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Markets open higher after two-day slump

| Updated: March 24, 2022 16:10:30


Investors monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files Investors monitoring stock price movements on computer screens at a brokerage house in the capital city — FE/Files

Stocks opened higher on Tuesday, after a two-day fall, as the bargain hunters were showing their buying interest on sector-wise issues.

Following the previous two days’ market fall, DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 33.69 points or 0.50 per cent to stand at 6,725, after the first 30 minutes of trading at 10:30 am.

Two other DSE indices also saw a positive trend till then with the DS30 index, comprising blue chips, gaining 10.56 points to reach 2,446 and the Shariah Index (DSES) rose 7.05 points to stand at 1,448.

Turnover, another important indicator of the market, however, remained low and stood at Tk 1.49 billion at 10:30 am.

Market analysts said some optimistic investors are buying shares as many stocks came down to lucrative price levels after recent price erosion.

Meanwhile, the merchant bankers have urged the securities regulator to form a special fund worth Tk 100 billion to enhance liquidity support for the country's stock market, which also prompted some investors to buy shares, they said.

Bangladesh Merchant Bankers Association (BMBA) on Monday made the call in a letter to the chairman of the Bangladesh Securities and Exchange Commission (BSEC).

The BMBA said the special fund can be formed by issuing bonds through Capital Market Stabilisation Fund (CMSF).

Of the issues traded till then, 253 advanced, 52 declined, and 37 issues remained unchanged on the DSE trading floor.

VFS Thread Dyeing was the most traded stock till the filing of this report with shares worth Tk 125 million changing hands, closely followed by Beximco, BD Thai Food, Keya Cosmetics and Dragon Sweater.

The Chittagong Stock Exchange also opened marginally higher with its All Shares Price Index (CASPI)—gaining 34points to stand at 19,650, while the Selective Categories Index – CSCX rose 20 points to reach 11,788 at 10:30 am.

Of the issues traded till then, 50 advanced, 21 declined, and 11 remained unchanged with Tk 21 million in turnover.

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