Stocks witnessed a positive trend in early trading on Wednesday as bargain hunters are showing their buying interest on selective issues based on ongoing corporate declarations.
Following the previous day’s strong comeback, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 36.76 points or 0.52 per cent to 7,042 points within the first hour of trading at 11:00 am.
Market insiders said a section of investors are optimistic and taking positions on stocks based on the latest corporate and dividend declarations.
The Shariah Index (DSES) also gained 2.01 points to stand at 1,484 points till then. But, the DS30 index, comprising blue chips, shed 4.0 points to stand at 2,657 at 11:00 am.
Turnover, another important indicator of the market, however, was still low and amounted to Tk 4.06 billion within the first hour of trading at 11:00 am.
Trading activities remained low as general investors are not confident enough to invest fresh funds on stocks amid recent volatility in the market, according to a stockbroker.
Of the issues traded till then, 230 advanced, 102 declined and 33 issues remained unchanged on the DSE trading floor till then.
IFIC Bank was the most traded stock till then with shares worth Tk 355 million changing hands, closely followed by Beximco, BATBC, Delta Life Insurance and Saif Powertec.
The Chittagong Stock Exchange also opened on a positive trend with its All Shares Price Index (CASPI)—gaining 78 points to stand at 20,522 while the Selective Categories Index – CSCX advanced 43 points to reach 12,326, also at 11:00 am.
Of the issues traded till then 101 advanced, 42 declined and 17 remained unchanged with Tk 82 million in turnover.