Stocks open positive riding on small-cap shares

Stocks opened on a positive note on Wednesday as bargain hunters showed buying interest on selective small-cap stocks in anticipation of short-term gains.

The small-cap stocks such as Tosrifa Industries, Central Pharma, Khan Brothers, Deshbandhu Polymer, and Olympic Accessories dominated the gainers’ list till then.

However, investor confidence still remains subdued owing to shaky confidence stemming from intensifying macroeconomic concerns and mounting political uncertainties ahead of the national election, market operators said.

Following the previous day’s modest rise, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 8.25 points to 6,258 after the first two and a half hours of trading at 12:30 pm.

The DS30 Index, which consists of blue-chip companies, also gained 2.16 points to 2,119 and the DSES index, which represents Shariah-based companies, gained 1.95 points to 1,359 till then.

Turnover remained low and total turnover stood at Tk 2.30 billion after the first two and a half hours of trading.

Small-cap stock Gemini Sea Food became the most-traded stocks till then with shares worth Tk 148 million changing hands, followed by Deshbandhu Polymer, Khan Brothers and Pacific Denims.

Of the issues traded till then, 85 advanced, 58 declined and 148 remained unchanged on the DSE trading floor.

The Chittagong Stock Exchange (CSE) also opened higher with the CSE All Share Price Index – CASPI – rising 18 points to 18,534 after two and a half hours of trading at 12:30pm.

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