Stocks see positive trading at opening

Prices of most of the shares on the bourses witnessed an upward trend on Monday as optimistic investors continued their buying binge buoyed by investors’ optimism amid gradual economic rebound.

Following the past three days’ positive note, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) saw an upward trend at the opening.

Within the first 15 minutes of trading, the key index of the DSE advanced 20 points while the CSE All Share Price Index (CASPI) of the port city’s bourse gained 35 points at 10:15am.

After 30 minutes of trading, the DSEX advanced more than 28 points while the CSE All Share Price Index (CASPI) of the port city’s bourse rose 47 points at 10:30am when the report was filed.

DSEX, the prime index of the DSE, went up by 28.57 points or 0.58 per cent to reach 4,977 points at 10:30am.

Market operators said lower returns on the money market, gradual economic recovery and strong regulatory actions against wrongdoers continued to attract investors to put fresh funds on stocks.

The stock market regulator has taken a number of initiatives including restructuring the boards of ‘Z’ category companies for bringing positive changes in their operations, changed the definition of ‘Z’ category to ensure accountability of the companies.

Following such regulatory moves, the enthusiastic investors continued to show their buying appetite on sector-wise stocks amid growing confidence on the market, said a merchant banker.

Two other indices also saw positive trend till then. The DS30 index, comprising blue chips, gained 14 points to reach at 1,730 points while the DSE Shariah Index (DSES) rose 6.46 points to reach 1,147 points till then.

Turnover, the important indicator of the market, stood at Tk 1.85 billion when the report was filed at 10:30am which was Tk 2.25 billion in the previous day at 10:30am.

Of the issues traded till then, 191 advanced, 93 declined, and 50 remained unchanged.

Beximco was the most traded stocks till then with shares worth Tk 182 million changing hands, closely followed by Brac Bank, Orion Pharma, Beximco Pharma and Ring Shine Textiles.

The port city bourse – the Chittagong Stock Exchange – (CSE) also saw positive trend till then with CSE All Share Price Index- CASPI-gaining 47 points to stand at 14,161, also at 10:30am.

The Selective Category Index – CSCX –also rose 29 points to stand at 8,538 points till then.

Of the issues traded till then, 50 gained, 26 declined, and 21 issues remained unchanged with Tk 63 million in turnover.