The Financial Express

Stocks witness positive trend at opening

| Updated: November 29, 2020 16:42:09

Evaly and Fianancial Express Evaly and Fianancial Express
Stocks witness positive trend at opening

Stocks on both the bourses witnessed a positive trend in the early trading on Thursday as bargain hunters remained active on the sector-specific issues.

Following the previous day’s marginal gain, the Dhaka Stock Exchange (DSE) and the Chittagong Stock Exchange (CSE) opened on a positive note this morning amid rising trading activities.

Within the first 30 minutes of trading, the DSE key index gained more than 17 points while the CSE All Share Price Index (CASPI) advanced 12 points at 10:30 am when the report was filed.

DSEX, the prime index of the DSE, went up by 7.94 points or 0.16 per cent to reach at 4,869 points at that time.

Two other indices also saw positive trend till then. The DS30 index, comprising blue chips, advanced 4.52 points to reach at 1,686 and the Shariah Index (DSES) gained 2.23 points to stand 1,119 points till then.

Turnover, another important indicator of the market, stood at Tk Tk 1.68 billion when the report was filed at 10:30 am.

Market operators said bargain hunters were active on the sector-specific stocks after the end of country’s biggest initial public offerings subscription.

The recent downward trend sent the share prices of more than 80 companies to their floor prices level which also encouraged some investors to take fresh positions on lucrative stocks, said a merchant banker.

Of the issues traded on the DSE till then, 144 advanced, 63 declined, and 87 remained unchanged.

Beximco Pharma was the most traded stock till filing of this report with shares worth Tk 219 million changing hands, closely followed by Beximco, Nitol Insurance, Continental Insurance and Associated Oxygen.

The Chittagong Stock Exchange (CSE) also saw an upward trend till then with the CASPI gaining 50 points to stand at 13,971, also at 10:30 am.

The Selective Categories Index (CSCX) also gained 26 points to reach 8,414 till then.

Of the issues traded till then, 29 gained, 12 declined, and 9 issues remained unchanged with Tk 26 million in turnover.

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