Stocks opened sharply higher on Tuesday with rising turnover as the optimistic investors continued to put fresh bets on sector-specific issues, beating Omicron worries.
Following the previous three days’ positive note, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 39.13 points or 0.55 per cent to 7,094, after the first 30 minutes of trading at 10:30am.
Two other indices also saw positive trends till then. The DS30 index, comprising blue chips, gained 11.78 points to reach 2,619 points and the Shariah Index (DSES) advanced 5.12 points to stand at 1,510.
Market analysts said stocks opened higher, beating worries of the rising Covid-19 cases, as the investors continued pouring their funds in the sector-wise stocks.
The investors are optimistic about the economy are betting on stocks although the pandemic is getting worse again with the rising cases of infections caused by the new coronavirus variant Omicron, said a merchant banker.
Turnover, another important indicator of the market, stood at Tk 3.51 billion within the first 30 minutes of trading at 10:30am.
Of the issues traded till then, 229 advanced, 72 declined and 54 issues remained unchanged on the DSE trading floor till then.
Bangladesh Shipping Corporation was the most traded stock till then with shares worth Tk 383 million changing hands, followed by Saif Powertec, GHP Ispat, GSP Finance and Beximco.
The Chittagong Stock Exchange opened higher with its All Shares Price Index (CASPI)—rising 77 points to stand at 20,728, while the Selective Categories Index – CSCX gaining 47 points to reach at 12,452, also at 10:30am.
Of the issues traded till then 73 advanced, 23 declined, and 12 remained unchanged with Tk 50 million in turnover.