The Financial Express

Stocks open marginally higher amid lockdown

| Updated: April 22, 2021 16:41:04

Stocks open marginally higher amid lockdown

Stocks opened marginally higher on Tuesday as bargain hunters remained active on sector-wise lucrative issues as virus-related lockdown worries eased somewhat.

However, the presence of investors on the trading floor remained very thin due to the ongoing lockdown and reduced trading hours. Most investors executed their trading online or through mobile apps.

The brokerage houses also discourage clients from rushing into the brokerage house and encourage more for trading through mobile apps and other internet-based devices amid the pandemic.

The market opened on a positive trend this morning as DSEX, the prime index of the Dhaka Stock Exchange (DSE), advanced 8.84 points or 0.16 per cent to stand at 5,358 within the first 30 minutes of trading.

Market analysts said the easing of Covid-19 restrictions-related worries among investors contributed to the rally.

Lucrative price levels of many stocks coupled with lowering the circuit breaker limit to 2.0 per cent from the existing 10 per cent for 66 companies encouraged investors to take positions on these stocks, they said.

The DS30 index, comprising blue chips, advanced 3.84 points to reach 2,050 points. However, The Shariah Index (DSES) lost 0.03 points to stand 1,216 points till then.

Turnover, another important indicator of the market, stood at Tk 2.35 billion within the first 30 minutes of trading when the report was filed at 10:30 am.

Of the issues traded till then, 114 advanced, 103 declined, and 65 remained unchanged on the DSE trading floor.

Beximco - the flagship company of Beximco Group- was the most traded stock till then with shares worth Tk 601 million changing hands, followed by Eastern Insurance, Asia Pacific Insurance, Beximco Pharma and BD Finance.

The port city bourse – the Chittagong Stock Exchange – (CSE) also opened marginally higher with CSE All Share Price Index-CASPI-gaining 25 points to stand at 15,496, also at 10:30am.

Of the issues traded till then 42 advanced, 41 declined, and 12 remained unchanged with Tk 48 million in turnover.

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