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Stocks opened higher on Monday as the bargain hunters showed their buying interest in sector-wise issues by putting some confidence due to the re-introduction of floor prices.
The continuous fall of stock prices compelled the Bangladesh Securities and Exchange Commission (BSEC) Thursday to impose ‘floor price’ on all securities.
Following the previous day’s steep rise, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 58.02points or 0.94 per cent to stand at 6,192, after the first hour of trading at 11:00 am.
Two other indices saw an upward trend till then. The DS30 Index, which consists of the blue-chip companies, soared 18.86 points to 2,212 while the DSES Index, which represents Shariah-based companies, rose 12.12 points to 1,351.
Turnover, another important indicator of the market, stood at Tk 2.82 billion after the first hour of trading.
Market operators said the regulatory intervention kept the market rally the securities regulator set floor price on all securities.
The bargain hunters came up to buy some of their wanted stocks at a lucrative price after the recent steep correction, they said.
Of the issues traded till then, 277 advanced, 34 declined and 60 issues remained unchanged on the DSE trading floor.
Beximco was the most traded stock till then with shares worth Tk 143 million changing hands, closely followed by Square Textile, Esquire Knit, JMI Hospital Requisite, and Intraco Refueling Station.
The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—gaining 125 points to stand at 18,101, while the Selective Categories Index – CSCX gained 75 points to reach 10,846, also at 11:00 am.
Of the issues traded till then 104 advanced, seven declined and 47 were unchanged with turnover of Tk 46 million till then.