Stocks rise at open amid high turnover
FE ONLINE REPORT | Thursday, 28 January 2021
Stocks witnessed an upward trend in early trading on Thursday as the stock market regulator relaxed the margin loan adjustment until June 30.
The regulator has relaxed its directive on margin loans, allowing the stock lenders to adjust interest rate at 12 per cent for four months more until June 30, 2021. It was supposed to be adjusted within February 1.
Following the news, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened higher amid rising trading activities.
After the first hour of trading, DSEX, the key index of the DSE, advanced more than 48 points while the CSE All Share Price Index (CASPI) of port city’s bourse rose 131 points at 11:00 am when the report was filed.
DSEX, the prime index of the DSE, went up by 48.10 points or 0.84 per cent to stand 5,762 points till then.
Two other indices also saw upturn till then. The DS30 index, comprising blue chips gained 27 points to reach 2,205 points and the Shariah Index (DSES) rose 5.54 points to stand 1,285 points till then.
Turnover, another important indicator of the market, stood at Tk 2.97 billion within the first hour of trading at 11:00 am.
Of the issues traded till then, 194 advanced, 44 declined and 85 remained unchanged.
Beximco was the most traded stock till then with 7.05 million shares worth Tk 585 million changing hands, followed by Robi, BATBC, LankaBangla Finance, and Beximco Pharma.
The port city bourse – the Chittagong Stock Exchange –also saw an upward trend till then with CSE All Share Price Index- CASPI-gaining 131 points to stand at 16,720, also at 11:00 am.
Of the issues traded till then, 71 gained, 18 declined, and 26 issues remained unchanged with Tk 105 million in turnover.