Stocks open positive amid low turnover

Stocks opened with a positive trend on Thursday amid a slow trend as investors were largely reluctant to make fresh investments in the absence of any strong positive catalyst to revive investor confidence.

The market has been passing through a bearish sentiment for a long while the latest increase in value added tax (VAT) on certain goods triggered further caution over the market’s momentum.

Moreover, the increased interest rates on national saving certificates hit the investors' sentiment in equity market investments.

Following the previous four days’ downturn, the prime index of the Dhaka Stock Exchange (DSE), went up by 6 points or 0.12 per cent to 5,148 at 11:00 am, when the report was filed.

The DS30 index, a group of 30 prominent companies, however, lost 3 points to 1,895. The DSES index, which represents Shariah-based companies, rose 1.22 points to 1,158.

Turnover, another important indicator of the market, also remained low and amounted to Tk 895  million till then.

Of the issues traded till then, 196 advanced, 78 declined, and 79 issues remained unchanged on the DSE trading floor till then.

Non operational Khulna Printing was the most traded stock with shares worth Tk 59 million changing hands.

The Chittagong Stock Exchange saw a positive trend till then with its All Shares Price Index (CASPI)—gaining 12 points to 14,402 while the Selective Categories Index – CSCX rose almost 5 points to 8,756 till then.

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