Saturday, 18th May, 2024
Saturday, 18th May, 2024
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Stocks witness positive trend on BSEC move

Stocks witnessed a positive trend in early trading on Sunday as bargain hunters remained active on the sector-specific issues.

Following the previous week’s modest correction, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened higher amid rising trading activities.

Within the first 30 minutes of trading, the DSE key index gained more than 7.0 points while the CSE All Share Price Index- CASPI advanced 48 points at 10:30 am when the report was filed.

DSEX, the prime index of the DSE, went up by 7.94 points or 0.16 per cent to reach 4,877 points at 10:30 am.

The DS30 index, comprising blue chips, advanced 2.62 points to reach 1,692 points. However, the Shariah Index (DSES) gained 0.18 points to stand 1,118 points till then.

Turnover, another important indicator of the market, stood at Tk Tk 1.46 billion when the report was filed at 10:30 am.

Market operators said investors continued their buying appetite on sector-specific stocks amid growing confidence in the market riding on regulatory moves to restore discipline in the market.

The recent downward trend sent the share prices of more than 80 companies to their floor prices level which also encouraged some investors to take fresh positions on lucrative stocks, said a merchant banker.

Of the issues traded till then, 125 advanced, 84 declined and 95 remained unchanged.

Beximco was the most traded stock till then with shares worth Tk 177 million changing hands, closely followed by Beximco Pharma, Reliance Insurance, Nitol Insurance, and Green Delta Insurance.

The port city bourse – the Chittagong Stock Exchange – (CSE) also saw an upward trend till then with CSE All Share Price Index- CASPI-gaining 48 points to stand at 14,010, also at 10:30 am.

The Selective Categories Index – CSCX also gained 27 points to reach 8,434 till then.

Of the issues traded till then, 41 gained, 23 declined, and 15 issues remained unchanged with Tk 46 million in turnover.

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