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Stocks open positive on Thursday as bargain hunters put fresh bets on rumour-based low-cap stocks in anticipation of short-term gains.
A section of investors chased for low-performing stocks again such as Aftab Automobiles, Samata Leather, GQ Ball Pen and Shyampur Sugar Mills which topped the gainers list till then.
However, most investors remained on the sidelines due to the latest policy rate hike by a further 50 basis points amid a tightened monetary space fueled the prevailing concerns among investors regarding the market outlook.
Following the previous day’s rise, DSEX, the prime index of the Dhaka Stock Exchange (DSE), saw 2.5 points higher to 6,221 after the first two hours of trading at 12:00 noon.
The DS30 Index, which consists of blue-chip companies, rose 2.6 points to 2,105 while the DSES index, which represents Shariah-based companies, advanced 0.60 points to 1,352.
Turnover remained low and total turnover stood at Tk 1.95 billion after the first two hours of trading.
Small-cap stock Aftab Automobiles became the most-traded stocks till then with shares worth Tk 183 million changing hands as the company reported higher profit in FY23 and declared a 10 per cent cash dividend for its shareholders on Thursday.
It was Emerald Oil Industries, Khulna Printing and Fu-Wang Food.
Of the issues traded till then, 70 advanced, 58 declined and 150 remained unchanged on the DSE trading floor.
The Chittagong Stock Exchange (CSE) also opened higher with the CSE All Share Price Index – CASPI – gaining 16 points to 18,440 after two hours of trading.