Stocks open on positive note

Union Bank makes flying trade debut

FE ONLINE REPORT | Wednesday, 26 January 2022

Stocks opened on a positive note on Wednesday as the buoyant investors put fresh bets on large-cap issues, beating the virus worries.

Following the previous day’s upbeat trend, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 10.10 points or 0.14 per cent to stand at 7,042, 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 0.57 points to reach 2,613 points and the Shariah Index (DSES) advanced 2.44 points to stand at 1,507.

Meanwhile, Union Bank, a fourth generation private commercial bank, made a flying trading debut on Wednesday as its shares halted at 10 per cent upper limit circuit breaker after a few minutes  of trading.

Some 47 trades were executed at the DSE with a total of 34,677 shares changing hands after the first hour of trading as most of the IPO shareholders were unwilling to sell their stakes hoping for higher profit in future.

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 2.64 billion within the first hour of trading at 11:00am.

Of the issues traded till then, 193 advanced, 104 declined and 67 issues remained unchanged on the DSE trading floor till then.

Beximco was the most traded stock till then with shares worth Tk 275 million changing hands, closely followed by Bangladesh Shipping Corporation, Beximco, Matin Spinning Mills and RAK Ceramics.

The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—gaining 3.77 points to stand at 20,639, while the Selective Categories Index – CSCX rising 0.76 points to reach at 12,397 also at 11:00am.

Of the issues traded till then 73 advanced, 53 declined, and 16 remained unchanged with Tk 48million in turnover.

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