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Stocks opened higher on Tuesday as bargain hunters favored taking positions in potentially lucrative shares amid improved investor sentiment.
The market opened higher as US President Donald Trump signaled that the Iran war may be nearing an end, boosting investor confidence, market operators said. Moreover, Brent crude oil fell 7.7 per cent to US$91.37 a barrel, well off the peak of US$119.5 hit in Monday's session.
Following the news, investors went on buying, particularly banking stocks. Besides, the price appreciation of particular large-cap stocks, as opportunistic investors expect an easing of the Middle East crisis, also helped push the market index higher.
The prime index of the Dhaka Stock Exchange (DSE) went up by 92 points, or 1.80 per cent, to 5,233 within the first 30 minutes of trading at 11:00 am when the report was filed.
The DS30 index, a group of 30 prominent companies, gained 34 points to 2,009, while the DSES index, which represents Shariah-based companies, rose 15 points to 1,050.
Turnover, another important indicator of the market, stood at Tk 1.70 billion till then.
Of the issues traded till then, 334 advanced, 19 declined, and 33 issues remained unchanged on the DSE trading floor.
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