Stocks open higher riding on bank shares

Stocks witnessed an upward trend on Tuesday, as buyers extended their interest in certain bank shares.

Market insiders some investors continued to chase to take positions in the trendy large-cap stocks riding on declining trends of treasury yields and bank interest rates.

The market recovery was aided by price appreciation of selective bank stocks ahead of their earnings disclosures.

Following the previous day's fall, the prime index of the Dhaka Stock Exchange (DSE), went up by more than 18 points or 0.35 per cent to 5,224 at 11:00 am, when the report was filed.

The DS30 index, a group of 30 prominent companies, gained 1.0 points to 1,887 while the DSES index, which represents Shariah-based companies, also gained 0.46 points to 1,162 till then.

Turnover, another important indicator of the market, stood at Tk 1.45 billion till then.

Of the issues traded till then, 233 advanced, 81 declined, and 63 issues remained unchanged on the DSE trading floor till then.

Intraco Refueling Station was the most traded stock with shares worth Tk 93 million changing hands till then.

The Chittagong Stock Exchange saw an upward trend till then, with its All Shares Price Index (CASPI)—gaining  30 points to 14,587 while the Selective Categories Index – CSCX rose 22 points to 8,868 till then.

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