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Stocks opened higher on Tuesday as opportunistic investors continued taking positions in the sector-specific shares in anticipation of quick gains.
Market insiders said declining trends of treasury yields and bank interest rates spurred bargain hunters to take positions in lucrative shares amid expectations for reversal from the market’s prolonged bearish sentiment.
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, reports UNB.
The investors’ participation in certain blue-chip scrips has added strength to the ongoing market’s steady recovery.
Following the previous day’s rise, the prime index of the Dhaka Stock Exchange (DSE), went up by more than 16 points or 0.31 per cent to 5,227 at 11:00 am, when the report was filed.
The DS30 index, a group of 30 prominent companies, also gained 4 points to 1,932 while the DSES index, which represents Shariah-based companies, rose 4 points to 1,164.
Turnover, another important indicator of the market, stood at Tk 1.95 billion till then.
Of the issues traded till then, 235 advanced, 67 declined, and 75 issues remained unchanged on the DSE trading floor.
Robi Axiata was the most traded stock with shares worth Tk 203 million changing hands, following its record annual profit for 2024.
The Chittagong Stock Exchange (CSE) also saw a positive trend till then with its All Shares Price Index (CASPI)—gaining21 points to 14,596 while the Selective Categories Index – CSCX rose almost 9 points to 8,845.
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