Stocks witnessed an upward trend in early hours of trading on Monday as optimistic investors showed appetite on sector-wise issues amid high expectations.
Following the previous day’s marginal decline, the Dhaka Stock Exchange (DSE) opened higher with key index rose more than 36 points within the first 15 minutes of trading.
After the first 30 minutes of trading, the DSEX gained more than 34 points when the report was filed at 10:30am.
DSEX, the prime index of the DSE, went up by 34.32 points or 0.69 per cent to reach 5,005 points at 10:30am.
The DS30 index, comprising blue chips, also advanced 13 points to reach 1,703 and the Shariah Index (DSES) gained 6.0 points to reach 1,127 points till then.
Turnover, the other important indicator of the market, stood at Tk 1.62 billion when the report was filed at 10:30am which was Tk 1.93 billion in the previous day at 10:30am.
Market analysts said the optimistic investors are active on major sectors stocks riding on the news of interest rate cut on stock investment funds.
The Bangladesh Bank has reduced the interest rate on borrowing from its special investment fund to 4.75 per cent from 5.0 per cent, aimed at helping the country’s lenders increase their stock investment capacity.
Of the issues traded till then, 193 advanced, 82 declined and 49 remained unchanged.
The insurance sector dominated the turnover chart till then with Beximco was the most traded stocks till then with shares worth Tk 117 million changing hands, closely followed by Asia Pacific Insurance, Sandhani Life, Eastland Insurance and City Bank.
The port city bourse – the Chittagong Stock Exchange – (CSE) also saw upward trend till then with CSE All Share Price Index- CASPI-gaining 28 points to stand at 14,215, also at 10:30am.
The Selective Categories Index – CSCX also gained 18 points to reach 8,525 till then.
Of the issues traded till then, 45 gained, 22 declined, and 9 issues remained unchanged with Tk 16 million in turnover.