Stocks open higher on Wednesday, after a five-day losing streak, as bargain hunters were active on lucrative issues.
After hitting a two-month low of the Dhaka Stock Exchange’s core index in the previous day, stocks opened on a high note amid renewed optimism.
Within the first 30 minutes into trade, DSEX soared more than 38 points while the CSE All Share Price Index (CASPI) of port city’s bourse jumped 92 points at 10:30 am when the report was filed.
DSEX, the prime index of the DSE, went up by 38.04 points or 0.71 per cent to stand 5,355 points till then.
Two other indices also rise till then. The DS30 index, comprising blue chips gained 16.63 points to reach 2,034 and the Shariah Index (DSES) rose 5.0 points to stand 1,211 points till then.
Turnover, another important indicator of the market, stood at Tk 961 million within the first hour of trading at 10:30 am.
Market operators said bargain hunters showed their buying appetite on sector-specific issues which saw price erosion in the past few trading sessions.
Of the issues traded till then, 175 advanced, 19 declined and 51 remained unchanged.
Beximco - the flagship company of Beximco Group- was the most traded stock till then with shares worth Tk 368 million changing hands, followed by Robi, Beximco Pharma, LankaBangla Finance and BATBC.
The port city bourse – the Chittagong Stock Exchange – (CSE) also rose at opening with CSE All Share Price Index- CASPI- soaring 92 points to stand at 15,475, also at 10:30 am.
Of the issues traded till then, 38 gained, 6 declined, and 9 issues remained unchanged with Tk 24 million in turnover.