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Stocks opened sharply higher on Tuesday, as optimistic traders were showing their buying interest on selective shares following the regulatory moves on margin loans.
The Bangladesh Securities and Exchange Commission on Monday revised the margin loans, withdrawing the index-based credit facilities.
Following the previous day’s modest gain, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 86.82 points or 1.25 per cent to stand at 7028 within the first hour of trading at 11:30 am.
Two other DSE indices also saw a positive trend till then with the DS30 index, comprising blue chips, gaining 18 points to stand at 2,677 while the Shariah Index (DSES) rose 14 points to stand at 1,479.
Turnover, another important indicator of the market, stood at Tk 4.97 billion within the first hour of trading at 11:30 am.
Market insiders said the bargain hunters are showing their buying interest on sector-specific stocks, particularly on banking sector stocks ahead of their year-ending.
Of the issues traded till then, 283 advanced, 61 declined, and 28 issues remained unchanged on the DSE trading floor.
IFIC Bank was the most traded stock till the filing of this report with shares worth Tk 589 million changing hands, closely followed by BRC Bank, Beximco, Kattali Textile, Square Pharma.
The Chittagong Stock Exchange also saw an upward trend till then with its All Shares Price Index (CASPI)—soaring 205 points to stand at 20,528.