Stocks open week on positive note as bargain hunters show buying interest on selective issues
Stocks opened marginally higher on Sunday as bargain hunters are showing their buying interest on selective lucrative issues after recent corrections.
Following the previous week’s sharp decline, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 16.23 points or 0.23 per cent to stand at 6,922 points within the first hour of trading at 11:00am.
Two other indices saw positive trends till then. The DS30 index, comprising blue chips, advanced 10.31 points to stand at 2,611 and the Shariah Index (DSES) rose 1.36 points to stand at 1,463 points till then.
Turnover, another important indicator of the market, stood at Tk 2.84 billion within the first hour of trading at 11:00am.
Market analysts said the bargain hunters are showing their buying binge on sector specific stocks which saw sharp corrections in the recent market fall.
However, the risk-averse investors continued their profit booking on sector-wise stocks, they said.
Of the issues traded till then, 168 advanced, 133 declined and 59 issues remained unchanged on the DSE trading floor till then.
Beximco was the most traded stock till then with shares worth Tk 578 million changing hands, closely followed by NRBC Bank, Fortune Shoes, Alif Manufacturing Company and Sonali Papers.
The Chittagong Stock Exchange also saw a positive trend till then with its All Shares Price Index (CASPI)—gaining 25 points to stand at 20,223 while the Selective Categories Index – CSCX rose 17 points to reach at 12,149, also at 11:00am.
Of the issues traded, 60 advanced, 54 declined and 21 remained unchanged with Tk 60 million in turnover.