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Stocks open higher on Sunday as buoyant investors are putting fresh bets on lucrative shares in anticipation of short-term gain amid regulatory measures.
The Bangladesh Securities and Exchange Commission (BSEC) brought back the lower limit of the circuit breaker mechanism to 10 per cent from 3 per cent for all publicly traded companies, along with some decisions last week, which boosted investors’ confidence.
Investors are optimistic about the return of good governance in the market as the massive reforms underway in the financial sectors, including capital market.
Following the news, the prime index of the Dhaka Stock Exchange (DSE), went up by 48 points or 0.83 per cent to 5,852 within the first hour of trading at 11:00am, when the report was filed.
The blue-chip DS30 index, a group of 30 prominent companies, also ggained10 points to 2,134 and the DSES index, which represents Shariah-based companies, rrose9 points to 1,280 till then.
Turnover, another important indicator of the market, stood at Tk 2.92 billion till then.
Of the issues traded till then, 293 advanced, 55 declined, and 35 issues remained unchanged on the DSE trading floor till then.
MJL Bangladesh was the most traded stock till then with shares worth Tk 164 million changing hands.
The Chittagong Stock Exchange also saw a positive trend till then with its All Shares Price Index (CASPI)—gaining 94 points to stand at 16,614 while the Selective Categories Index – CSCX gained 58 points to reach 10,012 till then.