Stocks on both the bourses witnessed an upward trend in the early trading on Monday as investors showed their buying appetite based on the latest quarterly earnings.
Following the previous day’s sharp decline, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened higher this morning, but trading activities remained low.
After the first hour of trading, DSEX, the key index of the DSE, advanced more than 23 points while the CSE All Share Price Index (CASPI) of port city’s bourse rose 25 points at 11:00 when the report was filed.
DSEX, the prime index of the DSE, went up by 23.54 points or 0.41 per cent to stand at 5,673 points till then.
Two other DSE indices also saw an upturn till then. The DS30 index, comprising blue chips gained 2.79 points to reach at 2,163 points and the Shariah Index (DSES) rose 6.34 points to stand at 1,271 points till then.
Market analysts said investors showed their buying binge on sector-wise stocks which showed expected earnings in the latest corporate declarations while some were busy rebalancing their portfolio.
Turnover, another important indicator of the market, stood at Tk 2.0 billion within the first hour of trading at 11:00 am.
Of the issues traded till then, 186 advanced, 39 declined, and 92 remained unchanged.
Beximco was the most traded stock till filing of this report with shares worth Tk 454 million changing hands, followed by BATBC, LankaBangla Finance, ROBI and Beacon Pharma.
The Chittagong Stock Exchange also saw an upward trend till then with the CASPI gaining 25 points to stand at 16,500, also at 11:00 am.
Of the issues traded till then, 60 gained, 34 declined, and 20 issues remained unchanged with Tk 61 million in turnover.