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Stocks opened with a positive trend on Thursday, as opportunistic investors continued taking positions in sector-specific scrips in anticipation of quick gains.
The market recovery was largely supported by fundamentally strong stocks, driven by favorable quarterly earnings disclosures from some of the companies.
Better-than-expected earnings disclosures from sector-specific stocks, along with a market-supportive monetary policy statement, have somewhat invigorated the market from its weakened momentum, said a stockbroker.
As a result, buyers remained on the dominant side as opportunistic investors sought oversold stocks, which they deemed lucrative at the prevailing price levels.
Following the previous day’s marginal correction, the prime index of the Dhaka Stock Exchange (DSE) went up by 21 points or 0.41 percent, to 5,211 at 11:00 am, when the report was filed.
The DS30 index, a group of 30 prominent companies, also gained 6 points to 1,919, while the DSES index, which represents Shariah-based companies, rose 5 points to 1,157.
Turnover, another important indicator of the market, stood at Tk 1.10 billion at that time.
Of the issues traded till then, 209 advanced, 80 declined, and 85 issues remained unchanged on the DSE trading floor.
Bangladesh Shipping Corporation was the most traded stock, with shares worth Tk 114 million changing hands.
The Chittagong Stock Exchange (CSE) also saw a positive trend, with its All Shares Price Index (CASPI) gaining 31 points to 14,513, while the Selective Categories Index (CSCX) rose almost 13 points to 8,794 at that time.
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