Stocks open higher; life insurance stocks dominate gainer, turnover chart

The stock market opened higher on Monday as investors put fresh bets on sector-wise stocks, particularly the life insurance sector.

The banking sector stocks remained stuck on the floor despite the central bank withdrawing the lending rate cap in its latest monetary policy statement.

The life insurance stocks again come into investors’ attraction as they dominate the gainer and turnover charts till then.

Following the previous day’s flat note, the key index of the Dhaka Stock Exchange (DSE) went up by 25 points to stand at 6,306, after the first two hours of trading at 12:00 noon.

The DS30 Index, which consists of blue-chip companies, also rose 3.58 points to 2,186 and the DSES Index, which represents Shariah-based companies, gained 4.50 points to 1,368 till then.

Trading activities, however, remained low and stood at Tk 2.37 billion after two hours.

Of the issues traded till then, 143 advanced, 21 declined and 146 remained unchanged on the DSE trading floor.

The life insurance stock dominating the turnover chart with Meghna Life Insurance was the most traded stock till the filing of this report with shares worth Tk 180 million changing hands, closely followed by Sonali Life, Navana Pharma, and Trust Life Insurance.

The port city bourse – the Chittagong Stock Exchange – (CSE) also opened higher with CSE All Share Price Index- CASPI-gaining 48 points to stand at 18,602, also at 12:00 noon.

Of the issues traded till then, 70 advanced, 16 declined and 50 remained unchanged with Tk 71 million in turnover.

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