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Stocks open higher riding on coordination meeting news

| Updated: March 30, 2022 10:36:41


Investors react while monitoring stock price movements on a computer screen at a brokerage house in the capital city — FE/Files Investors react while monitoring stock price movements on a computer screen at a brokerage house in the capital city — FE/Files

The market opened higher on Monday as the bargain hunters were putting fresh funds on sector-specific stocks following the news of the coordination meeting.

Following the previous day’s modest correction, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 26.15 points or 0.38 per cent to stand at 6,767, after the first hour of trading at 11:00 am.

As part of its measures to prop up the capital market, the securities regulator has planned a coordination meeting with the market intermediaries to discuss how to increase liquidity supply to the country's volatile equity market.

On Sunday, the Bangladesh Securities and Exchange Commission (BSEC) sent letters to the market intermediaries inviting them to the meeting scheduled for Wednesday.

Meanwhile, two other DSE indices also saw a positive trend till then with the DS30 index, comprising blue chips, gaining 11.20 points to reach 2,474 and the Shariah Index (DSES) rose 7.05 points to stand at 1,465.

Turnover, another important indicator of the market, stood at Tk 2.55 billion at 11:00 am.

However, global price instabilities due to the ongoing Russia-Ukraine conflict remained a major concern over the future macroeconomic scenario of Bangladesh, said a merchant banker.

Of the issues traded till then, 209 advanced, 104 declined, and 56 issues remained unchanged on the DSE trading floor.

BD Lamp was the most traded stock till the filing of this report with shares worth Tk 192 million changing hands, closely followed by LafargeHolcim, Fortune Shoes, Genex Infosys and Anwar Galvanizing.

The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—gaining 56 to stand at 19,828, while the Selective Categories Index – CSCX rose 34 points to reach 11,895 at 10:30 am.

Of the issues traded till then, 65 advanced, 45 declined, and 26 remained unchanged with Tk 48 million in turnover.

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