Monday, 15th July, 2024
Monday, 15th July, 2024

Confident investors push stocks higher at early trading

Stocks witnessed an upward trend in early trading on Sunday as bargain hunters showed their buying binge on sector-wise issues amid positive expectation.

Following the previous week’s upward trend, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) saw upward trend amid rising trading activities.

Within the first 30 minutes of trading, the DSE key index rose more than 9.0 points while the CSE All Share Price Index- CASPI gained 29 points at 10:30 am when the report was filed.

DSEX, the prime index of the DSE, went up by 9.36 points or 0.18 per cent to reach 5,104 points at 10:30 am.

Two other indices also saw positive note till then. The DS30 index, comprising blue chips, advanced 12.41 points to reach 1,781 points and the Shariah Index (DSES) rose 6.69 points to stand 1,176 points till then.

Turnover, another important indicator of the market, stood at Tk Tk 1.52 billion when the report was filed at 10:30 am.

Market operators said bargain hunters showed their buying appetite on sector-specific issues amid growing confidence riding on regulatory moves and gradual improvement of economic activities.

The investors showed buying appetite riding on some of the positive macro-economic indicators despite Covid-19 pandemic, said a merchant banker.

He noted that the stock market regulator’s moves to restructure the boards of the listed companies which sponsor-directors fail to hold minimum 30 per cent shares jointly also attracted the investors.

Of the issues traded till then, 129 advanced, 95 declined and 82 remained unchanged.

The City Bank was the most traded stock till then with shares worth Tk 122 million changing hands, closely followed by Beximco, Beximc Pharma, Rupali Insurance, and Walton.

The port city bourse – the Chittagong Stock Exchange – also saw an upward trend till then with CSE All Share Price Index- CASPI-gaining 29 points to stand at 14,632, also at 10:30 am.

The Selective Categories Index – CSCX also gained 21 points to reach 8,811 till then.

Of the issues traded till then, 30 gained, 25 declined, and 6 issues remained unchanged with Tk 28 million in turnover.

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