Stocks opened sharply higher on Tuesday as buoyant investors are putting fresh bets on stocks amid high hopes.
After crossing the prime index 7,000-mark, DSEX, the prime index of the Dhaka Stock Exchange (DSE), soared 58.12 points or 0.82 per cent to stand at 7,133 points within the first 30 minutes of trading at 10:30 am – the highest since its inception in 2013.
Two other indices also saw an upbeat trend with the DS30 index, comprising blue chips, rose 25.18 points to reach 2,571 while the Shariah Index (DSES) gained 11.62 points to stand at 1,547 points till then.
Turnover, another important indicator of the market, stood at Tk 4.21 billion within the first 30 minutes of trading at 10:30 am.
Market analysts said the record-breaking rally of stocks continued as all kinds of investors are parking their funds on stocks amid high hopes.
However, they said, some stocks have become overpriced amid the ongoing bullish trend as the benchmark index shows no signs of slowing down after hitting the historic high.
Of the issues traded till then, 249 advanced, 61 declined and 53 remained unchanged on the DSE trading floor till then.
Summit Power was the most traded stock till then with shares worth Tk 317 million changing hands, closely followed by Beximco, Orion Pharma, BSCCL, and Said Powertec.
The Chittagong Stock Exchange also opened sharply higher with its All Shares Price Index (CASPI)—rising 100 points to stand at 20,762 while the Selective Categories Index – CSCX gained 60 points to reach 12,446, also at 10:30 am.
Of the issues traded till then 74 advanced, 21 declined and 44 remained unchanged with Tk 137 million in turnover.