Stocks open sharply higher after two-day fall

FE ONLINE REPORT | Tuesday, 25 January 2022

Stocks opened sharply higher on Tuesday as the buoyant investors put fresh bets on large-cap issues despite virus worries.

Following the previous two days’ correction, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 52.21 points or 0.74 per cent to stand at 7,071, after the first hour of trading at 11:00am.

Two other indices also saw positive trends till then. The DS30 index, comprising blue chips, gained 12.35 points to reach 2,626 points and the Shariah Index (DSES) advanced 7.42 points to stand at 1,512.

Market analysts said the optimistic investors are putting fresh funds on sector-specific stocks ahead of the upcoming earnings declaration.

Turnover, another important indicator of the market, stood at Tk 3.41 billion within the first hour of trading at 11:00am.

Of the issues traded till then, 277 advanced, 49 declined and 36 issues remained unchanged on the DSE trading floor till then.

Square Textile was the most traded stock till then with shares worth Tk 260 million changing hands, closely followed by Bangladesh Shipping Corporation, Beximco, Matin Spinning Mills and ACI.

The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—gaining 126 points to stand at 20,678, while the Selective Categories Index – CSCX rising 76 points to reach at 12,422, also at 11:00am.

Of the issues traded till then 114 advanced, 21 declined, and 10 remained unchanged with Tk 52 million in turnover.

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