Stocks open higher as large-cap stocks surge

Robi’s share price keeps soaring

December 29, 2020 11:04:01

| Updated:

December 29, 2020 15:37:50

Stocks witnessed upward trend in early trading on Tuesday as investors remained active on major sector issues amid year-end dividend expectations.

Meanwhile, Robi’s share continued to rise for the fourth trading day and reached Tk 27.10 each at 10:30 am, soaring 9.72 per cent.

Within the first 30 minutes of trading, the DSE key index rose more than 32 points while the CSE All Share Price Index- CASPI soared 126 points at 10:30 am when the report was filed.

DSEX, the prime index of the DSE, went up by 32.26 points or 0.60 per cent to reach 5,376 points at 10:30 am.

Two other indices also saw an upward trend till then. The DS30 index, comprising blue chips, advanced 15.38 points to reach 1,939 points and the Shariah Index (DSES) rose 5.95 points to stand 1,237 points till then.

Market operators said the investors continued their buying appetite on sector-wise stocks amid growing confidence stemming from regulatory actions and the gradual traction in economic activities.

As the Covid-19 vaccination has started in the major trade partners of Bangladesh, investors’ confidence strengthened as this indicates a continued rebound of the global economy, said a leading broker.

He 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.

However, risk-averse investors opted for booking some profits on sector-wise quick-gaining stocks, he said.

Turnover, another important indicator of the market, stood at Tk 2.17 billion within 30 minutes of trading when the report was filed at 10:30 am.

Of the issues traded till then, `212 advanced, 48 declined and 68 remained unchanged.

Beximco was the most traded stock till then with 5.85 million shares worth Tk 298 million changing hands, followed by LankaBangla Finance, Beximco Pharma, BD Finance, and IFIC Bank.

The port city bourse – the Chittagong Stock Exchange – (CSE) also saw an upward trend till then with CSE All Share Price Index- CASPI-soaring 126 points to stand at 15,533, also at 10:30 am.

The Selective Categories Index – CSCX also rose 77 points to reach 9,369 till then.

Of the issues traded till then, 65 gained, 15 declined, and 17 issues remained unchanged with Tk 40 million in turnover.

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