Stocks opened sharply higher on Wednesday with the key index of the Dhaka Stock Exchange (DSE) crossing the 5900-mark in early trading as investors continued their buying spree on major sector stocks.
Following the previous day’s mild correction, the market opened sharply higher and DSEX, the prime index of the DSE, went up by 73.13 points or 1.25 per cent to reach at 5,902 within the first 30 minutes of trading when the report was filed at 10:30 am.
Two other indices saw an upward trend till then with the DS30 index, comprising blue chips, gained 14.46 points to reach 2,209 and the Shariah Index (DSES) rose 6.66 points to stand 1,287 points till then.
Turnover, another important indicator of the market, stood at Tk 5.20 billion within the first 30 minutes of trading at 10:30 am.
Market operators said the recent growth in turnover and index -- the two most important indicators of the market -- in general suggests investors’ confidence in the market is back amid easing virus worries and regulatory initiatives.
The investors are hopeful about the market amid lower return from the money market, easing virus worries coupled with an extension of margin loan cap implementation time for another six months, said a merchant banker.
Of the issues traded till then, 172 advanced, 104 declined and 51 remained unchanged on the DSE trading floor till then.
Prime Bank was the most traded stock till then with shares worth Tk 435 million changing hands, closely followed by Beximco, Southeast Bank, Genex Infosys, and GBB Power.
The port city bourse – the Chittagong Stock Exchange – (CSE) also opened sharply higher with CSE All Share Price Index- CASPI-soaring 204 points to stand at 17098, also at 10:30 am.
Of the issues traded till then 89 declined, 49 advanced and 16 remained unchanged with Tk 123 million in turnover.