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Stocks opened on a positive note on Tuesday, rebounding from the previous day’s five-year low, as bargain hunters went on buying lucrative shares.
After Monday’s downturn, investor sentiment showed signs of improvement amid growing expectations of a market recovery, following a meeting between the finance adviser and the chairman of the securities regulator.
DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), rose by over 13 points or 0.28 per cent to 4,789 after the first hour of trading at 11:00 am, when this report was filed.
Market analysts said the lucrative price level of fundamentally sound stocks attracted bargain hunters, taking the market into the green zone after hitting a fresh five-year low the day before.
However, a majority of investors remained cautious due to ongoing market volatility, according to a leading brokerage firm.
The DS30 index, which consists of blue-chip companies, gained 2 points to reach 1,774, while the DSES index, which represents Shariah-compliant companies, advanced 4 points to 1,046 during the same period.
Turnover, a key indicator of market activity, remained low at Tk 868 million till then.
Of the issues traded, 212 advanced, 76 declined, and 75 remained unchanged.
Orion Infusion topped the turnover chart with shares worth Tk 146 million changing hands till that time.
The Chittagong Stock Exchange (CSE) also saw a positive trend till then, with its All Shares Price Index (CASPI) gaining 2 points to reach 13,379, while the Selective Categories Index (CSCX) rose 2 points to 8,176.
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