Stocks open higher ahead of Eid

FE ONLINE REPORT | Tuesday, 11 May 2021

Stocks opened higher on Tuesday as investors showed their buying spree on major sector issues ahead of Eid holidays.

The market jumped at opening and DSEX, the benchmark index of the Dhaka Stock Exchange (DSE), rose 51.86 points or 0.91 per cent to stand at 5,693 points within the first hour of trading when the report was filed at 11:00 am.

Two other indices saw an upward trend till then with the DS30 index, comprising blue chips, gained 23.59 points to reach at 2,189 and the Shariah Index (DSES) rose 6.12 points to stand 1,267 points till then.

Turnover, another important indicator of the market, stood at Tk 4.75 billion within the first hour of trading at 11:00 am.

Market operators said the investors are hopeful about the market as stocks have been in a rising trend for the last few weeks amid easing virus worries coupled with regulatory initiatives.

Investors continued their buying interest in selective large-cap stocks amid growing confidence in the market as recent market momentum showed optimism, said a merchant banker.

Of the issues traded till then, 198 advanced, 92 declined and 58 remained unchanged on the DSE trading floor till then.

Beximco - the flagship company of Beximco Group - was the most traded stock till then with shares worth Tk 515 million changing hands followed by Brac Bank, BATBC, Robi, and City Bank.

The port city bourse – the Chittagong Stock Exchange (CSE)—also opened higher with CSE All Share Price Index- CASPI-soaring 138 points to stand at 16,470, also at 11:00 am.

Of the issues traded till then 87 advanced, 62 declined and 27 remained unchanged with Tk 144 million in turnover.

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