Stocks witnessed an upward trend in the early trading on Sunday as optimistic investors continued their buying appetite on large-cap issues amid optimism.
Following the previous week’s upward trend, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened higher this morning with rising trading activities.
Within the first 30 minutes of trading, the DSE key index rose more than 27 points while the CSE All Share Price Index (CASPI) gained 44 points at 10:30 am when the report was filed.
DSEX, the benchmark index of the DSE, went up by 27.94 points or 0.36 per cent to reach at 5,002 points at that time.
The DS30 index, comprising blue chips, gained 9.90 points to reach at 1,737 points while the Shariah Index (DSES) advanced 9.12 points to stand at 1,144 points till then.
Turnover, one of the important indicators of the market, stood at Tk Tk 1.43 billion when the report was filed at 10:30 am.
Market analysts said investors showed their buying appetite on sector-wise stocks amid growing confidence in the market riding on regulatory moves to restore discipline in the market.
The stock market regulator’s move to restructure the boards of the listed companies of which sponsor-directors fail to hold minimum share also attracted the investors, said a leading broker.
The news that three Bangladeshi firms -- Square Pharmaceuticals, Renata, and Fortune Shoes -- have made it to Forbes Asia’s Best Under one billion-2020 list also encouraged the investors, he said.
Of the issues traded on the DSE till then, 162 advanced, 71 declined, and 93 remained unchanged.
Republic Insurance was the most traded stock till then with shares worth Tk 132 million changing hands, closely followed by Beximco, BBS Cable, Fortune Shoes, and National Feed Mills.
The Chittagong Stock Exchange also saw an upward trend till then with the CASPI gaining 44 points to stand at 14,302, also at 10:30 am.
The Selective Categories Index (CSCX) also gained 26 points to reach at 8,603 till then.
Of the issues traded till then, 60 gained, 18 declined, and 28 issues remained unchanged with Tk 32 million in turnover.