Traders, wearing masks, monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files
Stocks witnessed a sharp rise in the early trading on Tuesday with the key index of the country’s major bourse crossing the 5700-mark, as investors were putting fresh bets on the market amid high hopes.
Following the previous year’s robust growth in turnover, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened on an upbeat note this morning amid rising trading activities.
Within the first 30 minutes of trading, the DSEX rose more than 50 points while the CSE All Share Price Index (CASPI) of port city’s bourse jumped 184 points at 10:30 am when the report was filed.
DSEX, the benchmark index of the DSE, went up by 50.13 points or 0.88 per cent to stand at 5,702 points at that time.
Market analysts said the investors kept their buying spree on major-sector stocks amid high expectations riding on regulatory efforts, the gradual traction in economic activities coupled with hope for the Covid-19 vaccine.
Two other DSE indices also saw a sharp rise till then. The DS30 index, comprising blue chips, advanced 27 points to reach at 2,118 points while the Shariah Index (DSES) rose 7.58 points to stand at 1,305 points till then.
The investors continued their buying appetite on sector-wise stocks amid growing confidence stemming from regulatory actions and the gradual traction in economic activities, said a leading broker.
He also noted that the regulatory efforts to build a stable and vibrant capital market and enlistment of quality IPO’s in the market also tempted investors to stay afloat on the trading floor.
Turnover, another important indicator of the market, stood at Tk 5.36 billion within 30 minutes of trading when the report was filed at 10:30 am.
Of the issues traded on the DSE till then, 137 advanced, 118 declined and 69 remained unchanged.
Robi Axiata was the most traded stock till filing of this report with 55.30 million shares worth Tk 2.16 million changing hands, followed by Beximco Pharma, Beximco, IFIC Bank and LankaBangla Finance.
The Chittagong Stock Exchange (CSE) also saw a positive trend with the CASPI soaring 184 points to stand at 16,556, also at 10:30 am.
Of the issues traded till then, 70 gained, 39 declined, and 25 issues remained unchanged with Tk 25 million in turnover.