Stocks open higher riding on large-cap shares

Stocks witnessed an upward trend on Wednesday, as buyers extended their interest in certain shares by capitalizing on the recent corrections.

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 BAT Bangladesh, Walton, Grameephone, and Power Grid Company.

Following the previous two day’s rise, the prime index of the Dhaka Stock Exchange (DSE), went up by more than 23 points or 0.45 percent to 5,222 at 11:00am, when the report was filed.

The DS30 index, a group of 30 prominent companies, also gained 7 points to 1,901 while the DSES index, which represents Shariah-based companies, also gained 5 points to 1,169 till then.

Turnover, another important indicator of the market, stood at Tk 1.40 billion till then.

Of the issues traded till then, 254 advanced, 63 declined, and 56 issues remained unchanged on the DSE trading floor till then.

Lovello Ice-Cream was the most traded stock with shares worth Tk 146 million changing hands till then.

The Chittagong Stock Exchange saw an upward trend till then, with its All Shares Price Index (CASPI)—gaining  26 points to 14,528 while the Selective Categories Index – CSCX rose 17 points to 8,816 till then.

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