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The Financial Express

Stocks open on flying note riding on banks

FE Online Report | Published: March 18, 2020 11:45:02 | Updated: March 19, 2020 11:26:58


Stocks open on flying note riding on banks

Stocks witnessed steep rise at the opening session in the morning riding on the news that the banks have started to invest in the share market from today (Wednesday).

The banks agreed to invest in the market from today after holding a meeting on Monday of the chairmen and managing directors of all the banks-- both public and private ones--with Finance Minister AHM Mustafa Kamal.

However, growing tension over the impacts of coronavirus outbreak remained in the investors’ mind.

Within five minutes of trading, DSEX rose more than 105 points after losing 458 points in the past three sessions.

After 15 minutes of trading, DSEX rose more than 71 while the CSE All Share Price Index (CASPI) of port city’s bourse advanced 112 points at 10:45am when the report was filed.

DSEX, the prime index of the DSE, went up by 71.35 points or 1.90 per cent to stand 3844 points at 10:45am.

Two other indices also saw upturn till then. The DS30 index, comprising blue chips, rose 19.20 points to reach at 1,284 and the DSE Shariah Index gained 16.19 points to stand at 890 points till then.

Turnover, the important indicator of the market, stood at Tk 584 million on DSE when the report was filed at 10:45am.

Monno Ceramic was the most traded stocks till then with shares worth Tk 32 million changing hands, closely followed by Orion Pharma, LafargeHolcim, Square Pharma and KPCL.

Of the issues traded till then, 245 advanced, 26 declined and 25 remained unchanged on the DSE trading floor.

The port city’s bourse – the Chittagong Stock Exchange (CSE) –also saw upturn till then with CSE All Share Price Index- CASPI-advancing 112 points to stand at 11,689 points, also at 10:45am.

The Selective Category Index – CSCX – also gained 70 points to stand at 7,084 points till then.

Of the issues traded till then, 47 advanced, 11 declined and 3 issues remained unchanged with Tk 8.0 million in turnover.

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