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Stocks opened higher on Tuesday as investors continued taking positions in the sector-specific shares supported by the gradual easing of interest rates in the money market.
Market insiders said the investors continued their chase to take positions in the trendy large-cap stocks to capitalize on the market’s current upbeat vibe riding on declining trends of treasury yields and bank interest rates.
Analysts believe the Bangladesh Bank’s (BB) decision to keep its policy rate unchanged amid falling inflation and treasury yields is a positive signal for the equity market outlook.
The investors’ participation in certain blue-chip stocks added strength to the ongoing market’s recovery.
Following the previous day’s rise, the prime index of the Dhaka Stock Exchange (DSE), went up by more than 42 points or 0.81 per cent to 5,277 at 11:00am, when the report was filed.
The DS30 index, a group of 30 prominent companies, also gained 8 points to 1,935 while the DSES index, which represents Shariah-based companies, also gained 7 points to 1,176 till then.
Turnover, another important indicator of the market, stood at Tk 1.81 billion till then.
Of the issues traded till then, 249 advanced, 71 declined, and 57 issues remained unchanged on the DSE trading floor till then.
Agni Systems was the most traded stock with shares worth Tk 140 million changing hands till then.
The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—gaining 54 points to 14,624 while the Selective Categories Index – CSCX rose more than 31 points to 8,874 till then.