a year ago

DSEX crosses 6700-mark at opening riding on regulator’s latest steps

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Stocks opened higher on Sunday, with the key index crossing the 6700-mark, as investors kept their buying interest on major sector issues riding on the regulator’s latest steps.

Following the previous two days’ rise, the market opened an upbeat note and the DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 51.93 points or 0.77 per cent to stand at 6,714, after the first hour of trading at 11:00am.

Two other indices also saw positive trend till then with the DS30 index, comprising blue chips, gaining 19.94 points to reach 2,498 and the Shariah Index (DSES) rose7.27 points to stand at 1,471.

Turnover, another important indicator of the market, stood at Tk 3.05 billion within the first hour of trading.

Market operators said investors kept their buying spree on major sector stocks riding on regulatory steps to increase the fund flow in the capital market.

The Bangladesh Securities and Exchange Commission (BSEC) urged the state-owned banks, brokers, dealers, merchant bankers and asset management companies to take initiatives to make fresh investments in the market.

Some institutional investors have begun fresh injections of money into fundamentally sound stocks, according to a merchant banker.

Of the issues traded till then, 269 advanced, 67 declined, and 38 issues remained unchanged on the DSE trading floor till then.

IPDC Finance was the most traded stock till then with shares worth Tk 409 million changing hands, closely followed by Beximco, BSC, JMI Hospital Requisite Manufacturing and Bangladesh Building Systems.

The Chittagong Stock Exchange also saw an upward trend till then with its All Shares Price Index (CASPI)—gaining 98 points to stand at 19,619, while the Selective Categories Index – CSCX rose 60 points to reach 11,816 at 11:00am.

Of the issues traded till then 105 advanced, 43 declined, and 25 remained unchanged with Tk 101 million in turnover.

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