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Stocks opened marginally higher on Monday as bargain hunters returned to buy undervalued blue-chip stocks, although overall sentiment remained subdued amid the ongoing Middle East war.
The market opened higher, aided by price appreciation in some large-cap stocks, as opportunistic investors expect post-Eid market stability amid a ceasefire in the Middle East.
Moreover, pre-Eid selling pressure eased slightly, as it was the last trading day before the Eid holidays. The market will remain closed from March 17 to March 23 due to Eid-ul-Fitr.
The prime index of the Dhaka Stock Exchange (DSE) rose by 25 points, or 0.47 per cent, to 5,344 within the first two hours of trading at 12:00 noon, when the report was filed.
The DS30 index, comprising 30 prominent companies, gained 6 points to reach 2,048, while the DSES index, which represents Shariah-based companies, rose 6 points to 1,078.
Turnover, another important indicator of the market, stood at Tk 2.34 billion till then.
Of the issues traded till then, 223 advanced, 84 declined, and 74 remained unchanged on the DSE trading floor.
Intech Ltd was the most traded stock, with shares worth Tk 105 million changing hands till then.
The Chittagong Stock Exchange also saw an upward trend, with its All Shares Price Index (CASPI) gaining 32 points to stand at 15,012, while the Selective Categories Index (CSCX) rose 7 points to 9,156 till then.
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