Stocks witnessed an upward trend in early hours of trading on Sunday as investors are putting fresh bets on major sector stocks amid high expectations.
The Finance Ministry’s move to arrange a coordination meeting scheduled for December 7 to resolve the ongoing disputes between the central bank and the securities regulator inspired the investors to put fresh stakes in stocks, market analysts said.
Following the previous two days’ upward trend, the market opened higher and the DSEX, the prime index of the Dhaka Stock Exchange (DSE), went up by 31.94 points to stand at 6,968, after the first 30 minutes of trading at 10:30am.
Two other indices also rose with the DS30 index, comprising blue chips, advanced 4.86 points to stand at 2,640 and the Shariah Index (DSES) rose 5.74 points to stand at 1,464 till then.
Turnover, another important indicator of the market, amounted to Tk 1.25 billion within the first hour of trading at 10:30am.
Of the issues traded till then, 240 advanced, 42 declined while 39 issues remained unchanged on the DSE trading floor till then.
Beximco was the most traded stock till then with shares worth Tk 148 million changing hands, closely followed by Power Grid, ONE Bank, First Security Islami Bank and Delta Life Insurance.
The Chittagong Stock Exchange also opened higher with its All Shares Price Index (CASPI)—rising 84 points to stand at 20,339 while the Selective Categories Index – CSCX gaining 50 points to reach at 12,230, also at 10:30am.
Of the issues traded till then 61 declined, 21 advanced and 8 remained unchanged with Tk 48 million in turnover.