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Stocks opened higher on Monday as buoyant investors went on a buying spree on large-cap shares amid increased participation of investors.
Following the previous day’s sharp rise, DSEX, the key index of the prime bourse, went up by 43 points to 6,323 after the first hour of trading at 11:00 am, when the report was filed.
The market index surge was mostly driven by large-cap stocks such as Walton, ICB, Titas Gas, Beacon Pharma, AB Bank and Berger Paints.
Two other indices also saw positive trends till then. The DS30 Index, which consists of blue-chip companies, rose more than 13 points to 2,137 while the DSES index, which represents Shariah-based companies, gained 5 points to 1,376.
Market experts said the buying appetite of institutional investors in selective stocks helped the market to recover in early trading.
Turnover also stood at Tk 5.23 billion after the first hour of trading as the bargain hunters were confident enough to put fresh funds into good stocks.
Of the issues traded till then, 268 advanced, 69 declined and 51 remained unchanged on the DSE trading floor.
Khulna Paper & Printing became the most-traded stock till then with shares worth Tk 321 million changing, followed by Fu-Wang Food, BD Thai Aluminum and Orion Infusion.
The Chittagong Stock Exchange (CSE) also opened higher with the CSE All Share Price Index – CASPI – gaining 57 points to 17,902 after the first hour of trading at 11:00 am.