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The Financial Express

Stocks open higher amid rising confidence in investors

| Updated: December 20, 2020 11:29:18


Traders, wearing masks, monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files Traders, wearing masks, monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files

Stocks on both the bourses witnessed an upward trend in the early trading on Thursday as bargain hunters were showing their buying binge on sector-wise issues amid positive expectation.

Following the previous day’s upward trend, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) saw an upward trend this morning amid rising trading activities.

Within the first 30 minutes of trading, the DSE key index rose more than 25 points while the CSE All Share Price Index (CASPI) gained 63 points at 10:30 am when the report was filed.

DSEX, the prime index of the DSE, went up by 25.69 points or 0.50 per cent to reach at 5,095 points at that time.

Two other indices also saw positive note till then. The DS30 index, comprising blue chips, advanced 12.18 points to reach at 1,779 points and the Shariah Index (DSES) rose 4.08 points to stand at 1,167 points till then.

Turnover, another important indicator of the market, stood at Tk Tk 1.48 billion when the report was filed at 10:30 am.

Market operators said bargain hunters have been showing their buying appetite on sector-specific issues lately amid growing confidence riding on regulatory moves and gradual improvement of economic activities.

The investors keep showing their buying appetite riding on some of the positive macro-economic indicators despite Covid-19 pandemic, said a merchant banker.

He noted that the stock market regulator’s move to restructure the boards of the listed companies of which sponsor-directors fail to hold minimum 30 per cent shares jointly also attracted the investors.

Of the issues traded on the DSE till filing of this report, 161 advanced, 52 declined, and 95 remained unchanged.

Rupali Insurance was the most traded stock till then with shares worth Tk 162 million changing hands, closely followed by Beximco, Beximc Pharma, Fortune Shoes and City Bank.

The Chittagong Stock Exchange also saw an upward trend till then with the CASPI gaining 63 points to stand at 14,594, also at 10:30 am.

The Selective Categories Index (CSCX) also gained 38 points to reach at 8,784 till then.

Of the issues traded till then, 46 gained, 11 declined, and 23 issues remained unchanged with Tk 44 million in turnover.

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