November 27, 2020, 2:08 pm

Abu Taher Bappa

2020-08-06 11:57:32 BdST

Bourses open higher with rising turnover

The prices of most of the shares on bourses witnessed upward trend in early hour of trading Thursday as optimistic investors continued their buying appetite on sector-wise issues.

Within first 30 minutes of trading, DSEX advanced more than 20 points while the Selective Category Index of port city bourse gained 37 points at 11:00 am when the report was filed.

DSEX, the prime index of the DSE, went up by 20.56 points or 0.47 percent to stand 4,327 points at 11:00 am.

Two other indices also saw upward till then. The DS30 index, comprising blue chips, gained 3.87 points to reach at 1,456 and the DSE Shariah Index rose 1.55 points to stand at 998.

Turnover, the important indicator of the market, stood at Tk 1.85 billion on DSE when the report was filed at 11:00 am.

Market operators said the expansionary monetary policy statement; gradual reopening of the economy coupled with no major spike in daily Covid-19 infected cases prompted the investors to take position in sector-wise stocks.

The Bangladesh Bank recently unveiled an expansionary monetary policy for the current fiscal year lowering borrowing costs to boost up the money flow for revamping the pandemic-hit economic activities, particularly private sector credit growth and the country’s ailing capital market.

The investors hoped that the announced monetary policy statement would rejuvenate the battered economy and persuade institutional investors to pour money into the capital market, said a merchant banker.

The securities regulator’s hard stance on ensuring mandatory 2.0 percent shareholding by each director of listed companies had also a positive impact on the stock prices in recent times, he said.

Of the issues traded till then, 173 advanced, 76 declined and 85 remained unchanged on the DSE floor.

Bangladesh Submarine Cable Company was the most traded stocks till then with shares worth Tk 198 million changing hands, followed by Pioneer Insurance, Beximco, Rupali Life Insurance, and beximco Pharma.

The port city’s bourse – the Chittagong Stock Exchange – (CSE) saw an upward trend till then with the CSE All Share Price Index- CASPI-advancing 37 points to stand at 12,267 points, also at 11:00 am.

The Selective Category Index – CSCX – also gained 21 points to stand at 7,432 points till then.

Of the issues traded till then,70 advanced, 15 declined and 35 issues remained unchanged with Tk 34 million in turnover.

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