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The Financial Express

Stocks open higher after two-day correction

| Updated: August 05, 2021 09:49:45


Stocks open higher after two-day correction

Stocks witnessed an upward trend on Wednesday, after a two-day marginal correction, as bargain hunters were active on the major sector issues.

The market opened on a positive note and the benchmark index of the Dhaka Stock Exchange (DSE), went up by 21.76 points or 0.34 per cent to stand at 6,401 points within the first 30 minutes of trading when the report was filed at 10:30 am.

Two other indices also saw a positive trend at the opening as the DS30 index, comprising blue chips, rose 5.79 points to reach 2,314 and the Shariah Index (DSES) gained 1.55 points to stand 1,389 points till then.

Turnover, another important indicator of the market, stood at Tk 2.62 billion within the first 30 minutes of trading at 10:30 am.

Market insiders said the bargain hunters were active on the market following the news that the ongoing strict lockdown will not be extended.

The investors are also hopeful of a market-friendly monetary policy statement to be announced on Thursday, they said.

Of the issues traded till then, 230 advanced, 81 declined and 48 remained unchanged on the DSE trading floor till then.

Saif Powertec was the most traded stock till then with shares worth Tk 154 million changing hands, closely followed by Peoples Insurance, GPH Ispat, Rahima Food, and Baraka Patenga Power.

The port city bourse – the Chittagong Stock Exchange – (CSE) saw a positive trend till then with CSE All Share Price Index- CASPI-gaining 9.0 points to stand at 18,541, also at 10:30 am.

Of the issues traded till then 74 advanced, 52 declined and 25 remained unchanged with Tk 59 million in turnover.

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