DSE turnover reaches Tk 3b after first hour of trading
Stocks open higher after major correction
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Stocks opened higher on Monday, as bargain hunters continued buying lucrative shares after a recent price fall, with turnover reaching nearly Tk 3 billion in the first hour of trading.
Following the previous day’s gain, the market opened on a positive note as anticipation of a probable market recovery built up surrounding the earnings declarations of the listed companies.
DSEX, the prime index of the Dhaka Stock Exchange, went up by nearly 8 points, or 0.15 per cent, to 4,964 after the first hour of trading at 11:00 am, when the report was filed.
Market analysts said the lucrative price levels of fundamentally sound stocks also attracted bargain hunters, putting the market into the green zone.
However, the majority of investors remained cautious amid the prevailing volatility in the market, said a leading broker.
The DS30 index, which consists of blue-chip companies, gained 5 points to 1,839, while the DSES index, which represents Shariah-based companies, advanced 1 point to 1,101 till then.
Turnover, another important indicator of the market, stood at Tk 2.98 billion till the filing of this report.
Of the issues traded, 175 saw appreciation, 123 witnessed price falls, while 91 remained unchanged.
Beach Hatchery was the most traded stock, with shares worth Tk 146 million changing hands till then.
The Chittagong Stock Exchange also saw a positive trend till then, with its All Shares Price Index (CASPI) gaining 8 points to 13,813, while the Selective Categories Index (CSCX) rose 6 points to 8,422 at the time.