (ICB) boosted investors' confidence to some extent, market operators said.
Price appreciation of selective major stocks such as BAT Bangladesh, Robi Axiata, Brac Bank, LafargeHolcim and Marico Bangladesh contributed to the index rise.
Following the previous day’s rise, the prime index of the Dhaka Stock Exchange (DSE), went up by 41 points or 0.80 per cent to 5,239 at 11:00 am, when the report was filed.
The DS30 index, a group of 30 prominent companies, gained 17 points to 1,934 while DSES index, which represents Shariah-based companies, rose 12 points to 1,178.
Turnover, another important indicator of the market, stood at Tk 1.20 billion till then.
Of the issues traded till then, 293 advanced, 33 declined, and 48 issues remained unchanged on the DSE trading floor till then.
NRB Bank was the most traded stock till then with shares worth Tk 60 million changing hands.
The Chittagong Stock Exchange saw an upward trend till then with its All Shares Price Index (CASPI)—gaining 43 points to stand at 14,512 while the Selective Categories Index – CSCX rose 30 points to 8,842 till then.