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The Financial Express

Stocks open on upbeat note amid high optimism

| Updated: August 24, 2021 17:14:41


Stocks open on upbeat note amid high optimism

Stocks opened on an upbeat note on Monday as the buoyant investors are putting fresh bets on stocks amid high expectations.

After crossing the key index 6800-mark in the previous day, the market opened on a flying note riding on the news that the securities regulator approved the first board of governors of the much-expected Capital Market Stabilisation Fund (CMSF) on Sunday.

DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 39.57 points or 0.57 per cent to stand at 6,881 points within the first 30 minutes of trading at 10:30 am –the highest since its inception more than eight years back in 2013.

Two other indices saw an upward trend till then, with the DS30 index, comprising blue chips, rose 13.35 points to reach at 2,465 and the Shariah Index (DSES) gained 7.87 points to stand at 1,487 points till then.

Turnover, another important indicator of the market, stood at Tk 4.42 billion within the first 30 minutes of trading at 10:30 am.

Market analysts said the buoyant investors are putting fresh funds on stocks amid lower returns from the money market, limited scopes of investment in other instruments, and the securities regulator’s latest move to extend credit facilities to the investors.

Of the issues traded till then, 248 advanced, 69 declined and 42 remained unchanged on the DSE trading floor till then.

Power Grid Company was the most traded stock till then with shares worth Tk 323 million changing hands, closely followed by Beximco, Mir Akther Hossain, Baraka Patenga Power, and Janata Insurance.

The Chittagong Stock Exchange also saw an upward trend till then with its All Shares Price Index (CASPI)—rising 42 points to stand at 19,963 while the Selective Categories Index – CSCX gaining 23 points to reach 11965, also at 10:30 am.

Of the issues traded till then 76 advanced, 53 declined and 26 remained unchanged with Tk 126 million in turnover.

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