Friday, 12th April, 2024
Friday, 12th April, 2024

Bourses witness upward trend after three-day selloff

Stocks witnessed an upward trend in early trading on Monday as bargain hunters were active on sector-wise issues after the recent price correction.

Following the previous three days’ corrections, 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 rose more than 11 points while the CSE All Share Price Index- CASPI gained 38 points at 10:30 am when the report was filed.

DSEX, the prime index of the DSE, went up by 11.82 points or 0.23 per cent to reach 5,086 points at 10:30 am.

Two other indices also saw upbeat notes till then. The DS30 index, comprising blue chips, gained 4.70 points to reach 1,798 points and the Shariah Index (DSES) advanced 2.82 points to stand 1,173 points till then.

Turnover, another important indicator of the market, stood at Tk Tk 1.80 billion when the report was filed at 10:30 am.

Market operators said bargain hunters showed their buying spree on sector-wise stocks which saw a correction in the past few trading sessions.

Of the issues traded till then, 120 advanced, 95 declined and 85 remained unchanged.

Beximco was the most traded stock till then with shares worth Tk 217 million changing hands, closely followed by Beximco Pharma, Pioneer Insurance, JMI Syringes, and Republic 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 38 points to stand at 14,632, also at 10:30 am.

The Selective Categories Index – CSCX also gained 23 points to reach 8,817 till then.

Of the issues traded till then, 40 gained, 18 declined, and 19 issues remained unchanged with Tk 32 million in turnover.

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