The Financial Express

Stocks open positive amid volatile trading

| Updated: August 29, 2021 09:35:46

Stocks open positive amid volatile trading

Stocks witnessed a positive trend on Thursday, after the previous day’s mild correction, as bargain hunters remained in a buying mood on sector-wise issues.

Following the single-day modest correction, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 15.49 points or 0.22 per cent to stand at 6,894 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 also gained in early trading with the DS30 index, comprising blue chips, advanced 2.63 points to reach 2,462, and the Shariah Index (DSES) gained1.63 points to stand at 1,494 points till then

Turnover, another important indicator of the market, stood at Tk 3.39 billion within the first 30 minutes of trading at 10:30 am.

Market analysts said the bargain hunters are showing their buying interest on sector-wise stocks anticipating positive momentum ahead as the money market has huge liquidity.

However, cautious investors followed the ‘go slow’ strategy as the Bangladesh Bank started to investigate entire money-market transactions along with exposures on the capital market to gauge liquidity movements in the banking system, they said.

At least six teams of the Bangladesh Bank (BB) are now probing different transactions of treasury and investment departments of the banks and non-banking financial institutions (NBFIs), BB officials said.

Of the issues traded till then, 212 advanced, 85 declined and 63 remained unchanged on the DSE trading floor till then.

Newly listed SBAC Bank was the most traded stock till then with shares worth Tk 345 million changing hands, closely followed by IPDC Finance, Fu-Wang Food, Beximco Pharma, and LankaBangla Finance.

However, the Chittagong Stock Exchange saw a negative trend till then with its All Shares Price Index (CASPI)—losing 29 points to stand at 20,028 while the Selective Categories Index – CSCX shedding 19 points to reach 12,005, also at 10:30 am.

Of the issues traded till then 45 advanced, 42 declined and 59 remained unchanged with Tk 98 million in turnover.

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