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Stocks opened sharply higher on Thursday, maintaining the previous day's rising trend, as buoyant investors were putting fresh bets on the major sector shares amid high expectations.
Following the previous two days’ steep rise, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 50.36 points or 0.72 per cent to cross the 7000-mark to stand at 7,032 points within the first 30 minutes of trading at 10:30 am.
Two other DSE indices also saw a rising trend with the DS30 index, comprising blue chips, rising 20.49 points to stand at 2,681 and the Shariah Index (DSES) gained 2.15 points to 1,481 points till then.
Turnover, another important indicator of the market, stood at Tk 2.52 billion within the first 30 minutes of trading at 10:30 am.
Market insiders said support from institutional investors, including state-run Investment Corporation of Bangladesh, has boosted the confidence of general investors.
“Investors hope that the market will soar further, so they are pouring in their money,” said a leading broker.
As per media reports, he said, Sonali Bank has provided Tk 5.0 billion loans to the state-run ICB to invest in the stock market which is a positive signal for the retail investors.
Of the issues traded till then, 224 advanced, 68 declined and 36 remained unchanged on the DSE trading floor.
Beximco was the most traded stock till the filing of this report with shares worth Tk 779 million changing hands, closely followed by IFIC Bank, Alif Manufacturing, Orion Pharma and NRBC Bank.
The Chittagong Stock Exchange also saw a sharp rise at opening with its All Shares Price Index (CASPI)—gaining 115 points to stand at 20,545 while the Selective Categories Index – CSCX rising 70 points to reach 12,348, also at 10:30 am.
Of the issues traded till then, 56 advanced, 25 declined and 13 remained unchanged with Tk 103 million in turnover.