The prices of most of the shares on bourses witnessed positive trend in early hour of trading Wednesday as optimistic investors continued their buying appetite on sector-wise issues.
Within first 30 minutes of trading, DSEX advanced more than 24 points while the Selective Category Index of port city bourse gained 28 points at 11:00 am when the report was filed.
DSEX, the prime index of the DSE, went up by 24.60 points or 0.57 per cent and crossed the 4,300-mark to stand 4,323 points at 11:00 am.
Two other indices also saw upward till then. The DS30 index, comprising blue chips, gained 1.91 points to reach at 1,456 and the DSE Shariah Index rose 3.42 points to stand at 1003.
Turnover, the important indicator of the market, stood at Tk 1.60 billion on DSE when the report was filed at 11:00 am.
Market operators said the expansionary monetary policy statement; gradual reopening of the economy coupled with no major spike in daily Covid-19 infected cases prompted the investors to take a position in sector-wise stocks.
The Bangladesh Bank recently unveiled an expansionary monetary policy for the current fiscal year lowering borrowing costs to boost up the money flow for revamping the pandemic-hit economic activities, particularly private sector credit growth and the country’s ailing capital market.
The investors hoped that the announced monetary policy statement would rejuvenate the battered economy and persuade institutional investors to pour money into the capital market, said a merchant banker.
The securities regulator’s hard stance on ensuring mandatory 2.0 per cent shareholding by each director of listed companies had also a positive impact on the stock prices in recent times, he said.
Of the issues traded till then, 181 advanced, 59 declined and 87 remained unchanged on the DSE floor.
Pioneer Insurance was the most traded stocks till then with shares worth Tk 96 million changing hands, followed by Beximco Pharma, Republic Insurance, Indo-Bangla Pharma and Sonar Bangla Insurance.
The port city’s bourse – the Chittagong Stock Exchange – (CSE) saw an upward trend till then with the CSE All Share Price Index- CASPI-advancing 45 points to stand at 12,232 points, also at 11:00 am.
The Selective Category Index – CSCX – also gained 28 points to stand at 7,413 points till then.
Of the issues traded till then, 60 advanced, 21 declined and 44 issues remained unchanged with Tk 23 million in turnover.