Stocks witnessed an upward trend in the early hours of trading of the last trading session of the year 2020 on Wednesday as investors remained active on major sectors issues amid year-end dividend expectations.
Meanwhile, Robi – the biggest-ever issue-- continued to rise for the five trading days and reached Tk 29.80 each at 10:30 am, soaring 9.96 per cent.
Following the previous five days’ upbeat trends, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened on a positive note amid higher trading activities.
Within the first 30 minutes of trading, the DSEX rose more than 25 points while the CSE All Share Price Index (CASPI) of port city’s bourse advanced 66 points at 10:30 am when the report was filed.
DSEX, the prime index of the DSE, went up by 25.28 points or 0.47 per cent to reach 5,383 points at 10:30 am.
Two other indices also saw an upward trend till then. The DS30 index, comprising blue chips, advanced 15.68 points to reach 1,952 points and the Shariah Index (DSES) rose 2.60 points to stand 1,236 points till then.
Market operators said the investors continued their buying appetite on sector-wise stocks amid growing confidence stemming from regulatory actions and the gradual traction in economic activities
As the Covid-19 vaccination has started in the major trade partners of Bangladesh, investors’ confidence strengthened as this indicates a continued rebound of the global economy, said a leading broker.
He noted that the regulatory efforts to build a stable and vibrant capital market and enlistment of quality IPO’s in the market also tempted investors to stay afloat on the trading floor.
Turnover, another important indicator of the market, stood at Tk 2.36 billion within 30 minutes of trading when the report was filed at 10:30 am.
Of the issues traded till then, `168 advanced, 71 declined and 93 remained unchanged.
Beximco was the most traded stock till then with 7.48 million shares worth Tk 412 million changing hands, followed by Beximco Pharma, IFIC Bank, Sonar Bangla Insurance.
The port city bourse – the Chittagong Stock Exchange – also saw an upward trend till then with CSE All Share Price Index- CASPI-soaring 66 points to stand at 15,541, also at 10:30 am.
The Selective Categories Index – CSCX also rose 39 points to reach 9,371 till then.
Of the issues traded till then, 50 gained, 28 declined, and 17 issues remained unchanged with Tk 64 million in turnover.