Published :
Updated :
For all latest news, follow The Financial Express Google News channel.
Stocks opened higher on Monday after remaining down in the past five trading days, as bargain hunters put fresh funds on lucrative shares in anticipation of quick gain.
Following the previous five days’ downturn, the key index of the prime bourse went up by 20 points to 6,303 after the first hour of trading at 11:00 am, when the report was filed.
Market experts said stocks surged driven by increased buying activity across the trading floor, particularly the selective large-cap stocks such as Best Holdings, Brac Bank, Walton, LafargeHolcim, Square Pharma and ICB.
The DSES index, which represents Shariah-based companies, gained 6 points to 1,375 and the DS30 Index, which consists of blue-chip companies, jumped 14 points to 2,143.
Turnover also stood at Tk 2.50 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, 216 advanced, 97 declined and 64 remained unchanged on the DSE trading floor.
Newly listed Best Holdings dominated the turnover chart with shares worth Tk 195 million changing, followed by City General Insurance, Fu-Wang Ceramic, Orion Infusion and Lovello Ice-Cream.
The Chittagong Stock Exchange (CSE) also opened on a positive note with the CSE All Share Price Index – CASPI –gaining 7 points to 18,093 at 11:00 am.