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Stocks opened on a positive note on Monday after the previous day’s mild correction as bargain hunters put fresh bets on cement, engineering and pharma shares.
Following the previous day’s modest correction, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 29.08 points or 0.40 per cent to stand at 7,266 points within the first 30 minutes of trading at 10:30am.
Two other indices also saw positive trends till then. The DS30 index, comprising blue chips, rose 14.38 points to stand at 2,679 and the Shariah Index (DSES) gained 8.80 points to stand at 1,583 points till then.
Turnover, an important indicator of the market, stood at Tk 2.93 billion within the first 30 minutes of trading at 10:30 am.
Market analysts said the bargain hunters are showing their appetite on June-closing stocks in dividend expectations.
However, many investors followed a cautious approach as the key index is hovering around the highest level while many stock prices rose significantly in recent weeks, they said.
Of the issues traded till then, 211 advanced, 82 declined and 59 remained unchanged on the DSE trading floor till then.
LafargeHolcim was the most traded stock till then with shares worth Tk 372 million changing hands, closely followed by GPH Ispat, SS Steel, Orion Pharma and Genex Infosys.
The Chittagong Stock Exchange also saw a modest rise at opening with its All Shares Price Index (CASPI) gaining 69 points to stand at 21,196 while the Selective Categories Index (CSCX) rising 42 points to reach 12,718, also at 10:30 am.
Of the issues traded till then 59 advanced, 23 declined and 19 remained unchanged with Tk 37 million in turnover.