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Stocks open sharply higher on Sunday as buoyant investors are putting fresh bets on lucrative blue-chip shares in anticipation of quick gains.
After the first one and a half hour of trading, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by more than 34 points or 0.65 per cent to 5,278 at 11:30am, when the report was filed.
The blue-chip DS30 index, a group of 30 prominent companies, gained more than 9 points to 1,884 while the DSES index, which represents Shariah-based companies, rose 20 points to 1,152.
Market analysts said after a sharp correction in recent weeks, many good stocks came down to a lucrative price level, which encouraged a section of investors to put in fresh steak.
Price hikes of Walton, Renata, BAT Bangladesh, BSRAM, and Unilever Consumers Care mostly accounted for the index rise.
Turnover, another important indicator of the market, stood at Tk 1.85 billion after one hour of trading at 11:30am.
Of the issues traded till then, 209 advanced, 105 declined, and 73 issues remained unchanged on the DSE trading floor till then.
Sea Pearl Beach Resorts was the most traded stock till then with shares worth Tk 122 million changing hands.
The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—gaining 52 points to stand at 14,839 while the Selective Categories Index – CSCX gained 32 points to reach 8932, also at 11:30am.