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The Financial Express

Stocks open higher riding on bank shares

| Updated: November 16, 2021 16:03:09


Stocks open higher riding on bank shares

Stocks opened higher on Monday, after the previous day’s sharp decline, as bargain hunters were showing their buying interest on selective bank shares.

Some large-cap stocks such as BRAC Bank, Beximco, Orion Pharma, IFIC Bank and NRBC Bank led the index rise this morning.

Following the previous day’s sharp fall, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 42.69 points or 0.61 per cent to stand at 6,972 within the first hour of trading at 11:00 am.

Two other indices also a saw positive trend till then with the DS30 index, comprising blue chips, gaining 15.89 points to stand at 2,671 while the Shariah Index (DSES) rose 9.06 points to stand at 1,474.

Turnover, another important indicator of the market, stood at Tk 3.67 billion within the first hour of trading at 11:00 am.

Market insiders said the bargain hunters are showing their buying interest on sector-specific stocks, particularly on banking sector stocks ahead of their year-ending.

Of the issues traded till then, 176 advanced, 115 declined and 55 issues remained unchanged on the DSE trading floor.

BRAC Bank was the most traded stock till the filing of this report with shares worth Tk 710 million changing hands, closely followed by Beximco, IFIC Bank, Orion Pharma and NRBC Bank.

The Chittagong Stock Exchange also saw an upward trend till then with its All Shares Price Index (CASPI)—gaining 102 points to stand at 20,396 while the Selective Categories Index – CSCX rose 62 points to reach 12,257, also at 11:00 am.

Of the issues traded till then, 72 advanced, 52 declined, 15 remained unchanged with Tk 82 million in turnover.

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