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The benchmark index of the Dhaka Stock (DSE) surpassed the ‘psychological’ threshold of 6,400-mark in early trading on Sunday, as investors kept their buying spree on banking stocks.
Market experts said stocks surged driven by increased buying activity across the trading floor, followed by heightened optimism among investors.
The rise of the market index was mostly driven by banking stocks such as BRAC Bank, National Bank, Dutch-Bangla Bank, UCB, AB Bank and Trust Bank.
Following the previous nine days’ rise, DSEX, the key index of the prime bourse, went up by 40 points to 6,413 after the first one and a half hours of trading at 11:30 am, when the report was filed.
The DSES index, which represents Shariah-based companies, gained 2 points to 1,389 and the DS30 Index, which consists of blue-chip companies, rose 10 points to 2,147.
Turnover also stood at Tk 8.17 billion after the first one and a half hours of trading as the bargain hunters were confident enough to put fresh funds on good stocks.
Of the issues traded till then, 199 advanced, 139 declined and 55 remained unchanged on the DSE trading floor.
Low-cap stocks dominated the turnover chart with Intraco Refueling becoming the most-traded stock till then with shares worth Tk 430 million changing, followed by IFIC Bank, Fortune Shoes and Malek Spinning and ITC.
The Chittagong Stock Exchange (CSE) also opened higher with the CSE All Share Price Index – CASPI – gaining 158 points to 18,273 at 11:30 am.