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Stocks opened on a positive note on Wednesday as bargain hunters showed buying interest on sector-wise stocks based on recent earnings disclosures of the listed companies.
The opportunistic investors pursued particular stocks with potential for quick gains while cautious investors preferred profit booking and continued rebalancing their portfolios.
Price surge of some selective stocks such as Premier Cement, Berger Paints, Meghna Petroleum and AND telecom contributed most to the index rise till then.
Following the previous day’s modest fall, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 1.33 points to 6,277 after the first two hours of trading at 12:00 noon.
The DS30 Index, which consists of blue-chip companies, saw a fractional gain of 0.34 points to 2,131 and the DSES index, which represents Shariah-based companies, gained 0.53 points to 1,362 till then.
Turnover remained low and total turnover stood at Tk 2.51 billion after the first two hours of trading.
Small-cap stock Beach Hatchery became the most-traded stocks till then with shares worth Tk 234 million changing hands, followed by Apex Footwear, Fu-Wang Food and RD Food.
Of the issues traded till then, 76 advanced, 70 declined and 121 remained unchanged on the DSE trading floor.
The Chittagong Stock Exchange (CSE) also opened higher with the CSE All Share Price Index – CASPI – rising nearly 6 points to 18,605 after two hours of trading.