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Stocks open higher on interest rate cut decision

FE Online Report | Published: June 24, 2018 11:51:39 | Updated: June 25, 2018 11:53:45


FE file photo used for representation.

The prices of most of the stocks witnessed steep rise in early hour of trading on Sunday as investors are showing their buying appetite on sector-wise stocks.

Brokers said investors continued their buying spree on stocks amid positive expectations as banks will bring down their interest rates to single digit from July 1.

Following the last week’s upward movement, both the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened higher amid rising trading activities.

Within first 15 minutes of trading, DSEX, the prime index of the country’s prime bourse advanced nearly 32 points, while the CSE All Share Price Index (CASPI) of port city’s bourse gained 45 points at 10:45am.

After 30 minutes of trading, the DSEX advanced more than 52 points while the CASPI of the Chittagong Stock Exchange gained 84 points at 11:00am when the report was filed.

The DSEX went up by 52.80 points or 0.97 per cent to reach at 5,494 points at 11:00am.

The DS30 index, comprising blue chips, rose 21 points to reach at 2002 points.

The DSE Shariah Index advanced 14 points to reach at 1,277 points till then.

Turnover, the important indicator of the market, stood at Tk 1.18 billion when the report was filed.

Of the issues traded till then, 161 advanced, 57 declined, and 37 remained unchanged.

Monno Creamic was the most traded stocks till then with shares worth Tk 91 million changing hands, closely followed by Alif Industries Tk 61 million, Paramount Textile Tk 56 million, Queen South Textile Tk 53 million and Grameenphone Tk 52 million.

The Chittagong Stock Exchange also saw upbeat trend till then with CASPI gaining 84 points to stand at 16,870, also at 11:00am.

The Selective Category Index (CSCX) also gained 50 points to stand at 10,206 points till then.

Of the issues traded till then, 48 gained, 28 declined, and 14 issues remained unchanged with Tk 21 million in turnover.

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