Stocks open higher amid rising turnover

December 02, 2020 11:18:29

| Updated:

December 02, 2020 14:44:54

Traders, in protective suits, monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files

Stocks witnessed an upward trend in the early trading on Wednesday as investors continued their buying binge on large-cap issues amid optimism.

Following the previous day’s upward trend, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened higher today with rising trading activities.

Within the first 30 minutes of trading, the DSE key index rose more than 17 points while the CSE All Share Price Index (CASPI) gained 43 points at 10:30 am when the report was filed.

DSEX, the benchmark index of the DSE, went up by 17.80 points or 0.36 per cent to reach at 4,921 points at that time.

The DS30 index, comprising blue chips, gained 5.88 points to reach at 1,701 points and the Shariah Index (DSES) advanced 3.16 points to stand at 1,123 points till then.

Turnover, one of the important indicators of the market, stood at Tk Tk 1.65 billion when the report was filed at 10:30 am.

Market analysts said investors keep showing their buying appetite on sector-wise stocks amid growing confidence in the market riding on regulatory moves to restore discipline in the bourses.

The bargain hunters showed their buying appetite mostly on banking and non-bank financial sector issues riding on the news that all the listed banks except ICB Islami Bank posted net profits during the nine months of 2020 amid the covid-19 pandemic, said a leading broker.

He noted that the stock market regulator’s moves to restructure the boards of the listed companies which sponsor-directors fail to hold minimum share, also attracted the investors.

Of the issues traded on the DSE till filing of this report, 147 advanced, 54 declined, and 98 remained unchanged.

Bangladesh Submarine Cable was the most traded stock till then with shares worth Tk 193 million changing hands, closely followed by Beximco, National Feed Mills, Pragati Insurance and Quasem Industries.

The Chittagong Stock Exchange (CSE) also saw an upward trend till then with the CASPI gaining 43 points to stand at 14,134, also at 10:30 am.

The Selective Categories Index (CSCX) also gained 25 points to reach at 8,512 till then.

Of the issues traded till then, 60 gained, 18 declined, and 28 issues remained unchanged with Tk 30 million in turnover.

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