Stocks open positive riding on small-cap shares

Stocks opened on a positive note on Thursday as bargain hunters put fresh bets on selective small-cap stocks in anticipation of short-term gains.

The small-cap stocks such as National Feed Mills, Fu-Wang Food, Northern Insurance, Union Insurance and Paramount Insurance dominated the gainers’ list till then.

Following the previous day’s modest rise, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 12 points to 6,268 after the first two hours of trading at 12:00 noon.

The DS30 Index, which consists of blue-chip companies, however, saw a fractional loss of 0.54 point to 2,140.  The DSES index, which represents Shariah-based companies, gained 1.42 points gained to 1,358 till then.

Turnover remained low and total turnover stood at Tk 1.80 billion after the first two hours of trading.

Small-cap stock Fu-Wang Food dominated the turnover list with shares worth Tk 160 million changing hands till then, followed by Union Insurance, Deshbandhu Polymer, Sonali Aansh and Emerland Oil Industries.

Of the issues traded till then, 118 advanced, 23 declined and 122 remained unchanged on the DSE trading floor.

The Chittagong Stock Exchange (CSE) also opened higher with the CSE All Share Price Index – CASPI – rising 13 points to 18,529 after two hours of trading.

babulfexpress@gmail.com