The stock market opened higher on Thursday as investors are putting fresh funds into sector-wise stocks, particularly the life insurance sector.
The market is on the way to recovery which can be attributed to the investors’ perception that the upcoming income tax act will not impose on their capital gains from listed securities, market operators say.
Following the previous day’s modest rise, the key index of the Dhaka Stock Exchange (DSE) went up by 16.54 points to stand at 6,355, after the first hour of trading at 11:00 am.
The DS30 Index, consisting of blue-chip companies, also rose 3.65 points to 2,192 and the DSES Index, representing Shariah-based companies, gained 2.28 points to 1,377 till then.
Trading activities also improved and stood at Tk 3.71 billion at 11:00 am.
Of the issues traded till then, 107 advanced, 55 declined and 108 remained unchanged on the DSE trading floor.
The life insurance stock dominating the turnover chart with Fareast Islami Life Insurance was the most traded stock till the filing of this report with shares worth Tk 242 million changing hands, closely followed by Meghna Life Insurance, Popular Life, Chartered Life Insurance and Navana Pharma.
The port city bourse – the Chittagong Stock Exchange – (CSE) also opened higher with CSE All Share Price Index- CASPI-gaining 75 points to stand at 18,778, also at 11:00 am.
Of the issues traded till then, 52 advanced, 20 declined and 33 remained unchanged with Tk 40 million in turnover.