Stocks see big jump at opening post-election session on new hope

Stocks saw a big jump at opening on Sunday, the first day after the 13th parliamentary election, as investors' confidence boosted and bargain hunters favoured taking positions in potentially lucrative shares amid renewed optimism.

The market opened high, aided by the price appreciation of particular large-cap stocks, as opportunistic investors are expecting political stability and macroeconomic recovery following the peaceful election. The BNP-led alliance secured absoloute majority in the national election held on Thursday last. Following the BNP's landslide victory, investors hope for favourable market conditions ahead. As a result, the prime index of the Dhaka Stock Exchange (DSE), soared 115 points or 2.15 per cent to 5514 within the first 25 minutes of trading at 10:25 am, when the report was filed.

The DS30 index, a group of 30 prominent companies, gained 41 points to 2100 while the DSES index, which represents Shariah-based companies, rose 16 points to 1,112.

Turnover, another important indicator of the market, stood at Tk 2.30 billion till then.

Of the issues traded till then, 350 advanced, 14 declined, and 7 issues remained unchanged on the DSE trading floor till then.

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