Stocks rise ahead of Eid holidays

Stocks witnessed positive trend in early trading on Wednesday as a section of investors continued their appetite on sector-wise issues amid expectation of improving economic activities ahead of Eid holidays.

Within 30 minutes of trading, DSEX advanced more than 3.0 points while the CSE All Share Price Index (CASPI) of port city’s bourse gained 2.0 points at 11:00 when the report was filed.

DSEX, the prime index of the DSE, went up by 3.68 points or 0.08 per cent to stand 4,160 points at 11:00 am.

Two other indices, however, witnessed downward trend till then. The DS30 index, comprising blue chips, fell 2.67 points to reach at 1,399 and the DSE Shariah Index saw a fractional loss of 0.36 points to stand at 963.

Turnover, the important indicator of the market, stood at Tk 777 million on DSE when the report was filed at 11:00am.

Market operators said gradual reopening of the economy and the stock market regulator’s assurance not to lift floor price restriction until the market got stable, led investors for buying shares.

Gradual reopening of the economy and static daily number of Covid-19 cases led investors to strike bargains on promising issues, said a merchant banker.

Most of the shares remained stuck at the trading. Of the issues traded till then, 140 remained unchanged while 108 issues advanced and 40 declined on the DSE floor.

British American Tobacco Company was the most traded stocks till then with shares worth Tk 50 million changing hands, followed by Eastern Insurance, Pioneer Insurance, Fine Foods and Sonar Bangla Insurance.

The port city’s bourse – the Chittagong Stock Exchange – (CSE) saw positive trend till then with the CSE All Share Price Index- CASPI-advancing 2.0 points to stand at 11,800 points, also at 11:00am.

The Selective Category Index – CSCX – also gained 1.33 points to stand at 7,176 points till then.

Of the issues traded till then, 29 advanced, 19 declined and 40 issues remained unchanged with Tk 8.0 million in turnover.

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