Stocks opened higher on Thursday, with the key index of the prime bourse hitting a new high, as investors continued to put fresh bets on major stocks amid high expectations.
DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 19.94 points or 0.30 per cent to stand at 6,555 points within the first 30 minutes of trading when the report was filed at 10:30 am – also the highest since its inception in 2013.
Two other indices also saw an upbeat trend at the opening as the DS30 index, comprising blue chips, rose 1.72 points to reach 2,368 and the Shariah Index (DSES) gained 6.95 points to stand at 1,431 points till then.
Turnover, another important indicator of the market, stood at Tk 3.78 billion within the first 30 minutes of trading at 10:30 am.
Market experts said stocks climbed a record high almost every day as more and more investors joined the rally with an expectation of better returns from the bullish market.
The investors were putting fresh bets on large-cap stocks, anticipating positive momentum ahead as the Bangladesh Bank unveiled another expansionary monetary policy for this fiscal year, said a merchant banker.
He noted that the institutional investors continued their buying binge as they hope the index will rise further as money flow in the banking sector may increase.
Of the issues traded till then, 241 advanced, 88 declined and 34 remained unchanged on the DSE trading floor till then.
Malek Spinning Mills was the most traded stock till then with shares worth Tk 250 million changing hands, closely followed by IFIC Bank, Makson Spinning Mills, FAR Chemicals, and GPH Ispat.
The port city bourse – the Chittagong Stock Exchange – (CSE) saw a positive trend till then with CSE All Share Price Index- CASPI-rising 60 points to stand at 19,074, also at 10:30 am.
Of the issues traded till then 70 advanced, 20 declined and 31 remained unchanged with Tk 42 million in turnover.